One of my bedrock beliefs is that capitalists *really* hate capitalism.
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One of my bedrock beliefs is that capitalists *really* hate capitalism. They may name their beloved institutes after the likes of Adam Smith, but they ignore everything Smith had to say about the necessity of competition to keep markets from turning into monopolies:
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@pluralistic
Unless Adam's invisible hand is controlled by an invisible arm called regulations, then the invisible hand has an invisible impact on monopolization. -
@pluralistic
Unless Adam's invisible hand is controlled by an invisible arm called regulations, then the invisible hand has an invisible impact on monopolization.@NMBA @pluralistic It is easiest to hold things using a single bag.
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If you switch to an artisanal brand of cookies made by a local family business, Unilever or P&G will buy that company and issue a press release declaring that they made the acquisition because they know "their customers value choice":
Gerrymandering strips your vote of any impact on political outcomes. Monopoly strips your purchases of any ability to influence economic outcomes.
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@pluralistic for some reason we don't punish "small business owners" who sell out to big multinationals (or to smol, local conglomerates)
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@bencurthoys @pluralistic Market capitalism is a metastable system whose governance structure (capitalism) creates affordances that allow market actors to avoid competition. Some are intentional (patents) others emerge from gaming the rules. https://zirk.us/@MidniteMikeWrites/114808262786519399
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R relay@relay.mycrowd.ca shared this topic
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One of my bedrock beliefs is that capitalists *really* hate capitalism. They may name their beloved institutes after the likes of Adam Smith, but they ignore everything Smith had to say about the necessity of competition to keep markets from turning into monopolies:
--
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
1/
@pluralistic It's always "free
markets for thee but not for me", whether on a level between corporations or between states. -
@pluralistic
Unless Adam's invisible hand is controlled by an invisible arm called regulations, then the invisible hand has an invisible impact on monopolization.@NMBA @pluralistic Markets work when all decisions are made through markets alone. Regulations is how you ensure that.
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The theory of capitalism holds that markets are a kind of distributed computer that aggregates trillions of decisions from billions of market participants in order to optimize production and distribution of goods and services, creating a "Pareto-optimal" world where no one can be made better off without making someone else worse off.
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@pluralistic But markets can exist without allowing the unlimited accumulation, concentration and centralisation of capital. To allow the latter is an explicit choice by lawmakers.
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One of my bedrock beliefs is that capitalists *really* hate capitalism. They may name their beloved institutes after the likes of Adam Smith, but they ignore everything Smith had to say about the necessity of competition to keep markets from turning into monopolies:
--
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
1/
@pluralistic ditto religion. Turn the other cheek'? 'Do Unto Others?
Systems of thought are merely convenient rationale for whatever a robber baron wants to get away with.
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One of my bedrock beliefs is that capitalists *really* hate capitalism. They may name their beloved institutes after the likes of Adam Smith, but they ignore everything Smith had to say about the necessity of competition to keep markets from turning into monopolies:
--
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
1/
@pluralistic I think this is something that, even though it has always been denied by capitalists, has been described by its opponents for a long time, especially Marx:
"Monopoly produces competition, competition
produces monopoly. Monopolists compete among themselves; competi-
tors become monopolists." Marx, poverty of philosophy -
@NMBA @pluralistic Markets work when all decisions are made through markets alone. Regulations is how you ensure that.
@slotos @pluralistic m
Competiton works when regulations ensure a level market to ensure competiton occurs. Monopolies lever unregulated marketsand capture governments to eliminate their competition, eg the tech bros.
