Jason Hickel argues we need to democratise capitalism:
'capital does not allocate investment on the basis of what ordinary people actually need or want. It allocates investment to what is most profitable to capital, which may or may not align with human needs'....
By focussing on the needs where there is 'effective demand', capital skews its production reflecting social inequalities (which itself has produced).
Economic democracy is the answer.
#economics #democracy
https://jasonhickel.substack.com/p/why-capitalism-is-fundamentally-undemocratic
