Donald Trump’s new security directive labels anti-capitalist beliefs as a predictor of political violence. The irony: left-wing structural analysis actually pushes people away from lone-wolf attacks and toward mass organizing for change.
Donald Trump’s new security directive labels anti-capitalist beliefs as a predictor of political violence. The irony: left-wing structural analysis actually pushes people away from lone-wolf attacks and toward mass organizing for change.
There’s a fundamental contradiction in the definition of a free market. To some, it means a competitive market. To some, it means an unregulated market. But there can be no competitive market without regulation: without regulation, it almost immediately degenerates into oligopoly and anticompetitive market-rigging among the players. Businesses hate nothing more than they hate competition.
That great cheerleader of capitalism Adam Smith (the original guy, not the twat using his name now) knew that.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”
That’s from his classic work, The Wealth of Nations.
Exactly, if the demand isn’t/can’t be flexible (eg healthcare, housing) then no matter the amount of competition on the supply side will balance things out in an unregulated market in the long term.
Everyone with the freedom of choice is on the supply side, and everyone on that side benefits from higher prices.
And there is no other metric of success other than profit.
(Nobody has the incentive to undercut the competition unless for later monopoly reasons. But the same manoeuvre can be achieved cheaper via mergers without the loss of revenue due to lower margins.)
That’s why healthcare was a problem (with a constantly giant inflation) in the USA even before all the consolidations.