Rex Kerr
1 min readApr 26, 2024

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The fundamental mechanism of capitalism does nothing to prevent abject poverty and death in an arbitrarily large subset of people. There's simply no reason that the dynamics have to work out in ways that cohere with our moral sense; indeed, compassion is, in most cases, a market inefficiency.

So I don't think we can say that capitalism itself is what has farther to go. Society has farther to go, and it had better not forget what you can get out of capitalism, but left to its own devices, capitalism ends up pretty nasty because there is no particular reason why ending scarcity is the result of maximizing marginal value. It happens to be a very effective optimizer in certain conditions, and therefore can be used as a highly effective tool to reduce scarcity, but you still need to pay attention to the society-wide dynamics and switch up the rules of the game if capitalism's incessant tendency to win at the game is highlighting that the game itself is flawed.

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Rex Kerr
Rex Kerr

Written by Rex Kerr

One who rejoices when everything is made as simple as possible, but no simpler. Sayer of things that may be wrong, but not so bad that they're not even wrong.

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