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Also, capitalism itself needs to be guided, or it will escape and ruin the rules until it's no longer capitalism, except in name only.
by jacobush 7y ago
Also, capitalism itself needs to be guided, or it will escape and ruin the rules until it's no longer capitalism, except in name only.
- muzani 7y agoWouldn't guiding a free market be opposed to the concept of a free market?
- mcguire 7y agoAnti-trust laws, for example. Safety and environmental regulations.
- jacobush 7y agoYes. In some sort of ideal world, where corporations would never dream of regulatory capture, abusing a monopoly position, finding ways to keep upstarts out of the way. In the real world, capitalism is an unstable system. The "winner" gets too close to the state and then tries to shape the rules so they fit the incumbent and discourages everyone else. Boeing and the FAA is a recent high profile example.