Posted: Apr 13, 2020 2:20 am
by gobshite
Thommo wrote:
gobshite wrote:
Thommo wrote:
gobshite wrote:I'm thinking more about the repeated need for bailouts.

I fail to see the relevance, sorry. I struggle to conceptualise any non-pathological socialism based system of government that would not make equivalent efforts to underwrite affected areas of economic activity in response to a pandemic. Something that happens in both cases is not an argument for or against either one.
Red herring. That socialism may or may not likewise bail out an economy says nothing about capitalism's success/failure.

Not so. The epidemic was not caused by capitalism and capitalism's response* is directly equivalent to the response of the proposed alternative. That's completely relevant to the comparison.

An alternative is only preferable (in some regard) if it offers gains (in that regard and according to some system of values).

*Strictly speaking the response of governments who operate capitalist economies.
Why are you talking about alternatives? This is a red herring. The fact that capitalism had to be bailed out by the state is proof that capitalism couldn't handle this (and the GFC) crisis. It's a clear case of privatise the profits, socialise the losses.