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Regulatory capture is not inefficiency, it is an extremely efficient result of a system designed to serve capital. At some point we have to stop pretending like
by jdgoesmarching 5y ago
Regulatory capture is not inefficiency, it is an extremely efficient result of a system designed to serve capital. At some point we have to stop pretending like we aren’t successfully achieving what our economy is optimized for.
- xondono 5y agoRegulatory capture is impossible without government enforcement. The way to fight it is not by giving more powers to government but giving less.
- jdgoesmarching 5y agoI’m not sure what Libertarian-minded people think the era of peak neoliberalism was all about, but defanging the powers of government 50 years ago is how we’ve arrived at the modern corporatocracy. It turns out that taking power away from government doesn’t result in an anarchist paradise, it just swings the balance of power in favor capital. This is your paradise, your side won. Move the goalposts all you want, but we’re at the logical consequence of letting “the market” make every social, economic, and political decision.