What is Capitalism
- Thread starter Luxman
- Start date
Luxman
#TRE45ON
How a shipping error 100 years ago launched the $30 billion chicken industry - Feb 10, 2023
https://www.vox.com/future-perfect/...ile-steele-chicken-meat-poultry-eggs-delaware
https://www.vox.com/future-perfect/...ile-steele-chicken-meat-poultry-eggs-delaware
Little Red Wagon Repairman
MFOMBSoPGA
Hey Lux, how much do you think McDonald's employees should be paid by the hour? Also, how much do you think a Big Mac should cost?
Luxman
#TRE45ON
I haven't eaten at a McDonalds in at least 7 years, I never worked at a McDonalds, or owned a business, so I defer back to you to answer your own questions.
Little Red Wagon Repairman
MFOMBSoPGA
Well if their hourly wage gets too high the Big Mac will become more expensive and customers will stop by McDonald’s less often. Agree or disagree?
Little Red Wagon Repairman
MFOMBSoPGA
This same math would also apply to places who serve healthier food. Your wallet gets restricted whether your calories do or not.
Little Red Wagon Repairman
MFOMBSoPGA
Gmase, I mentioned healthy food places also have prices go up when the labor cost goes up. When food prices go up customers think twice about spending their money there. When business lose enough customers they tend to close.
Last edited:
Luxman
#TRE45ON
How to make capitalism fair and efficient?
The concept of making capitalism fair and efficient requires a balance between competition and regulation. Capitalism can work by promoting competition, innovation, and entrepreneurship while also ensuring that there are fair regulations in place to prevent the abuse of power by dominant market players.
Here are a few potential ways to make capitalism fair and efficient:
1. Encourage Competition: Competition spurs innovation and efficiency. The government can promote competition by enforcing antitrust laws that prevent companies from creating monopolies. Encourage multiple players to enter the market and compete with each other by reducing entry barriers. This way, consumers will have more options to choose from, and it will drive businesses to improve their products and services.
2. Fair Taxation: The government can ensure that everyone pays their fair share of taxes, including corporations. Tax policies should be designed to encourage investment, job creation, and economic growth.
3. Social Safety Nets: While capitalism can provide opportunities, it can also create economic inequality. Welfare programs, targeted assistance, and education opportunities can help reduce poverty, providing a safety net for those who cannot take advantage of capitalism.
4. Environmental Regulations: Environmental costs and benefits are not factored into market prices. To make capitalism fair and efficient, the government can regulate pollution and encourage environmentally-friendly business practices that consider the long-term environmental effects of economic activity.
5. Protect Worker Rights: Enforce minimum wage, working hours and benefits regulations. This will encourage a well-informed organized labor force and promote long-term economic stability.
6. Embrace innovation: Innovation is the key to long-term success. Encourage businesses to innovate by offering tax breaks or other incentives. This will not only improve their products and services but also create new jobs and drive economic growth.
7. Protect consumers: Protect consumers by ensuring that businesses provide transparent information about their products and services, adhere to safety and quality standards, and do not engage in deceptive or unfair practices.
8. Regulate when necessary: Capitalism needs regulation to prevent the abuse of power by dominant market players. Governments can create rules and regulations to protect consumers, prevent anti-competitive behavior, and ensure fair trade practices.
9. Provide equal opportunities: Ensure that opportunities are distributed equally regardless of one's race, gender, or socioeconomic status. This will level the playing field and prevent businesses from exploiting vulnerable communities.
These are just some suggested solutions. A balance of all factors is required to achieve a fair and efficient economic outcome.
~ Anonymous AI
The concept of making capitalism fair and efficient requires a balance between competition and regulation. Capitalism can work by promoting competition, innovation, and entrepreneurship while also ensuring that there are fair regulations in place to prevent the abuse of power by dominant market players.
Here are a few potential ways to make capitalism fair and efficient:
1. Encourage Competition: Competition spurs innovation and efficiency. The government can promote competition by enforcing antitrust laws that prevent companies from creating monopolies. Encourage multiple players to enter the market and compete with each other by reducing entry barriers. This way, consumers will have more options to choose from, and it will drive businesses to improve their products and services.
2. Fair Taxation: The government can ensure that everyone pays their fair share of taxes, including corporations. Tax policies should be designed to encourage investment, job creation, and economic growth.
3. Social Safety Nets: While capitalism can provide opportunities, it can also create economic inequality. Welfare programs, targeted assistance, and education opportunities can help reduce poverty, providing a safety net for those who cannot take advantage of capitalism.
4. Environmental Regulations: Environmental costs and benefits are not factored into market prices. To make capitalism fair and efficient, the government can regulate pollution and encourage environmentally-friendly business practices that consider the long-term environmental effects of economic activity.
5. Protect Worker Rights: Enforce minimum wage, working hours and benefits regulations. This will encourage a well-informed organized labor force and promote long-term economic stability.
6. Embrace innovation: Innovation is the key to long-term success. Encourage businesses to innovate by offering tax breaks or other incentives. This will not only improve their products and services but also create new jobs and drive economic growth.
7. Protect consumers: Protect consumers by ensuring that businesses provide transparent information about their products and services, adhere to safety and quality standards, and do not engage in deceptive or unfair practices.
8. Regulate when necessary: Capitalism needs regulation to prevent the abuse of power by dominant market players. Governments can create rules and regulations to protect consumers, prevent anti-competitive behavior, and ensure fair trade practices.
9. Provide equal opportunities: Ensure that opportunities are distributed equally regardless of one's race, gender, or socioeconomic status. This will level the playing field and prevent businesses from exploiting vulnerable communities.
These are just some suggested solutions. A balance of all factors is required to achieve a fair and efficient economic outcome.
~ Anonymous AI
Theopolis Q. Hossenffer
I am in America, not of it.
Never fit in. Way to logical and has too much common sense.
