One of the problems with judging capitalism in a place like America is that we take so many of the good parts of it for granted because we don’t even realize what it’s doing for us.
Capitalism is a significantly flawed system that happens to be, by far, the best system for benefitting the human condition.
The current problems with it, and they are not new, and Rand largely ignored it, is the lack of competition from unregulated corporate consolidation. Economies of scale supports lower pricing until markets are saturated and too few players take control... and then pricing rises.
The easiest way for any business to increase profit is to raise their prices. Before COVID corporations were afraid to show their monopoly cards. The actions of government gave them the cover they needed... and they went crazy. They went so crazy that they have even priced customers away. Look at Las Vegas.
We need massive antitrust actions and small business support to get capitalism back to healthy.
I'm a big believer in the idea that strong concentrations of power, whether they be in government or in business, are bad for the American people. That's why I always root for government to get cheaper and smaller and for monopolies to be broken up.
You are correct, sir, and so is John in his reply. My home state is "purple," yet the media always takes the left's side in every news story, and it's always the same. "Gee, if we could just get those stupid Republicans to get on board and fund this new government program, why, everyone would be so much better off! You've got to wonder, what is wrong with those selfish, greedy bastards?" I despair of ever seeing the government shrink, because who doesn't like printing a bunch of monopoly money, then blaming inflation and reduced buying power on those damned, rich, (and, of course, racist) conservatives?
Thanks for this John.
Capitalism is a significantly flawed system that happens to be, by far, the best system for benefitting the human condition.
The current problems with it, and they are not new, and Rand largely ignored it, is the lack of competition from unregulated corporate consolidation. Economies of scale supports lower pricing until markets are saturated and too few players take control... and then pricing rises.
The easiest way for any business to increase profit is to raise their prices. Before COVID corporations were afraid to show their monopoly cards. The actions of government gave them the cover they needed... and they went crazy. They went so crazy that they have even priced customers away. Look at Las Vegas.
We need massive antitrust actions and small business support to get capitalism back to healthy.
I'm a big believer in the idea that strong concentrations of power, whether they be in government or in business, are bad for the American people. That's why I always root for government to get cheaper and smaller and for monopolies to be broken up.
You are correct, sir, and so is John in his reply. My home state is "purple," yet the media always takes the left's side in every news story, and it's always the same. "Gee, if we could just get those stupid Republicans to get on board and fund this new government program, why, everyone would be so much better off! You've got to wonder, what is wrong with those selfish, greedy bastards?" I despair of ever seeing the government shrink, because who doesn't like printing a bunch of monopoly money, then blaming inflation and reduced buying power on those damned, rich, (and, of course, racist) conservatives?