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Polymarket gamblers betting millions on war

theguardian.com

21–30 of 138 posts

Re: Polymarket gamblers betting millions on war

#21
post #12

Earlier quoted context omitted.

[flagged]

Capitalism neither prevents gulags nor famines. And you can bet (pun intended) someone will create them on purpose if they can make profit from it

Except it does? Capitalist countries don’t seem to have any famines. You could argue that for profit prisons are similar to gulags in some ways but the important differences are so vast it’s hard to compare them honestly.

Re: Polymarket gamblers betting millions on war

#24
post #12

Earlier quoted context omitted.

Capitalism neither prevents gulags nor famines. And you can bet (pun intended) someone will create them on purpose if they can make profit from it

Please do share what capitalist country had a famine in the past century.

https://en.wikipedia.org/wiki/Bengal_famine_of_1943

Re: Polymarket gamblers betting millions on war

#25
post #12

Earlier quoted context omitted.

Capitalism neither prevents gulags nor famines. And you can bet (pun intended) someone will create them on purpose if they can make profit from it

Please do share what capitalist country had a famine in the past century.

Niger springs to mind, massively capitalist with a lot of oil and mining

Re: Polymarket gamblers betting millions on war

#26
post #20

Earlier quoted context omitted.

Please do share what capitalist country had a famine in the past century.

Lots of African countries have market economies and also poverty and hunger.

Poverty and hunger are not famine

Re: Polymarket gamblers betting millions on war

#27
post #12

Earlier quoted context omitted.

Capitalism neither prevents gulags nor famines. And you can bet (pun intended) someone will create them on purpose if they can make profit from it

Except it does? Capitalist countries don’t seem to have any famines. You could argue that for profit prisons are similar to gulags in some ways but the important differences are so vast it’s hard to compare them honestly.

Capitalist countries don't have famines at home. That's different from "capitalism prevents famines". Capitalism is happy to cause hunger, inflict death, or imprison people if it's profitable for capitalists, that's baked into the structure of the structure of the system. There's no systemic feature of capitalism that directs capital generating activity unless it violates natural and human rights.

Re: Polymarket gamblers betting millions on war

#28

Earlier quoted context omitted.

Betting with one another predates any notion of capitalism, or economy.

True, but capitalism eventually makes gambling the whole economy.

I don't think it does. Capitalism only allows one to save one's fruit of their labor to use down the line. You exchange it for money, then use that money to buy other stuff.

People using it to gamble has more to do with gambling people than with capitalism people. You can have gambling in communism or socialism, only stakes there are limited because the fruit of the labor of people doesn't belong to them like in capitalism.

Re: Polymarket gamblers betting millions on war

#29
post #12

Earlier quoted context omitted.

Capitalism neither prevents gulags nor famines. And you can bet (pun intended) someone will create them on purpose if they can make profit from it

Please do share what capitalist country had a famine in the past century.

Give it a bit!

https://www.npr.org/2026/03/26/g-s1-115240/iran-war-strait-h...

(I'm being snarky here, but COVID definitely exposed some supply chain vulnerabilities.)

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