Political Memes

You said the govenment ahould decide how capital is allocated, and not capitalists. What is it if not central planning?

I assume it's implied we're talking about investment capital considering you said taxing the rich would reduce their ability to invest and I talked exclusively about investing.

Competition and profit motive create incentives to decrease production costs, increase production, look for new markets and lower the price(not always, do not tell me about when this is not the case, I know).

None of those things have anything to do with the existence of wealthy people.

And both capitalists and upper management exist in a very pressured environment. Capitalists have to allocate resources correctly, because they own them. For that reason, they are careful when investing, and only do economically sensible things(if they themselves are sensible, and if they are not they will see their capital diminish)

Maybe 50-100 years ago. Do you really think Google, Amazon, Meta and anything Elon Musk touches exists in a pressured environment? Google has so much money they can create new tech for a new product and then 2-3 years later throw the tech with the product into the dumpster. Amazon has deliberately attritioned out an entire market (by undercutting everyone) to create a monopolistic empire. Meta "expansions" into other markets have been exclusively through buying out a potential competitor, because they just have that much money. And Musk blew away 42 billion to run one of the biggest social media sites into the ground. They don't feel pressure. They don't need to allocate resources correctly. Mega corporations have so much capital they don't even know what to do with it. They probably could torch half their market value and their closest competitor still wouldn't be competition to them.

Or did you mean the time wall street literally crashed the economy so hard the government had to bail them out? When it comes to the wealthy there are no risks.

This is the system that made America the largest economy in the world.

And for what purpose? Who benefits from having the largest economy in the world? It's clearly not the American people.

The same can not be said about government owned firms. I said nearly unlimited, and this is more or less the case. Governments throw money at the problem until it is solved, since there is no profit motive, no pressure to perform, costs are higher, performance is worse, etc. Of course, they try to optimise, but history shows that they are almost always less efficient than private firms.

You're trying to say China isn't on the verge of beating the US in the economic game? It has nothing to do with who controls the company, it's about how much you make your employees slave away. The more they slave the more profitable you'll be. Government entities tend to be "less efficient" because there's higher scrutiny towards slaving away (they can still end up slaving away because they're usually underfunded so one person has to fulfill multiple roles, but that's because there's not enough taxation coming in due to us not properly taxing the rich).