Comment on Why does China have so many multi billionaires if they are aiming to be a communist country?
Return_of_Chippy@lemmy.world 14 hours agoWhat do you mean?
Comment on Why does China have so many multi billionaires if they are aiming to be a communist country?
Return_of_Chippy@lemmy.world 14 hours agoWhat do you mean?
AlfalFaFail@lemmy.ml 3 hours ago
Instead of using the term good, I think the standard here is asking, “Do the billionaires have more power than the some other group? In this cases CPC.” And if the CPC has more power, “What role does the CPC imagine using the billionaires to development of society and the party goals?”
WoodScientist@lemmy.world 2 hours ago
“The ends justify the means.”
Surely that’s never caused any problems…
AlfalFaFail@lemmy.ml 2 hours ago
It depends if you think capital circulation is a necessary step along the way to a more just world. For Marxists, they see it as just another step in the process to socialism. There are reasons, and I’m happy to describe the theory if you’d like, but that’s what they believe. They see it as a process they can control verse a process in which they become exploited.
WoodScientist@lemmy.world 1 hour ago
I’m not really asking about capital circulation. I’m interested specifically in the billionaires. So why the billionaires?
I can understand the logic of having a market-based economy. It’s a very effective means of achieving compound economic growth. But a market economy does not require billionaires. There are numerous more equitable models that China could have built its system around. For example, they could have built their market economy based entirely around worker-owned co-ops. Co-ops can compete just fine in markets. Or, they could have gone with the current structure, but put in place a wealth cap. That’s been proposed before even in the US.
Why couldn’t China build a market economy, but just have a hard rule of “no one is allowed to amass more than X amount?” Even if people couldn’t hoard more than say, $100 million, that still gives people plenty of incentive to start new businesses, get an education, work hard, etc.