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Comment by HDThoreaun | Hacker News Reader

Worked out pretty well for me. Global poverty has never been lower largely thanks to globalization mostly pushed by corporations.

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And stealing innovations.

How much advancement was because of a corporation? Versus some engineer/scientist that just got a 5% bonus that year, while the discovery netted billons.

The factories that lifted billions out of poverty weren't created by the scientist that got a 5% bonus. They were created by corporations. Things could be better. They're better than ever before though.

Ideas are a dime a dozen. It takes a great deal of money to realize them.

Money is inanimate, it can't actually do anything by itself. It takes labour and resources to realize an idea, and money is one way to control how labour and resources should be directed. This is why money (capital) equates to power.

As a result, under capitalism, those with more capital have more power to generate more capital, leading to a feedback loop that concentrates capital.

Take China out of your global poverty numbers and see how that changes the story.

why would I do that? Are the Chinese not people?

They are ruled by an avowedly Marxist (state-capitalist) government, who have lifted hundreds of millions from abject poverty, in the largest economic miracle of our lifetimes.

I'm not saying it was pristine. But you make an extremely poor case against Marx, or the negative effects of US imperialism on the global poor.

Practically all of Chinas economic growth was after and due to economic liberalization that welcomed corporations into the country. China is easily the best example of how much more economically effective markets and property rights are than central planning and state owned everything. Their dumbass government literally starved tens of millions of people because of their ill advised central planning attempt

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