Also: capitalism may work like that in theory, but it’s never been fully implemented in practice. Every so-called “capitalist” economy has the rich putting their thumb on the scale to make markets less competitive in their favor.
That’s where democracy and anti-trust laws come into play to tip the scale the other direction. Many European Nations have done a much better job at this than nations with lower democracy index scores such as China, Russia, and the USA.
I suppose that’s part of the point. Once the guardrails go up, it’s no longer pure capitalism. If the government doesn’t get involved to mitigate the consolidation of wealth by individuals and monopolies, then capitalism spirals into plutocracy and competition becomes impossible
How the fuck should I know what you think?
That’s where democracy and anti-trust laws come into play to tip the scale the other direction. Many European Nations have done a much better job at this than nations with lower democracy index scores such as China, Russia, and the USA.
I suppose that’s part of the point. Once the guardrails go up, it’s no longer pure capitalism. If the government doesn’t get involved to mitigate the consolidation of wealth by individuals and monopolies, then capitalism spirals into plutocracy and competition becomes impossible
Then capitalism doesn’t exist and they’re all ranting about imaginary societies they disagree with. Wow. Really puts things into perspective.