Capitalism isn't about standards of livings, it's about exploitation of the majority by and for a minority, whether you give the exploited shackles or golden shoes.
Anything economic related is ruined on this board by what sound like ignorant 14 year old children on economics. Ignorant 14 year old children with an axe to grind with daddy.
Anything economic related is ruined on this board by what sound like ignorant 14 year old children on economics.
A century later, communism, The Communist Manifesto, was the observation that in practice capitalism is, much like its various predecessors, yet another way for minorities to rule over the masses.
Unfortunately, the utopian attempts to replace capitalism with communism have thus far demonstrated exactly the same problems that capitalism has.
A century later, we got Nash game theory, formalising the tragedy of the commons, the prisoner's dilemma, etc., — I suspect "the next big thing" will be based on this. (Scare quotes because it may already exist: communist thought had precursors before the Manifesto, and there was a big gap between the publication of the Manifesto and the Russian revolution).