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Capitalism and free market forces are not a magic bullet that will automatically optimize for your preferred utility function. They will optimize for profit and
by ulrikrasmussen 2y ago
Capitalism and free market forces are not a magic bullet that will automatically optimize for your preferred utility function. They will optimize for profit and nothing else. This is why we need regulation to guide the market forces so we don't compromise the common good.
I cannot buy a smartphone which allows me to run my operating system of choice and use my national identity as an app. It just doesn't exist. I can either buy an expensive Apple device which promises to not track me but which is also decidedly a walled garden by design and hence a capitulation; or, I can buy a phone running a commercial Android build which promises to do all it can to track me because that is literally the primary business model of the vendor. The latter option allows me to install another operating system without the built-in tracking, but at the expense of disallowing me to use the phone for what I actually wanted to use it for, and hence it is a disguised walled garden.
Meanwhile, the vast majority of people are not aware of the situation and/or have no interest in running other software. Relying on capitalism to "fix" the issue literally just results in tyranny of the masses, or worse; indifference of the masses which allows tyranny of the tech giants.
- _blk 2y agoThanks for detailing your viewpoint. I very much respect it, yet still disagree. Kindly allow this analogy: if capitalism optimizes for monetary profit alone, communism optimizes for the common good..