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Except large corporations hold more money than workers, even if divided per worker. So they can lobby more effectively and gain both the power over private algo
by paulryanrogers 4y ago
Except large corporations hold more money than workers, even if divided per worker. So they can lobby more effectively and gain both the power over private algorithms and regulations.
- robertlagrant 4y agoAgreed, but I mean people (or groups of people) are doing it. To put it another way, there are two types of actor: - the state, who has the ability to pass laws, collect money on pain of being locked up, penalise/encourage businesses through tariffs and regulations, and change the value of money through inflation - people and corporations, who have to provide value to receive money You're right, any of those can do good or bad with the money they receive. But to say that corporations hold the most power because they can lobby the people who actually have power doesn't make sense to me.
- paulryanrogers 4y agoCorps don't hold the most direct power. Rather governments so often defer to big companies or the same small club of rich and industry insiders that it's hard for workers to push back. Regulatory capture can also have the opposite of the desired result, yielding more power to companies instead of maintaining healthy societies.
- robertlagrant 4y agoFor sure. But regulatory capture is: 1) Government's fault. Don't get bribed and cosy with the industry you're regulating. We don't call cops teaming up with criminals "police capture". We call it corruption. 2) Predicated on governments being the biggest power, that rich companies can buy a small piece of their power.