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Technically state-capitalism since it's an industry created as a result of congress regulating commerce with aggressive IP laws (aka rent-seeking)
by dmix 7mo ago
Technically state-capitalism since it's an industry created as a result of congress regulating commerce with aggressive IP laws (aka rent-seeking)
- brookst 7mo agoWhere can I see an example of any other kind of capitalism?
- dmix 7mo agoCapitalism is always underpinned by a strong legal system which is why most criticism is about constraining growth in legislation, not killing off interference outright. Copyright law is a good example of a law that made sense in it's original form but turned into a monster with scope-creep. Although, if we're being realpolitik, every time government interference grows in scope and corrupts markets, capitalism still gets blamed and people call for more government to fix it (see: housing). So the capitalism vs state capitalism distinction isn't very meaningful in practice.