Mark Cuban: Ocasio-Cortez, Sanders don’t understand socialism


Faux Business Noise has the article Mark Cuban: Ocasio-Cortez, Sanders don’t understand socialism.

“As someone who’s wealthy, as someone who is looking to benefit the company, every capitalist has got to do the same thing,” he said. “We’ve got to say, look if we if at the top make a little bit less and we help those at the bottom more, capitalism gets stronger. And it’s not socialism it’s stronger and smarter and more, better capitalism.”

There are some things that a society needs that are not well provided by profit driven systems, especially when capitalists in those systems are completely unrestrained. Health care, education, low-income housing, and infrastructure are some examples where the profit motive damages the delivery of these services.

Capitalists are always looking for ways to deliver services at less cost. They are willing to cut quality, cut wages, and use their power to squeeze out more profit from those less powerful than they are. Capitalists nowadays make more short term profits by foregoing long term investment. A society that intends to survive longer than one human generation has to take a much longer view. There are some things that can only be provided (funded) collectively in sufficient quantity and quality to assure the long term survival of the society.

Capitalists want to take advantage of what society provides, but they don’t want to bear the cost of providing it.

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