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It is undemocratic, but it is capitalistic.
by bornfreddy 1y ago
It is undemocratic, but it is capitalistic.
- tossandthrow 1y agoEven Adam Smith would argue that monopolies are bad - the fact that you are deacriminated upon to buy capital is the direct opposite of capitalism.
- hgomersall 1y agoAdam Smith meant free from rentiers (unearned income) when talking about "free markets". The term was appropriated by the neoliberals to mean free from government and ignored the original meaning.
- benreesman 1y agoI don't know why you're getting downvoted. You clearly read Smith and the downvoters clearly didn't. An Inquiry Into the Nature and Causes of The Wealth of Nations is like an anti-rentier pamphlet in most places. Ignore the haters, keep being right about books.