Capitalism is the idea that those that own the means of production own the profits from them.
Meritocracy is the idea that those with skill will prevail over those without.
I can agree on these definitions.
the problem is that that which capitalism holds in high merits is that which generates capital at the fastest rate
I tend to disagree with this, not that it’s entirely incorrect, but I think quality can’t be disregarded; can the product be made safely is another factor; then innovation plays a role allowing for higher quality products at faster rates. These aren’t smoke screens that some capitalist business man made up to trick you into thinking they are altruistic. These are things that might that effect bottom line.
Let’s switch back to the question, how would nepotism effect any of these things. Well, if the higher quality, safely produced, innovative product can’t come to market because it’s competing against people who have hoarded wealth though centuries long line of succession it’s not because capitalism has failed. Maybe it is, maybe this definition of capitalism would not prevent this type of stagnation. Would it be possible to expand the definition of capitalism, or even just build on the basic principle? I don’t know.
Consumers do not care about safety, or else we wouldn’t buy oil or gasoline, and we wouldn’t buy clothing made in sweatshops. Companies follow safety guidelines because of fines or other punitive measures that could affect the bottom line, and you have to admit that the bottom line is the chief concern here, and not the safety of the workers of consumers. This is a problem that capitalism is forced to deal with with government oversight because it is a failure of capitalism.
Nepotism merely makes this failure worse, but the system would be an issue even without nepotism. Businesses can perform risk assessments to determine if ignoring guidelines would make more money than the cost of restitution would incur.
Capitalism needs oversight to work fairly, but it doesn’t really need oversight to do what it does best: Make those with capital more capital. The system generates profit for those with capital, and that means it makes the wealthy wealthier (and that’s entirely by design.) You can argue nepotism causes the unfairness, but it doesn’t, since the profits feed back to the capital owners and not the workers by definition. Oversight is the only thing that can make it even close fair.
This a gross misunderstanding of my statement and a gross misunderstanding of safety. We are far beyond seamstresses burning up in a building with no escape route. The cost of an incident has tangible costs. How will production continue if your sugar mills keep blowing up? Who will make your product if your workers keep breaking their backs? How will tribal knowledge of your process be preserved if your workers keep dying from inhaling toxic fumes? How will you meet deadlines if you’re equipment keeps igniting?
Sorry, you’re up your own ass thinking only as a share holder rather then the actual labor that makes profit.
I can agree on these definitions.
I tend to disagree with this, not that it’s entirely incorrect, but I think quality can’t be disregarded; can the product be made safely is another factor; then innovation plays a role allowing for higher quality products at faster rates. These aren’t smoke screens that some capitalist business man made up to trick you into thinking they are altruistic. These are things that might that effect bottom line.
Let’s switch back to the question, how would nepotism effect any of these things. Well, if the higher quality, safely produced, innovative product can’t come to market because it’s competing against people who have hoarded wealth though centuries long line of succession it’s not because capitalism has failed. Maybe it is, maybe this definition of capitalism would not prevent this type of stagnation. Would it be possible to expand the definition of capitalism, or even just build on the basic principle? I don’t know.
Consumers do not care about safety, or else we wouldn’t buy oil or gasoline, and we wouldn’t buy clothing made in sweatshops. Companies follow safety guidelines because of fines or other punitive measures that could affect the bottom line, and you have to admit that the bottom line is the chief concern here, and not the safety of the workers of consumers. This is a problem that capitalism is forced to deal with with government oversight because it is a failure of capitalism.
Nepotism merely makes this failure worse, but the system would be an issue even without nepotism. Businesses can perform risk assessments to determine if ignoring guidelines would make more money than the cost of restitution would incur.
Capitalism needs oversight to work fairly, but it doesn’t really need oversight to do what it does best: Make those with capital more capital. The system generates profit for those with capital, and that means it makes the wealthy wealthier (and that’s entirely by design.) You can argue nepotism causes the unfairness, but it doesn’t, since the profits feed back to the capital owners and not the workers by definition. Oversight is the only thing that can make it even close fair.
This a gross misunderstanding of my statement and a gross misunderstanding of safety. We are far beyond seamstresses burning up in a building with no escape route. The cost of an incident has tangible costs. How will production continue if your sugar mills keep blowing up? Who will make your product if your workers keep breaking their backs? How will tribal knowledge of your process be preserved if your workers keep dying from inhaling toxic fumes? How will you meet deadlines if you’re equipment keeps igniting?
Sorry, you’re up your own ass thinking only as a share holder rather then the actual labor that makes profit.