> For example, Capitalism is built on the philosophy of decentralized decision-making, whilst Communism is built on the philosophy of centralized decision-making.
That's not actually correct. Communism can be implemented as a centralized model as seen in USSR or China, but it also facilitates decision making done ground up with the workers driving the decision making process as seen with a cooperative ownership model. Richard Wolff explains different approaches here very eloquently https://www.youtube.com/watch?v=_ywyLiNT3Cs
Meanwhile capitalism promotes top down decision making, and necessarily leads to centralization and monopolies. The game of monopoly is a perfect illustration of this where every player starts in a fair position and over time all the power ends up being consolidated with a single player while the rest of the players lose everything.
This dynamic plays out in the real world as well. As companies compete, successful companies grow while unsuccessful ones die out or end up being absorbed by ones that are successful. As the company grows the amount of initial capital needed to compete with it grows as well. It's pretty much impossible for a small startup to start competing with a company like Walmart or Amazon because these companies leverage advantages like economies of scale and brand recognition.
If we look at capitalist economies we can see that monopolies and cartels are prevalent in pretty much every domain from telecom industry to food production to media and most other domains.
>The Chinese have their own way of implementing Capitalism which is largely informed by the legacy code from the philosophy of Communism.
This is also incorrect seeing that capitalism predates communism, and communism developed as a response to capitalism. It's also worth noting that communism and large public sector are the primary reasons why China is pretty much the only major growing economy after the pandemic. It's pretty evident that this "legacy" system is currently doing a lot better than capitalism.
That's not actually correct. Communism can be implemented as a centralized model as seen in USSR or China, but it also facilitates decision making done ground up with the workers driving the decision making process as seen with a cooperative ownership model. Richard Wolff explains different approaches here very eloquently https://www.youtube.com/watch?v=_ywyLiNT3Cs
Meanwhile capitalism promotes top down decision making, and necessarily leads to centralization and monopolies. The game of monopoly is a perfect illustration of this where every player starts in a fair position and over time all the power ends up being consolidated with a single player while the rest of the players lose everything.
This dynamic plays out in the real world as well. As companies compete, successful companies grow while unsuccessful ones die out or end up being absorbed by ones that are successful. As the company grows the amount of initial capital needed to compete with it grows as well. It's pretty much impossible for a small startup to start competing with a company like Walmart or Amazon because these companies leverage advantages like economies of scale and brand recognition.
If we look at capitalist economies we can see that monopolies and cartels are prevalent in pretty much every domain from telecom industry to food production to media and most other domains.
>The Chinese have their own way of implementing Capitalism which is largely informed by the legacy code from the philosophy of Communism.
This is also incorrect seeing that capitalism predates communism, and communism developed as a response to capitalism. It's also worth noting that communism and large public sector are the primary reasons why China is pretty much the only major growing economy after the pandemic. It's pretty evident that this "legacy" system is currently doing a lot better than capitalism.