Alright capitalists this question is for you!
I think it's pretty fair to say the system is not currently functioning as a good representation of free markets and economic mobility.
Obviously communism isn't the answer, so it's up to free market advocates to show us a better way.
What reforms would you propose to make capitalism as it exists, work better at providing genuine wealth and opportunities instead of top-down planning?
@getimiskon@fedi.getimiskon.xyz
Yeah I foresaw that point, because it's a non-trivial one.
Part of the reason I'm asking is because I think UBI is the wrong answer to a variety of important questions.
Sticking to economics: how do you stimulate supply instead of demand? (Ideally without unnecessary waste)
@getimiskon@fedi.getimiskon.xyz
Personally, I think taxing personal income makes no sense and is a big part of the problem.
For example Canada is in a tricky spot right now (Stagflation in all but name) and the bank of Canada wrote an interesting report on what they see the way out as being: [an increase in productivity] (https://www.bankofcanada.ca/2024/08/how-high-productivity-helps-fight-inflation/)
But! You'd somehow need to increase "productivity" per person. Which I'm interpreting as the Bank of Canada admitting that Canadians are not making enough to invest in themselves and it's creating other problems.
But above all, I would like to see "pro capitalists" thinking in terms of how present "cronyism" actually undermines wealth creation and makes things worse for everyone. It's a lot more complicated than "just less government" (which can be a good heuristic) but requires a deeper understanding that is hard to find.