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This is a common misunderstanding! Capitalism: ie. the idea that you can spend money to make money, (ie. shareholders) is extremely compatible with monopolies.
by spencerflem 2y ago
This is a common misunderstanding!
Capitalism: ie. the idea that you can spend money to make money, (ie. shareholders) is extremely compatible with monopolies. If you wanted to make an investment and get maximum returns, a monopoly would do it best.
The free market is what's being destroyed.
- rsynnott 2y agoIn practice, this sort of hyper-corrupt crony capitalism is _not great_ for the markets, at least not in the medium to long term (it might provide a temporary sugar rush, but it's going to destroy long-term growth and company formation). Most notably see Russia, of course, but you see it to varying extents in most extremely corrupt countries. Few of them exactly have booming economies. If you filter out oil states, there are virtually no strong economies in countries without at least _decent_ court and regulatory systems.
- spencerflem 2y agoMy point was that it's capitalists that want this, not that its a good choice for them long term.