Alright capitalists this question is for you!
I think it's pretty fair to say the system is not currently functioning as a good representation of free markets and economic mobility.
Obviously communism isn't the answer, so it's up to free market advocates to show us a better way.
What reforms would you propose to make capitalism as it exists, work better at providing genuine wealth and opportunities instead of top-down planning?
@gabriel
Trigger warning: Some of these are pretty radical.
Short term:
- Eliminate corporate welfare / subsidies
- Flat tax. No more loopholes for people who can afford to spend $100k on accountants
- Limit legal fees and institute a loser pays system. Give the small guy a chance in the courtroom against megacorporations. Probably three dozen other refinements to cut down on the disproportionate power of retaining huge lawfirms.
Medium term:
- Eliminate corporate personhood and liability shields. Force the decision makers in the company to put their asses personally on the line for decisions they make.
- Eviscerate IP and copyright. Stop handing out government-enforced monopolies on ideas, thoughts, and speech like it's halloween candy. As a side bonus, it would cut WAY down on opportunities for passive income, bringing wealth accumulation more in line with economic contribution (aka: work in => money out).
- Sunset clause on ALL laws. Something generous like 25 years, but then it expires. There are too many laws on the books, and they create a MASSIVE economic drain.
Long term:
- Deregulate almost everything. In a free market, the long-term solution to almost every problem is competition. History has shown that every regulatory regime is eventually captured by the big players in the industry it is intended to regulate, and then used to punish the smaller players and prevent new competition from forming.
Trigger warning: Some of these are pretty radical.
Short term:
- Eliminate corporate welfare / subsidies
- Flat tax. No more loopholes for people who can afford to spend $100k on accountants
- Limit legal fees and institute a loser pays system. Give the small guy a chance in the courtroom against megacorporations. Probably three dozen other refinements to cut down on the disproportionate power of retaining huge lawfirms.
Medium term:
- Eliminate corporate personhood and liability shields. Force the decision makers in the company to put their asses personally on the line for decisions they make.
- Eviscerate IP and copyright. Stop handing out government-enforced monopolies on ideas, thoughts, and speech like it's halloween candy. As a side bonus, it would cut WAY down on opportunities for passive income, bringing wealth accumulation more in line with economic contribution (aka: work in => money out).
- Sunset clause on ALL laws. Something generous like 25 years, but then it expires. There are too many laws on the books, and they create a MASSIVE economic drain.
Long term:
- Deregulate almost everything. In a free market, the long-term solution to almost every problem is competition. History has shown that every regulatory regime is eventually captured by the big players in the industry it is intended to regulate, and then used to punish the smaller players and prevent new competition from forming.
