There are mixed marks that seem to work. The one I’m most familiar with is private health insurance in the Netherlands. The market is very strictly regulated, all health insurers need to offer the same basic package - a cheap package that covers all the basics. And there is intense governmental oversight to check that the health insurers cover what they are supposed to. The capitalist aspect and the market economy enter mostly on the non-basic packages.
You can notice how it’s a very slow moving market, but it still generates profits for the owners and profits the society as a whole.
I hope something like this could be implemented more widely, where a strong tax redistribution system and strong regulations in favor of the less rich can counter the evident downsides of capitalism without killing neither private ownership nor market economy. Like we haven’t killed car traffic, we have very strongly regulated it.
There are mixed marks that seem to work. The one I’m most familiar with is private health insurance in the Netherlands. The market is very strictly regulated, all health insurers need to offer the same basic package - a cheap package that covers all the basics. And there is intense governmental oversight to check that the health insurers cover what they are supposed to. The capitalist aspect and the market economy enter mostly on the non-basic packages.
You can notice how it’s a very slow moving market, but it still generates profits for the owners and profits the society as a whole.
I hope something like this could be implemented more widely, where a strong tax redistribution system and strong regulations in favor of the less rich can counter the evident downsides of capitalism without killing neither private ownership nor market economy. Like we haven’t killed car traffic, we have very strongly regulated it.