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Surely a component of late stage capitalism is the accumulation of wealth leading to anti-competitive practices, in this case resulting in degradation of qualit
by lurkingllama 1y ago
Surely a component of late stage capitalism is the accumulation of wealth leading to anti-competitive practices, in this case resulting in degradation of quality of service. Health care in the US isn’t a competitive business therefore it’s rife for anti-consumer, profit-maximizing change.
- 0xbadcafebee 1y agoBut you can have all those things without late-stage capitalism - and private equity predates late-stage capitalism. So saying "it's because of late-stage capitalism" is like saying "it's because of democracy". The private equity is happening within a democracy and late-stage capitalist system, but these are correlations, not causations.
- lurkingllama 1y agoAh I see your point