Comments by "robs2020" (@sbor2020) on "'The British people AREN'T STUPID!' - Labour 'will be held to account' for their 'broken promises'" video.
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@rogerbennett9641 With that level of analysis, how can you be so sure? Do you even know what socialism is? How can you justify capitalism being said to be “good”? What is your definition of capitalism? When we have had unfettered free market capitalism, the price of "unfettering" has been disastrous: Chile, Liz Truss. In the case of Truss this meant principles of lower taxes and deregulation, the implementation leading to severe economic repercussions. I suppose you will argue on the side of “Trickle-down” economics, also known as supply-side economics, which states that benefits provided to the wealthy or businesses will eventually “trickle down” to the rest of the economy through investment, job creation, and economic growth. However, evidence and analysis over the years have suggested that this theory does not effectively achieve its intended outcomes.
It's important to recognise that even though capitalism has brought many great things, that there is the broader systems of capitalist exploitation, and capitalism “on steroids” – neo-liberalism. These systems aim to hollow out identity, destroy collective action, and strip civil and labour rights in pursuit of cheaper resources and labour to maximize profits. In contrast, a truly democratic society emphasises participatory democracy, where citizens are directly involved in decision-making through mechanisms like citizen assemblies, referendums, and participatory budgeting. Such approaches, like the UK's Climate Assembly and local participatory budgeting initiatives, can increase trust and legitimacy, improve decision-making, and foster accountability and social cohesion.
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