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> deficits aren't the root of all evil I didn't say it was. I said it was the root of inflation. > robber barons built their empires all the same Kerosene pr
by WalterBright 2mo ago
> deficits aren't the root of all evil
I didn't say it was. I said it was the root of inflation.
> robber barons built their empires all the same
Kerosene prices dropped 70% while Standard Oil prospered. Rockefeller was benefiting people, not robbing them.
- smallmancontrov 2mo agoLouis Brandeis would like a word. In particular: no, the fact that tech advances and economies of scale dropped oil prices at the same time Rockefeller was building his monopoly does not make that monopoly harmless or good or justify it into perpetuity. More importantly, after Ronald Reagan and Robert Bork brought us back to robber-baron era antitrust policy, we've seen robber-baron level corporate consolidation and corporate profits. We've exceeded them in most regards, in fact. It has been terrible for consumers and excellent for shareholders.
- WalterBright 2mo agoSo, dropping kerosene prices by 70% due to tech advances and economies of scale was terrible for consumers? Do you have any evidence that corporate profit margins have increased?
- smallmancontrov 2mo ago[dead]