this post was submitted on 28 Oct 2024
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Capitalism is indefensible from a libertarian perspective. A central libertarian tenet is that legal and de facto responsibility should match. However, the capitalist employer-employee contract inherently involves a violation of this tenet. The employer gets 100% of the legal responsibility for the positive and negative results of the enterprise. Despite workers' joint de facto responsibility for using up inputs to produce outputs, workers as employees get 0%
@canada
It's been a long time since I've read any of this stuff - do you have a reference for the claim about legal and de facto responsibility?
That being said, I would argue that they are not incompatible but rather that capitalism acts as a constraint on liberty. That being said, it is the economic system in which liberty is maximized relative to any other system. No doubt that's why it has persisted.
Liberty and longevity are not directly related. History has in fact shown the opposite. Like… capitalism is only a few hundred years old at most, and has only existed in its current form since the 18th century. Compare that to systems of fuedalism, monarchism, places that have had oppressive regimes since conception like Saudi Arabia. Also look at how our current form of capitalism has subsisted largely on the backs of usee countries being bled and made to kneel by usar countries, which is arguably the largest contributor to its perceived longevity.
Sorry, by "persisted" I didn't mean to imply that it's the oldest. More that it is surviving where other systems have failed.