your implied argument for capitalism

The Guardian ran a piece on this a couple of years back. I'm no expert on GM, so I shan't comment. Let us allow that you are right on this point: I would nevertheless point out that there is no reason why a socialist should be opposed to economic and technical developments that benefit humanity. For a socialist, the problem with capitalism is not that every activity of capitalism is injurious to humanity (it isn't), but that it is a system that simply doesn't care one way or another whether its activities are beneficial or injurious to humanity and to the ecosphere in the long term. At the least, then, regulation is required, but then we face the problem that large coroporations tend to capture the public sphere, economic power tends to lead to political power, which means profit is put above the future of the planet. This is why a socialist will favour systemic change.