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Free markets work as long as there's competition. When companies become so big they can kill any nascent competitor on a whim, that's when it becomes an issue.
by stjohnswarts 5y ago
Free markets work as long as there's competition. When companies become so big they can kill any nascent competitor on a whim, that's when it becomes an issue. That's why trust busting and regulations and governments are necessary.
- stjohnswarts 5y agoI've had this argument many times with my friends who are libertarian leaning and they start hand waving when you bring up a 100 different examples of companies being downright evil when they became too large.
- stjohnswarts 5y agoI usually go back to the East Indian Tea company and work my way forward. I love my Libertarian friends as far as social and individual rights are concerned (something Republicans seem to have given up on, except for the 2nd amendment) but have lively debates on limits on capitalism, even though I am a capitalist with asterisk marks and think Communism is a terrible form of government.
- adrianN 5y agoFree markets need not only competition, but also regulation to price in externalities like poisoning the air or causing climate change.
- stjohnswarts 5y agoI will agree with this, to me this falls under "regulation from the government"
- acuozzo 5y agoHow does competition fix this? https://www.nbcnews.com/health/cancer/how-dupont-may-avoid-paying-clean-toxic-forever-chemical-n1138766 https://www.nbcnews.com/health/cancer/how-dupont-may-avoid-p...