anarchyagogo asked: What do you think about Marx' analysis of capitalism (in particular, that profits drive the economy)?
Marx is correct about the tenets of capitalism in many ways, but he gets every conclusion completely wrong. His rhetorical analyses always side with the proletariat, which fails to examine the other side of the equation when it comes to entrepreneurs, the wealthy, etc. Marx is a perfect example of a person who fell for the broken window fallacy. I do agree that profit drives the economy. Everyone in a capitalistic system tries to profit with each exchange, which he sees as an exploitation of the proletariat. He explains to readers that companies will explot workers by paying them low wages and forcing them to work in poor conditions, but that’s only true when it comes to corporatism with its system of limited supply. The fact that he never brings up how companies have to compete for workers with higher wages and better conditions proves that he either was ignorant or had an political/social agenda.
In the end, I agree that profit - better described as a feeling of unhappiness - drives the entire world. Capitalism is the only system in which this greed (for a better world and for a better life) makes everyone involved the happiest.
You asked a similar question here, so I’ll post that for other readers!