notes-econ-capitalismFlaws

(i like capitalism but it's not perfect)

ways in which capitalism is inhumane

1) the optimal degree of volatility for long-term economic growth is so high that it is stressful to humans 2) economic efficiency (at least in a society where technology is improving) implies frequent structural change, but change makes many humans unhappy 3) people want to think of other people as friends or enemies, not as counterparties whose perspective should always be understood for optimal negotiation. 4) it's optimal to negotate harder than is polite 5) people think of jobs as a fixed role, a certain set of things they are supposed to do. 5a) one consequence: if they have extra time after that on the job they see no reason to do anything extra, and in fact think it is unfair if they are asked to do more work than they used to for the same compensation. from capitalism's perspective, though, they have sold a fixed amount of time per week and may be asked to do anything during that time. 5b) another consequence: people are very stressed if after holding a job for a long time they are fired 6) loyalty; people expect loyalty from their bosses/company, but according to capitalism, past service has been fully accounted for by past salary 7) people get insulted if they are subordinated when they perceive it as improper (inconsistent with primate hierarchical programming) (note, however, that unlike some Nietzschean or equality ideal, people are happy being subordinated when they perceive it as proper, even if they do not perceive it as fair). 8) loyalty; people feel ethically bound to hire and promote their family and friends, but capitalism requires an ethics in which this is unethical 9) compassion vs agency; capitalism demands an ethics in which it is improper to spend someone else's money on a compassionate cause, but individuals feel this is okay if 'someone else' is sufficiently disconnected 10) lack of mass loyalty; people wouldn't waste their neighbor's money but are happy to waste shareholders' money. People feel much more ethically bound to someone they personally interact with face-to-face.