3 ms·
This is a great take. > What is the end state if we let this continue? One of the pillars of capitalism is the idea of "creative destruction" (https://en.wiki
by gen220 6y ago
This is a great take.
> What is the end state if we let this continue?
One of the pillars of capitalism is the idea of "creative destruction" (https://en.wikipedia.org/wiki/Whale_fall https://en.wikipedia.org/wiki/Whale_fall). That is, when a moderately-sized company falls apart, it's actually a long-term positive for the economy as a whole. It's decomposed, sold off, and its former pieces are repurposed for the good of all.
One purpose of antitrust law is to keep the cycle of whale falls going. If antitrust law is unenforced, the whales never fall, which has a negative impact on the fragility of our economy: if and when these megacorps become anemic, they threaten to take down the whole economy/whale-decomposition process with them.