When your government makes backdoor deals with the corporations to regulate the economy in a way that hurts the competition, you have reached the state of corrupted capitalism.
As economies and societies scale up, they become increasingly prone to centralization, manipulation, and corruption. Our rights are being stripped by a pact between government and corporations that have both become too powerful
They're not. There's a difference between cronyism and the free market.
What we're witnessing is something that claims to be capitalistic but it's oligarchical. The corporate world and government are tentatively separated by a revolving door and both are utilizing the resources of the other to squelch the people they don't like who threaten to upend the hegemony.
Free markets can--and do--work, but they unfortunately need light touch regulation from the government to foster an environment of competition. The way this should have ended was, unfortunately, for the government to impose heavy fines on financial institutions for prohibiting economic participation for no other reason than wrongthink.
I don't like unnecessary regulation, but in this case it's well warranted. This is where I feel libertarianism gets it wrong. Complete absence of regulation is as bad as excessive regulatory imposition. This is likewise the same as what our founders believed.
Government must exist solely to protect the rights of the individual. When government no longer performs this duty, it is an authoritarian power that seeks to strip individual authority and self-rule.
The ability to choose who you do business with is part of capitalism. They feel that doing business with them will hurt them financially via bad PR, so it is in fact capitalism.
How so? Because, we ignored the corruption and bias in Big Tech and Big Banks for years, actively working to re-elect those who had ties to all of them?
I believe it is our own Ignorance that has allowed this to happen.
Except Capitalism can and will usually work out. Communism NEVER works out.
When your government makes backdoor deals with the corporations to regulate the economy in a way that hurts the competition, you have reached the state of corrupted capitalism.
As economies and societies scale up, they become increasingly prone to centralization, manipulation, and corruption. Our rights are being stripped by a pact between government and corporations that have both become too powerful
It's actively not working out.
You think what we have now is capitalism?
Crony Capitalism maybe, but that's like saying Social Justice is actually Justice.
We had capitalism before what we have now, yes?
How did that work out?
What we have now isn't the fault of capitalism, it's the fault of corruption. No economic system works if the rules aren't applied evenly.
NOOOOOOOO THAT'S NOT REAAAAAL CAPITALISM REAL CAPITALISM WORKS
Capitalism collapses when faced with the real world, same as communism.
All economic systems collapse when the insiders aren't accountable. I seem to recall discussions about the "moral hazard" of bailing out the banks.
If nothing works what is the solution? You aren’t making much sense.
All I’m seeing is a troll.
They're not. There's a difference between cronyism and the free market.
What we're witnessing is something that claims to be capitalistic but it's oligarchical. The corporate world and government are tentatively separated by a revolving door and both are utilizing the resources of the other to squelch the people they don't like who threaten to upend the hegemony.
Free markets can--and do--work, but they unfortunately need light touch regulation from the government to foster an environment of competition. The way this should have ended was, unfortunately, for the government to impose heavy fines on financial institutions for prohibiting economic participation for no other reason than wrongthink.
I don't like unnecessary regulation, but in this case it's well warranted. This is where I feel libertarianism gets it wrong. Complete absence of regulation is as bad as excessive regulatory imposition. This is likewise the same as what our founders believed.
Government must exist solely to protect the rights of the individual. When government no longer performs this duty, it is an authoritarian power that seeks to strip individual authority and self-rule.
The ability to choose who you do business with is part of capitalism. They feel that doing business with them will hurt them financially via bad PR, so it is in fact capitalism.
banks are an arm of the state via the laws and regulations created for their benefit with a single organization left in charge of the dollar
I wouldn't call that a free market
Banks are independently deciding associating with this company would be bad for their business. Prove they're colluding as one entity.
banks are no more independent than utility companies which also benefit from extensive monopoly protections, codified in law and/or by regulation
the state has made them untouchable via their growth and liability shields
How so? Because, we ignored the corruption and bias in Big Tech and Big Banks for years, actively working to re-elect those who had ties to all of them?
I believe it is our own Ignorance that has allowed this to happen.