As in, of the version of capitalism that exists in the US? Before or after the FED was created (hello Marxist central banking) and that country has become just another tool where people decide close to nothing?
The "labor theory of value" as you put it, sounds like a noble idea only until you try to implement it, the history has shown it many times, and yet gullible people with little life experience still keep falling for it. Socialism can work in a small town where everybody is like a family, the larger the scale the more corruption and less trust ends up being part of the system, and it just turns into Venezuela or USSR with tyrannical govt and everybody stealing what they can.
Free market is how things work in nature, cruel but it works.
I've never said that I view capitalism as ideal or the best way of doing things, no system is perfect. And today you don't see much of it in the western world anyway, it's mostly aspects of kleptocracy that get falsely blamed on supposed faults of capitalism.
It is better because it works and grants the most amount of personal liberties to express yourself and live your life, pursue endeavors and invent new things. Overproduction of goods is somewhat better than underproduction (empty shelves), you're about to be able to compare the two if you live in the EU or US.
And as a side note, I find it beyond hilarious that people like you use inventions and devices that were created in many aspects thanks to capitalism, and then try to convince everybody that it's bad, on a website of a company that puts seed capital into startups (evil capitalism again!). You guys should just leave for Venezuela, and live your life there, enjoying socialism away from this terrible system that overproduces things and ruins the environment.
The "labor theory of value" as you put it, sounds like a noble idea only until you try to implement it, the history has shown it many times, and yet gullible people with little life experience still keep falling for it. Socialism can work in a small town where everybody is like a family, the larger the scale the more corruption and less trust ends up being part of the system, and it just turns into Venezuela or USSR with tyrannical govt and everybody stealing what they can. Free market is how things work in nature, cruel but it works. I've never said that I view capitalism as ideal or the best way of doing things, no system is perfect. And today you don't see much of it in the western world anyway, it's mostly aspects of kleptocracy that get falsely blamed on supposed faults of capitalism.
It is better because it works and grants the most amount of personal liberties to express yourself and live your life, pursue endeavors and invent new things. Overproduction of goods is somewhat better than underproduction (empty shelves), you're about to be able to compare the two if you live in the EU or US.
And as a side note, I find it beyond hilarious that people like you use inventions and devices that were created in many aspects thanks to capitalism, and then try to convince everybody that it's bad, on a website of a company that puts seed capital into startups (evil capitalism again!). You guys should just leave for Venezuela, and live your life there, enjoying socialism away from this terrible system that overproduces things and ruins the environment.