Comment Modified capitalism (Score 5, Interesting) 172
Consistently amazed that Capitalism(TM) only has good characteristics and apparently no bad.
The only other thing that seems to come close is religon.
The big critique about capitalism is wealth inequality - it invariably leads to some people getting most of the money, and everyone else getting very little money.
The problem with that critique is that wealth inequality is mathematically more fundamental than any economic system. In other words, any time there is trade in value, you will get wealth inequality regardless of the system.
You can see this in numerous simulations online, such as this one.
Wealth inequality follows a Boltzman distribution or a Pareto distribution, depending on the type of investments allowed, and this can be proven mathematically.
About 2.5 million books are published in the US each year, about the square root of that number (1500) break even in sales, and about the square root of *that* number (35) are best sellers. Lebron James scores 43,000 points in his career, Kobe Bryant scores 34,000 points, and there are a zillion players that score lesser values.
Wealth inequality happens any time you have trade in value, this can be proven mathematically, and it applies to any value in any system.
And as a side note, once you realize wealth inequality is inevitable, the main selling point of Communism disappears. Wealth inequality happens under Communism as well, and we have numerous examples of this in recent history.
To be fair, this wasn't known when Marx was writing his thesis. At that time (1850's), economics hadn't progressed as far as it has today. Marx himself had a degree in law and philosophy, and not economics or psychology.
Capitalism has a bunch of bad characteristics, but we try to modify it to reduce the damage. For example, you can't sell patent medicines any more, you can't sell fake stock shares, and so on.
We use a modified version of capitalism that tries to avoid the bad characteristics.