Political Memes

I think some in this thread do not fully realize what some of the inherent problems of capitalism are and how they relate to this issue.

In a capitalist economy resources and labour are generally allocated in a way that maximizes profit. Profit is determined based on the prices of things and prices are determined by the exchange value of those things. That often results in the price of something being way higher than what it cost to make it. One result of this is that capitalist economies allocate enormous amount of resources and labour to things that don't have any beneficial value to society. For example, some of the most skilled labour in America is tasked with figuring out how to get as many people as possible to spend as much time as possible looking at anger-inducing content on their phones. This isn't contributing in any meaningful, positive way to solving society's known, difficult long term problems, like ageing population. In fact it likely does the opposite.

In contrast, a socialist economy allocates resources and labour according to society's needs, which are determined by some mix of economic planning and limited market dynamics. Prices of things are determined through these processes and generally represent how much labour goes into them. As a result, keeping people angry wouldn't get many skilled engineers allocated to. Instead these people's labour would for example be employed in automating the shit out of the vital sectors for society's long term well-being. Like automation in agriculture, healthcare and elder care. And then since labour isn't allocated or paid on the basis of profit, the socialist economy can keep labour employed in sectors where proven automation already exists and gradually ramp up automation as they retire. Alternatively it could let people retire earlier, or have them do other work if they want to, like community service, or art, or R&D, or childcare, etc. As a result a socialist economy has a better ability to sustain itself with less labour while taking care of its elderly, without enduring crises.

Worse, a capitalist economy has to go through the real material changes, actually allocating labour and resources, producing the things it would produce with its current configuration in order for it to figure out what to change and what to do next. Thus we're faced with the horror of all these bad decisions that we currently see basically locked-in and consuming vast resources and labour until they become unprofitable or resources or labour are exhausted. Which means we're very likely to run into crises before the system adjusts to the new realities of diminished labour force. And then we'd likely (as we already are) rush into solving that by importing labour, which is going to get us into social instability due to racism, and we know how that goes. There are plenty current examples to go around. Meanwhile an economy that can do planning can model ahead of time what different future economic configurations would look like, make projections, choose a desired one and have resources and labour allocated on solutions today, thus increase the chances of avoiding acute socioeconomic crises or minimize their scale.

I hope this helps understanding the premise.

And for today's misallocation of resources in capitalism I give you - https://sh.itjust.works/comment/18820691.