I agree, through the lens of unfetted capitalism, but, with adequate regulation, I don’t think this is a necessary outcome. Although, perhaps “unfetted capitalism” isn’t capitalism?
Perhaps it’s time to stop using appeals to purity and acknowledge that this is how capitalism functions in practice everywhere it’s been tried. Entire books have been written on the subject of why capital concentration is a necessary product of capitalism, and how capitalists use their wealth in shape society in their own interest. The government ultimately represents the class that holds power, and in a capitalist society it happens to be the capital owning class. That’s why even when regulations are enacted, they’re always dismantled in the end.
Capitalism can’t last forever due to issues like the Tendency for the Rate of Profit to Fall, and tendency towards monopolization over time. Regulation doesn’t stop this.
I agree, through the lens of unfetted capitalism, but, with adequate regulation, I don’t think this is a necessary outcome. Although, perhaps “unfetted capitalism” isn’t capitalism?
Why would capitalists, who run the system under capitalism, choose to regulate themselves?
Perhaps it’s time to stop using appeals to purity and acknowledge that this is how capitalism functions in practice everywhere it’s been tried. Entire books have been written on the subject of why capital concentration is a necessary product of capitalism, and how capitalists use their wealth in shape society in their own interest. The government ultimately represents the class that holds power, and in a capitalist society it happens to be the capital owning class. That’s why even when regulations are enacted, they’re always dismantled in the end.
Capitalism can’t last forever due to issues like the Tendency for the Rate of Profit to Fall, and tendency towards monopolization over time. Regulation doesn’t stop this.