3 ms·
yes, that's a principle line of criticism of (crony) capitalism, that the efficient allocation condition no longer holds. greater wealth concentration enables g
by clairity 6y ago
yes, that's a principle line of criticism of (crony) capitalism, that the efficient allocation condition no longer holds. greater wealth concentration enables greater distortions, and ultimately to the destruction, of free and fair markets that are the crux of capitalism.
- wizzwizz4 6y agoWhen people defend capitalism online, they're usually defending crony capitalism – mostly because they're trying to defend capitalism against people criticising it, but don't know what capitalism is (other than that it's good).