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Isn't monopolization an inevitable consequence of Pikkety's observed behaviour that capital begets more capital and it's increasingly concentrating in fewer pla
by DCKing 8y ago
Isn't monopolization an inevitable consequence of Pikkety's observed behaviour that capital begets more capital and it's increasingly concentrating in fewer places? Not only can concentrations of capital in private companies enable them to gobble up smaller competition until there is nothing left, it also enables them to control legislation over it.
I'm not sure if me observing this relation is correct, but if it is then politics must be very strong to resist the trend. I sure hope it is.
- petermcneeley 8y agoOnly tangentially. I recently finished Pikkety's "Capital" and found it very much to be (as you said) about observed behavior not theory. His primary discussion is about labor vs capital return split of output (and its resulting effect on individual inequality). He does discuss observed economies of scale for returns on capital which could have monopolistic effects. (aka returns on 1 million might be 5% but for 100 million might be 7%)
- deleted 8y ago[deleted]