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The breakdown occurred because we no longer prevent mergers and acquisitions on the basis of regional monopolies or impact on local economies, but on whether co
by kesselvon 9y ago
The breakdown occurred because we no longer prevent mergers and acquisitions on the basis of regional monopolies or impact on local economies, but on whether consumer prices are increased or decreased.
Capital accumulates, and if you let it, it will suck everything out from the country and suburban areas and concentrate it in the major cities. The decline of rural America has everything to do with the flows of capital and not a lot to do with whether small towns are sustainable.
- princeb 9y agocapital goes where labour goes, and labour goes where capital goes. it's easy to forget that capital is not simply money but everything else that is not labour - buildings, facilities, machines, computers, etc. this is not a central planned economy. people organize where they want to organize and it turns out large cities are increasingly where people want to do that. people - the ones who choose neither to move to rural communities nor to bring custom - and not capital, are the systematic destroyer of local communities. mergers, like large cities, are just another symptom of humanity's unsatisfiable desire for efficiency. competition good, cooperation better.