[quote="kaufmannphillips""]...we have a capitalist society where 95+% of the citizenry lacks the resources to influence or seriously challenge exploitation by the wealthy elite.[/quote]
I don't see why this would be true under laissez-faire conditions, can you please explain how you could reach this conclusion in a laissez-faire system? I can see many reasons why, in the USA, this is difficult (e.g. product regulations, tariffs, compulsory licensing, central banking, labor law, a complicated tax code, subsidies, patents, etc,.). All these obstacles, which hinder new entrants from starting a business, are creations of the State and thus would not form any valid critique of capitalism.
kaufmannphillips wrote:would be likely to meet the aggregate needs of the poor, absent some manner of coordination and compulsion
How do you define what are or are not "needs" of the poor? One might observe that most everyone considered "poor" today would be vastly wealthy compared to those who lived anything more than 100 years ago. Your former posts, however, give me the impression you would define "needs" in a strictly relative sense. If one person is able to produce vastly more than another, this does not diminish the ability of another with lesser abilities to also engage in production and enjoy the fruits of his own labor. But, if one judges on a merely relative basis, is this not a simple case of envy and covetousness - which is forbidden in the ten commandments?
For example, the late Steve Jobs may have been very wealthy, but he attained his wealth by providing electronic devices which benefit the lives of millions of people (also a great value). In fact, these people judged the money they gave to Mr. Jobs less valuable than that which they obtained from him. One cannot conclude Mr. Job's wealth came at the expense of society or anyone in particular. He benefited society more than most others owing to being vastly more productive. On what basis then could one say that he should not be permitted to keep all of what he earned?
kaufmannphillips wrote:If you think that our society would meet these needs under a laissez-faire paradigm, then try to mount a convincing argument for why that is plausible.
In addition to the already discussed incentive/diminished production problem under socialism (awaiting your reply on the usury thread), there is an also argument made by Ludwig Von Mises in 1922 pertaining to economic calculation in the socialist commonwealth (link in former post). The latter may well be a stronger argument than the former. Thus, one can conclude the structure of production is much better aligned to meeting human needs under capitalism than socialism. One can deduce that "real wages" (wages relative to costs of living) are more favorable under capitalism and the number of those in poverty in an absolute sense will be less. Also, the number of those with ability to give will be increased as well as their capacity for doing so. Consequently, ceretis paribus, it is better to be a poor person under capitalism than under socialism.
kaufmannphillips wrote:
Indeed, a decent socialistic system will insist on fair compensation for productivity
What is fair but retaining ownership of the full measure of what one produces? Above you appear to be affirming that there is no number one can specify that is objectively "not fair". Would it be a correct representation of your position to say that there is no lower bound whatsoever to the fraction one is compensated for his labor that can constitute a "fair" wage?
kaufmannphillips wrote:
meritocracy is frequently betrayed in capitalism...
Not so. The error here is substituting your values as a third party in place of those involved in the transaction. In capitalism the consumer retains the liberty to dispose of his income as he sees fit. "A" can only attain additional money by providing a good or service that "B" values more highly than the money he gives to "A" for it.
kaufmannphillips wrote:
People will have different opinions about where the desirable balance [of centralized power] lies. And so, people may become incensed about centralized power when it comes to policies they don't like, yet push for it when it comes to policies they do like.
The notable exception are those who are consistently and entirely anti-statist, namely the anarcho-capitalist position.
kaufmannphillips wrote:
society should make the best use of those resources that it can, prioritizing the legitimate needs of all constitutents over the privileges of constituents who are relatively skilled at acquiring money
Rather, society should not do so as advised. Aside from the receiving of charity, one only obtains money, goods and services from others in so far as one has also provided valued money, goods or services to others. Any interference of the State deviates from fairness, rather than improves upon it.