While I do believe that capitalism is necessarily exploitative, my argument doesn’t hinge on that opinion.
If you look at what happens in those countries once they begin to implement social welfare policies, economic growth begins to slow dramatically, though it’s arguable that the causality is reversed and that welfare policies are enacted when economic growth is already slowed. In either case, welfare policies are a response to the fact that a decreasing rate of economic growth, when not coupled to an equal decrease in the growth rate of the supply of the workforce, leads to decreasing rate of improvement of the standard of living (however you’d like to define that).
Instead of assuming private production for profit and public redistribution for public good, the former which we operate in a market economy and the latter which we operate in a planned economy, which is essentially what most mixed economies now do, we could have public production for public good in a market economy. I refer you to the last comment on the page I linked to in response to Eugine above in order for a somewhat-better bu far from perfect delineation of the idea.
While I do believe that capitalism is necessarily exploitative, my argument doesn’t hinge on that opinion.
If you look at what happens in those countries once they begin to implement social welfare policies, economic growth begins to slow dramatically, though it’s arguable that the causality is reversed and that welfare policies are enacted when economic growth is already slowed. In either case, welfare policies are a response to the fact that a decreasing rate of economic growth, when not coupled to an equal decrease in the growth rate of the supply of the workforce, leads to decreasing rate of improvement of the standard of living (however you’d like to define that).
Instead of assuming private production for profit and public redistribution for public good, the former which we operate in a market economy and the latter which we operate in a planned economy, which is essentially what most mixed economies now do, we could have public production for public good in a market economy. I refer you to the last comment on the page I linked to in response to Eugine above in order for a somewhat-better bu far from perfect delineation of the idea.