Here are some of my problems with pure capitalism:
- It only works if you can truly account for all the costs and consequences of production – but there are instead strong incentives to externalize costs onto the environment and society at large.
- It only works if consumers have all the information they need, and the ability to make rational decisions – but there are entire industries, marketing and advertising and public relations, dedicated to the express purpose of ensuring that consumers instead make irrational decisions based on insufficient or misleading information.
- It only works if you can assign monetary values to everything – but there are many intangibles to which such value cannot sanely be assigned. Capitalism seeks to commoditize everything, and what it cannot commoditize it throws away as unprofitable. Capitalism, faced with the invaluable, conflates it with the worthless.
- The desire for profit, like any single-minded ideology, skews perception, clouds judgment, and corrupts the search for knowledge.