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I really agree with this analogy. We are in such a weird state in America because we think Capitalism is some kind of natural state where everyone plays fair, w
by djsumdog 8y ago
I really agree with this analogy. We are in such a weird state in America because we think Capitalism is some kind of natural state where everyone plays fair, when the reality is, the State has always had to regulate competition to make sure it's actually competitive.
The US broke up AT&T, American Standard Oil, US Steel and several others:
https://en.wikipedia.org/wiki/History_of_United_States_antitrust_law https://en.wikipedia.org/wiki/History_of_United_States_antit...
Galloway has a great talk about why we should break up big tech, because that's how capitalism is suppose to work.
https://www.youtube.com/watch?v=6NyFRIgulPo https://www.youtube.com/watch?v=6NyFRIgulPo
- lovich 8y agoI don't think we disagree? The railroads were forcibly regulated by the government so that they no longer had that power. The government is back stepping on that view when it comes to Net Neutrality.
- Florin_Andrei 8y agoTLDR: The attractor for the "free market" as a dynamical system is a few supergiants lording it over the vast multitudes. A steady stream of corrections is needed to make sure the system doesn't end up in that particular ditch.