Capitalism is a monster. If its reins are not held, the system will collapse.
While pure leftist ideology advocates for the equality of all, modern leftism, from a pragmatic perspective, functions as a 'brake' to prevent capitalism's ruin.
1. Control of Destructive Monopolies
The nature of capital is akin to a snowball, ultimately concentrating all wealth in the hands of a few (the Matthew Effect). Left unchecked, 99% of the population, excluding the 1% capitalists, will be reduced to serfdom, leading to a collapse of purchasing power and civil unrest. The left posits that to avert this, the state must intervene to forcibly redistribute wealth and guarantee workers' rights.
2. The Pitfall of Solidarity and Equality
However, when progressivism veers to extremes and attempts to forcibly engineer 'equality of outcome,' society loses its incentive for diligence. The descent into a quagmire of downward leveling, where the capable are hobbled to match the less able, is the eternal dilemma confronting the left.