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Maybe markets that optimize for capital growth are just a bad way to allocate resources? Why did we decide that return on capital investment is the metric to o

• baq 11mo ago
  capitalism is kinda-sorta weaponized greed, but in a way that tries to promote competition and thus create actual value. IMHO blaming regulators for not nudging capital in the politically desirable way is appropriate: either they shouldn't be regulating because they don't know how, or they're regulating according to a hidden policy instead of whatever they say. (cue 'why not both'.)
  • palmotea 11mo ago
    > capitalism is kinda-sorta weaponized greed, but in a way that tries to promote competition and thus create actual value. In practice, capitalism itself doesn't really promote competition, but rather competition is an externally-enforced situation required to keep capitalism from going off the rails. IMHO, capitalism naturally evolves towards monopoly (otherwise antitrust laws would be unnecessary).
  • dragonwriter 11mo ago
    > capitalism is kinda-sorta weaponized greed There is no need for hedging language, it is entirely weaponized greed. > but in a way that tries to promote competition and thus create actual value. No, its in a way which tries to remove constraints from the power of the capitalist class, and full enable their dominion over society -- that's what drove it and how it evolved from prior systems. The assumed existence of competition (along with other assumptions) making it optimal was a much later, after the fact attempt at rationalizing it in response to criticism, and actual attempts to promote competition were later yet reforms limiting capitalism, not part of its essence.