

America’s extreme form of capitalism isn’t the the only form of capitalism.
With proper regulation and governnent incentives it is possible to make capitalism work to benefit the average Joe, and not just the oligarchs.
Europe for example runs on that capitalist model, and it works pretty well. You get the benefits of capitalism when it runs as it is supposed to, together with the benefits of the welfare state.







The welfare state isn’t capitalism working as intended. That wasn’t what I was saying, nor am I saying that the welfare state is a result of capitalism. That was ultimately a result of workers fighting for their rights.
What I am saying is that the government not leaning heavily into laisez-faire capitalism, and them interfering in capitalism where needed, is what is making the European capitalist model largely work as capitalism is supposed to work. The government is there to prevent negative externalities and prevent monopolies from forming.
Ultimately the “correct” implementation of capitalism doesn’t exist. Only one which creates the most benefit for the people while reducing its negative outcomes.
It is a tool you can use in places where it makes sense to use it in order to drive innovation and lower costs to consumers.
The government can set regulations in order to guide capitalism to that outcome, and can directly interfere to do things themselves in industries where it deems fit to do so.
Edit: Fixed a typo in my first sentence, making me say the exact opposite of what I was trying to say…