I appreciate the thoughtful and intelligent response.
I will not move the goalposts and change 1 to some arbitrary small number. I will instead ask how do we prevent capitalism from concentrating wealth so much that, like a black hole, it overcomes degeneracy pressure and collapses, changing its own rules to benefit those at the very top and prevent the possibility of actual competition? This is the bastardization that we have today in the USA, and to me, this seems like the inevitable conclusion. It tends to concentrate wealth and power and to not be capitalism anymore. This extreme consolidation eventually warps its own mechanisms, becoming not very different from top-down, planned economy – just a badly-designed, ad-hoc, self-serving one.
The reality is that economic systems aren’t black and white. I don’t think we have true unregulated capitalism anywhere, and you admit there are areas (like healthcare) where capitalism is truly stupid or easily reaches critical mass to prevent competition (like oil).
I appreciate the thoughtful and intelligent response.
I will not move the goalposts and change 1 to some arbitrary small number. I will instead ask how do we prevent capitalism from concentrating wealth so much that, like a black hole, it overcomes degeneracy pressure and collapses, changing its own rules to benefit those at the very top and prevent the possibility of actual competition? This is the bastardization that we have today in the USA, and to me, this seems like the inevitable conclusion. It tends to concentrate wealth and power and to not be capitalism anymore. This extreme consolidation eventually warps its own mechanisms, becoming not very different from top-down, planned economy – just a badly-designed, ad-hoc, self-serving one.
The reality is that economic systems aren’t black and white. I don’t think we have true unregulated capitalism anywhere, and you admit there are areas (like healthcare) where capitalism is truly stupid or easily reaches critical mass to prevent competition (like oil).