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No. You're confusing the free market economy (a mechanism) vs. capitalism (a political economical system). Competition leads inevitably to monopoly as the best
by pishpash 8y ago
No. You're confusing the free market economy (a mechanism) vs. capitalism (a political economical system). Competition leads inevitably to monopoly as the best and the winners prevail and entrench in political power, that's the central contradiction built into capitalism. You can't separate one from the other if you want capitalism. This is the classical Marxist critique.
- mindcrime 8y agoColloquially, "capitalism" and "free market capitalism" are used interchangeably. I understand the strict distinction, but in this context I don't think descending to that level of pedantry is really necessary.
- nickik 8y ago> Competition leads inevitably to monopoly This old marxist critique has been disproved over and over. It has been show that it does not even make sense in marxes own theoretical system. That why marx has no credibilty in economcis, his own theoretical system does not make sense. Marx himself had known this, and that's why he never published the second and third volume of 'Das Kapital'. Engels in a attempted to save Marx bacon made a competition where he asked people if the could find a solution (rather predict what Marxes eventual solution would be) and nobody found on. That is why Marx was obandend by economist in the first place. Since then we have also seen complete destruction of Marxist argument because of empirce, there is no inherent invetable centralisation, rather process that goes in different direction depend on many factors.