Max Leibman on Nostr: npub19rvgr…pfak8 Not just true competition, though; unfettered competition ...
npub19rvgr6sdxmwcn0e6q5gjstackhpm5zxds2r46f3ylgxc70glts6qfpfak8 (npub19rv…fak8) Not just true competition, though; unfettered competition ultimately degrades to winner-take-all markets. As I mentioned in another toot tonight, Adam Smith’s idea of the invisible hand didn’t operate in a moral vacuum.
Totally agree on the megacorps issue; this is the problem with debates about “capitalism”—we act like competition, markets, free enterprise, etc., are capitalism, and can only exist under capitalism, but that’s not so. Capitalism just means capital is in charge.
Totally agree on the megacorps issue; this is the problem with debates about “capitalism”—we act like competition, markets, free enterprise, etc., are capitalism, and can only exist under capitalism, but that’s not so. Capitalism just means capital is in charge.