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It's 'late' as in a stage that comes after the earlier stages. A collapse isn't guaranteed nor inevitable. There could just be a continual freezing out of compe
by Eddy_Viscosity2 2y ago
It's 'late' as in a stage that comes after the earlier stages. A collapse isn't guaranteed nor inevitable. There could just be a continual freezing out of competition until all that's left are entrenched classes of 'capital owners / rent extractors' living large, and everyone else struggling to get by. With modern computer-aided surveillance and monitoring and compliance capabilities, the capital owners could maintain the system pretty effectively. No collapse, just a a slow slide into well managed misery.
- 4RealFreedom 2y agoThere will always be "haves" and "have nots". That's been the case since forever. Standard Oil ruled the world. AT&T did, too. I agree that monopolies are bad. We should pressure our government to break them up. Will that help with people trying to find jobs in an inferior job market? That's where this conversation started. We need a strong job market. Competition can help that. We will always have bad job markets, though. It's part of the cycle. Nothing lasts forever.