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This has been occupying my mind space lately. I used to describe this situation as “late stage capitalism” and lay the blame at capitalism’s feet. I’ve recentl

This has been occupying my mind space lately. I used to describe this situation as “late stage capitalism” and lay the blame at capitalism’s feet. I’ve recently done a 180 on that. The tangling of Copyright, Trademark, and Patent law into the mega-legal structure of “intellectual property” law has had devastating effects IMO. The government creates and protects monopolies, and then allows those monopolies to be bought and sold like playing cards. It’s not surprising that pools of money result in the concentration of these government created monopolies. This is most evident to me in healthcare. The pattern in the late 2000s and 2010s was to purchase up drug companies for their IP, gut the R&D, and jack up drug prices since the government would enforce their monopoly - and consumers had no choice since they needed the drugs. Yes this is GREED, but this isn’t capitalism. Capitalism would _solve_ this - but government actively stands in the way of letting market pressures fix that market.

somewhereoutth 5y ago
Governments create markets by creating and enforcing laws. Without government, without law, there would be no market. Capitalism allocates resources according to the decision making of holders of capital (assets, whether land, machinery, cash etc) - motivated by the desire to generate returns on that capital. This works pretty well, however it has a tendency to concentrate wealth in the hands of the few and away from the many. By enforcing patents etc, another asset class is constructed, ready for exploitation for revenue generation. Capitalism is thus extended - imagine if the government regulated fresh air, and allowed it to be bought and sold. Government is not the problem, and (more) capitalism is not the solution - it is bad government enabling the worst aspects of capitalism that is the problem, and it is good government harnessing capitalism for the benefit for everyone which is the solution.
- r3trohack3r 5y ago
  I don’t disagree with what you’re saying. The core of it is what I was trying to say; you said it more eloquently/precisely than I did.
WarChortle 5y ago
> Capitalism would _solve_ this - but government actively stands in the way of letting market pressures fix that market. No it wouldn't, Capitalism caused the issue. Its called Regulatory Capture. I don't understand how people can look at Capitalism and all of its failings and say more Capitalism is the solution. Maybe in theory, more Capitalism would solve it, but in theory Communism _should_ be a much fairer form of government and we all know how the USSR worked out. To say that Capitalism didn't cause this in the first place is laughable. Its gotten to the point that corporations or special interest groups are just writing some of the laws and having lawmakers champion them as if its their own bill. its called Model Legislation. Make no mistake this is full blown Late Stage Capitalism.
lamontcg 5y ago
It is rent-seeking behavior, which is the natural result of capitalism. The problem with idealistically pure capitalism is that then it concentrates wealth, then people apply that wealth to control government and establish rents for themselves. Then it is no longer idealistically pure. The ideal of capitalism where this would not happen and it would stay idealistically pure is a myth like a drug-free society.

somewhereoutth 5y ago

Governments create markets by creating and enforcing laws. Without government, without law, there would be no market. Capitalism allocates resources according to the decision making of holders of capital (assets, whether land, machinery, cash etc) - motivated by the desire to generate returns on that capital. This works pretty well, however it has a tendency to concentrate wealth in the hands of the few and away from the many. By enforcing patents etc, another asset class is constructed, ready for exploitation for revenue generation. Capitalism is thus extended - imagine if the government regulated fresh air, and allowed it to be bought and sold. Government is not the problem, and (more) capitalism is not the solution - it is bad government enabling the worst aspects of capitalism that is the problem, and it is good government harnessing capitalism for the benefit for everyone which is the solution.

r3trohack3r 5y ago
I don’t disagree with what you’re saying. The core of it is what I was trying to say; you said it more eloquently/precisely than I did.

WarChortle 5y ago

> Capitalism would _solve_ this - but government actively stands in the way of letting market pressures fix that market. No it wouldn't, Capitalism caused the issue. Its called Regulatory Capture. I don't understand how people can look at Capitalism and all of its failings and say more Capitalism is the solution. Maybe in theory, more Capitalism would solve it, but in theory Communism _should_ be a much fairer form of government and we all know how the USSR worked out. To say that Capitalism didn't cause this in the first place is laughable. Its gotten to the point that corporations or special interest groups are just writing some of the laws and having lawmakers champion them as if its their own bill. its called Model Legislation. Make no mistake this is full blown Late Stage Capitalism.

lamontcg 5y ago

It is rent-seeking behavior, which is the natural result of capitalism. The problem with idealistically pure capitalism is that then it concentrates wealth, then people apply that wealth to control government and establish rents for themselves. Then it is no longer idealistically pure. The ideal of capitalism where this would not happen and it would stay idealistically pure is a myth like a drug-free society.