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A couple of years ago, my stance was that the growth of mega-corporations would lead to economic inefficiencies which were 'as bad' as a centrally planned commu
by cryptica 4y ago
A couple of years ago, my stance was that the growth of mega-corporations would lead to economic inefficiencies which were 'as bad' as a centrally planned communist economy. But now my belief is that it will be worse because at least, in a centrally planned communist economy, there is some degree of socially beneficial collaboration between different industries... Here we have a handful of massive megacorps with distinct financial interests which are all trying to extract as much value from society by whatever means or excuses they can get away with... Won't this just lead us to China-style 'ghost cities'?
Amazon knows how to build warehouses, so they will just build ghost warehouses so long as government money printers will subsidize it; they can keep monetizing warehouses regardless of whether or not the market needs them. The entire economy is turning into some kind of Bitcoin-like mining scheme except instead of wasting electricity, Amazon will waste mostly concrete, steel and workers' time... It's incredible that while most people can't afford houses to live in, Amazon seems to be building more and more warehouses...
Megacorps are merely following the streams of currency from the money printers instead of following real consumer needs... Unfortunately, they have a lot of control over the money printers via their relationships with governments so they can make sure that they end up pointing towards wherever is convenient for them... They can turn a profit regardless of whether or not people need what they're offering.
Just look at big weapon manufacturers; they wanted some big juicy government contracts (funded straight from the money printers) and look at what they got; another war! Governments are all too happy to hand out all that free, freshly printed money to their buddies. Plenty of profits generated from destroying net economic value.
Vaccine manufacturers... Bill governments for billions of doses and then let governments worry about how to sell it to the public. Governments are systematically monetizing waste for the benefit of their corporate overlords with 0 concern for common social interests.