4 ms·
It's just capitalism. Like read ONE(1) book please for the love of god. Concentrating a lot of wealth in the hands of few people who then have complete power o
by fcantournet 6y ago
It's just capitalism.
Like read ONE(1) book please for the love of god.
Concentrating a lot of wealth in the hands of few people who then have complete power over what human endeavor gets funded, and potentially given insane financial advantages over more virtuous competition, to obtain monopolistic positions.
It turns out : this is bad, empirically.
Of course any analysis a priori would have also netted this result.
- admiralspoo 6y agoIt's not capitalism, it's simple game theory and the economic system under consideration is quite irrelevant. Monopolies of all kinds are bad. Including monopolies of government.
- kazagistar 6y agoMonopolies (or even high concentrations) of power are bad, whether that's financial or legal or whatever. However, democratization can redistribute that power back amongst the people. The goal should be to work towards nearly even power, which prevents the abuses in power. If the government was controlled by the people, its "monopoly" wouldn't really be one, because it couldn't be abused by those who wield power within it.
- nickpp 6y agoList of governments controlled by their people: ...
- dasudasu 6y agoHow are we supposed to fund new capital-intensive ventures otherwise? The government just subsidizes everything at the taxpayers' expense? (Welcome to Canada and Europe.) The government just picks winners in advance? (Welcome to the PRC.) Capitalism is supposed to reward people that were able to succeed from previous ventures, or alternatively allow people to voluntarily pool more modest amounts of capital together. Everything gets distorted in the real-world, of course.