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Capitalism has failed in a way. The free market was supposed to facilitate competition. But what we've seen is increasing consolidation, not competition. Most i
by puranjay 8y ago
Capitalism has failed in a way. The free market was supposed to facilitate competition. But what we've seen is increasing consolidation, not competition. Most industries are dominated by a handful of players who gobble up smaller rivals, who, after raising millions in funding, are too happy for the exit.
All data shows the same: competition is being trumped by consolidation and its eventual end, cartelization
- TimTheTinker 8y ago> Capitalism has failed in a way. That's not to say that capitalism is thus refuted as an economic model. All it means is that someone hasn't been doing an adequate enough job (probably regulators or lawmakers, in this case). Capitalism's success is always a function of adequate rule of law, economic regulation, social trust, and personal generosity. Where those are present, it absolutely trounces other models.
- sitkack 8y agoCapitalism is astable and requires a negative feedback framework to operate properly. It also has a narrow habitable zone otherwise it will cause an ecosystem collapse. Capitalism isn't just a hand, it is mostly a mind that runs as an overlay over all the participants willing or not, and it isn't very bright, but it is very powerful. We are all but rabbits under its strong hands. https://www.youtube.com/watch?v=ArNz8U7tgU4 https://www.youtube.com/watch?v=ArNz8U7tgU4
- CardFellow 8y agoI'll agree that processing is surprisingly lightly-regulated.
- pas 8y agoglobal markets, network effects are king. these services should not operate as for-profits. though efficient oversight is also hard :(