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Edit: ok, I should have worded better. What if we stopped allowing corporate lobbying through donations to elected officials?
I understand there would be loopholes to close, but isn't this the obvious source of government corruption?
Earlier quoted context omitted.
And what is your solution? You can say something is flawed, but compared to what, and how would you improve it?
It's ok to express frustration with something without having a solution to it.
Not a shocker that corruption ruins things. I guess then the question is how you can design a broadly distributed system that removes the incentives for corruption and minimizes its impact. My guess is that such a system won't be found in capitalism
Capitalism quite clearly requires strong regulation. At least, any sort of positive capitalism that doesn't immediately succumb to monopolies, cartels and corruption. The problem is that the loudest voices arguing for capitalism, also tend to argue against regulation, accountability, and that sort of thing.
- Regulations are often used as a tool of corruption and cronyism, e.g. regulation of housing construction entrenching landowner power.
- Regulations can block legitimate progress, e.g. the private antigen tests that were blocked throughout 2020.
- Regulations create complexity which acts as both a barrier to entry which creates monopolies, and as a hidden tax.
- Regulations are often theatre.
- Bad regulations are sticky; they don't sunset.
That's why I favor less regulations overall. But I don't favor no regulations. I still want regulations (or just "laws") that stop pollution, deceptive marketing, and so on.
Cronyism is the logical conclusion of capitalism.
Earlier quoted context omitted.
It's more complex and doesn't always go like that. If X' is a superior product objectively, then company B can find investors willing to back them and take on company A. Company A could itself be an investor in company B
Yes way more complex as a recent article outlined regarding a very relevant story. "$35BN Match Group file multiple lawsuits against muzmatch following repeated failed acquisition offers" - https://news.ycombinator.com/item?id=29860034
Cronyism is the logical conclusion of capitalism.
> Cronyism can plague any economic system, Klein explained, across the spectrum of free-market economies to governmentally controlled environments. Try reading the article?
Two things can be bad.
Personally, I think all governments of all persuasions have proved their ability to line their own pockets, sometimes subtly and sometimes with bare-faced shame.
Many people think the go-to is more laws to try and dictate what is and isn't acceptable but that also doesn't seem to work, just creates more jobs and more money for the lawyers.
I think the old adage, "don't curse the darkness, light a candle" is the best back-stop. If anyone knows a better way, do it and show how it is better, then others will copy it.
Why not blame both?
Ideas don't have people, people have ideas. Every human action is carried out by a person. No action has ever been carried out by an idea.
Capitalism describes Capitalism doesn't prescribe We should praise Capitalism for describing humanity better than other *ism
Capitalism is the ultimate democracy, everyone votes with their labour and their purchases. The more regulation, the less power the individual has. Of course, some regulation is necessary to avoid abuses. Discussions should be on the level of what rules allow society to reach a better result, not just try to artificially fix problems because it leads to even bigger problems.
Regulations typically limit the power of the most powerful in society, whose power in turn restricts the rest of us. Thus, regulation frequently increases the freedom of most citizens.
Consider a business owner who treats his workers poorly. The workers could find new employers, but odds are they'd be treated just as poorly there, because these labour conditions are not atypical. Then a bill is passed which forces employers to improve labour conditions. Less power for elites means workers' freedom from having power exerted upon them increases.