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It's exactly capitalism because concentrations of capital form and end up with a critical mass that controls various aspects of society - in this case licensing
by WaxProlix 4y ago
It's exactly capitalism because concentrations of capital form and end up with a critical mass that controls various aspects of society - in this case licensing. It's also something that's literally happening under capitalism, right now, in very capitalist America.
- danuker 4y agoWhile I give your argument some merit, i.e. nobody should be able to corner a market, in this case a different concentration of capital keeps the supply low: the Big Higher Ed one, as opposed to Big Vet.
- astrange 4y agoIt’s a modern mixed economy. Full capitalism was the previous stage, when unlicensed doctors traveled around selling people radium cures. It’s actually very surprising we trust doctors so much (have inelastic demand for them) because for most of history doctors were more likely to kill you than not.