Both. It’s kind of like asking if monarchy is the problem or if the problem is just evil kings. Theoretically even a dictatorship can work out well for the people given a benevolent dictator. The issue is with the vulnerabilities inherent in the system. For capitalism, it’s that those with more money have more influence and thus it creates a feedback loop where those with more money have more power to get themselves more money and therefore more power and so on.
Unofficially. People start business for their benefit. Hiring family members is a good way to keep most of the money in the family. Similar with making deals with close freinds; like hiring your plumber buddy at the apartment you own and trying to pass the bill to the tenants or something. The thing is that nepotism just makes sense in a lot of places.
Both. It’s kind of like asking if monarchy is the problem or if the problem is just evil kings. Theoretically even a dictatorship can work out well for the people given a benevolent dictator. The issue is with the vulnerabilities inherent in the system. For capitalism, it’s that those with more money have more influence and thus it creates a feedback loop where those with more money have more power to get themselves more money and therefore more power and so on.
Is it the same though? Monarchy are built around the idea that there will be kings. Is nepotism enshrined in the capitalist idea?
Unofficially. People start business for their benefit. Hiring family members is a good way to keep most of the money in the family. Similar with making deals with close freinds; like hiring your plumber buddy at the apartment you own and trying to pass the bill to the tenants or something. The thing is that nepotism just makes sense in a lot of places.
Right, only in the same way meritocracy manifests itself in a capitalist system. In this way a 1 to 1 comparison to a monarchy can’t be made.