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What we have is no longer free-market capitalism, but "gangster" or "crony" capitalism. The only bright spot in the US economy is the one part that hasn't been
by patrickg_zill 10y ago
What we have is no longer free-market capitalism, but "gangster" or "crony" capitalism.
The only bright spot in the US economy is the one part that hasn't been taken over via regulatory capture, rent-seeking etc. - the Internet and related technologies. (Although Comcast, Level3, ATT and the incumbent telecoms are trying to change that).
This quote is very apt, though over 150 years old:
*"When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it. "