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> Anti-trust is crucial to make the capitalist economy work prperly No it isn't. If you want your capitalism to be liberal, you need antitrust, true. If you on
by orwin 1y ago
> Anti-trust is crucial to make the capitalist economy work prperly
No it isn't. If you want your capitalism to be liberal, you need antitrust, true. If you only want capitalism, and don't really care about the 'liberty' part, you can check the mercantile capitalism of old. It worked quite well for people with power.
- Ygg2 1y ago> If you only want capitalism Yeah, I prefer not to die in a coal mine at ripe age of 14, so a coal baron can increase their wealth by 0.001%.
- worik 1y agoTotally Capitalism is defensible as an economic system It is indefensible as a social system. It must be subordinate to the social arrangements
- Ygg2 1y agoI agree. The endgame for capitalism is a mega-corp roleplaying as state. You get food, housing, and so on, but you may never leave it. You will live however long the CEOs need you to live and not a second more.
- echelon 1y agoCapitalism is a great model that results in evolutionary pressures for the efficient development of goods and services. One failure mode of unchecked and unregulated capitalism is the establishment of monopolies that can starve oxygen from the rest of the ecosystem. In order to have maximally efficient and broadly beneficial capitalism, you need strong anti-trust mechanisms to reoxygenate the environment for new competition. Regular enforcement also means that labor and investment capital reap the most rewards instead of calcified, legacy incumbents. Companies need to be constantly fighting to survive. If they're sitting comfortable and growing without controls, something went wrong and the rest of the fitness landscape is being distorted by an invasive species. Antitrust Regulation is incredibly pro-market and pro-competition.
- orwin 1y agoMercantile capitalism was regulated and under the power of colonizer states though. The East India Company had to follow the British Crown orders, as were the different transatlantic companies. The competition was mostly between nation-state rather than between companies. Actually, China started consolidating its industry and "Capitalism with chineese characteristic" look a lot like modern mercantile capitalism.
- worik 1y agoYes, that is correct If you want capitalism to be the best it can be you need to brake up monopolies, continuously You also need to manage externalities.