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Governments create markets by creating and enforcing laws. Without government, without law, there would be no market. Capitalism allocates resources according
by 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 agoI 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.