Yes capitalism is just another imperfect economic engine with inefficiencies made up by imperfect beings. Like any engine however it can be tuned to optimize certain metrics. Executives get paid exponentially more than the floor workers? Cap their pay as a multiplier relative to entry level pay and tax the rest if they still receive too much. Use the tax money to provide free healthcare, childcare, basic food assistance, public transportation, housing, social security, and infrastructure.
Even if the pay the average worker receives may not be high their standard of living would be noticeably improved. It’s the same reason why Americans receive higher pay than Europeans but Europeans still have a much better standard of living. I’d love to see a better economic model emerge but for the meanwhile, capitalism is one of the few things driving technological and scientific innovation in a lot of fields.
Yes capitalism is just another imperfect economic engine with inefficiencies made up by imperfect beings. Like any engine however it can be tuned to optimize certain metrics. Executives get paid exponentially more than the floor workers? Cap their pay as a multiplier relative to entry level pay and tax the rest if they still receive too much. Use the tax money to provide free healthcare, childcare, basic food assistance, public transportation, housing, social security, and infrastructure.
Even if the pay the average worker receives may not be high their standard of living would be noticeably improved. It’s the same reason why Americans receive higher pay than Europeans but Europeans still have a much better standard of living. I’d love to see a better economic model emerge but for the meanwhile, capitalism is one of the few things driving technological and scientific innovation in a lot of fields.