Purpose of Capitalism

“The purpose of capitalism is to allow our society to become better. A culture that opens doors for and nurtures the people we care about.

The issues of our time are education, corruption, access, infrastructure, civility and the downstream effects of the work we do.”

Seth Godin

12 Comments leave a comment below

  1. No. The purpose of capitalism is the accumulation of capital. If it allows our society to become better that is an unintended side effect. Other unintended side effects include rapid climate change, alienation, and inequality. Capitalism cares about education and infrastructure only as inputs to the system. We can’t rely on private industry to fix them.

  2. Has your website been hacked? If it were really this simple, the US would have the best education, infrastructure and civility on the planet. We don’t. The reality, of course, is that bettering society is much more complex than this. Improving society often comes at the expense of capitalism. To say otherwise is befuddling.

  3. Oh God, don’t be Hillary Clinton brainwashed!

  4. Capitalist efficiency: profit-driven insurance rates + profit-driven tax avoidance doom rural hospitals and deprive rural communities of basic healthcare.
    We need system change.


  5. Capitalist efficiency: profit-driven insurance rates + profit-driven tax avoidance doom rural hospitals and deprive rural communities of basic healthcare.
    We need system change.

  6. I don’t think this quote is true. But posting it shows how YOU think about the endeavors you support, many of which are successful ($$) and also enrich the lives of those they touch. Thanks for that.

  7. This quote is garbage. Capitalism has caused all these problems and more. Who is the “we” Godin cares about? My guess is other rich people. Some David Harvey is in order, please.

  8. Positive aspects of capitalism include innovation, personal responsibility, a sense of control over one’s own fate. The downsides, however, are staggering. Theorists like Cedric Robinson and C.L.R. James argue that slavery, genocide, and colonization are capitalism in action. The vast garbage dumps all over the world and the massive gap between the rich and the poor also come to mind.

    You are aware of all of the positive aspects of capitalism, as a very successful entrepreneur. Perhaps it would be eye-opening to reckon with some of the darker sides as well. Suggested reading: 23 Things They Don’t Tell You About Capitalism.

  9. Has this website been hacked? Otherwise, take care–neoliberalism is what got us into this Trump-era. Please don’t be complicit.

  10. This is a rare event: Im going to disagree with Seth Godin. This is not what capitalism is. You can have things like ‘a culture that opens doors…’ without all the other things that come with capitalism. At best, this is what capitalism would like to be.

    Capitalism: A planet-wide experiment where money is more important than everything else, even happiness. The goal being to get enough money to escape. Shall we start the conversation here instead?

  11. Capitalism has nothing to do with anything being ‘better’. It is for and about the accumulation of wealth. Over the past 20 years I’ve seen this sort of willful negligence when staring at economics in the eye by ‘tech’ people. We should be honest, above all, and honesty would point out the great harm almost all the production processes that create technological devices cause. What’s the answer? I have no idea, but looking honestly at the real issues is a better starting point than to pretend that capitalism is anything else but rather naked greed left to run wild. Does it have some side effects that we see as positive? Yes. But the downsides…well, we’re seeing them destroy the earth.