this post was submitted on 07 Feb 2025
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Exactly, capitalism ends up being just a handful of monopolies owned by the oligarchs as opposed to state owned companies owned by the public.
@yogthos
At best you can say if you have a system of profits and markets that that system is exquisitely fragile and soon becomes something entirely different.
These simple observations are why I relentlessly mock mainstream economics, particularly neoliberal ideas.
Uncle Milty Mr. free market fundamentalist himself, was paid to say things that like monopoly are just fine,
..
The part a lot of people don't seem to understand is that capitalism is a dynamic system that evolves over time. My favorite illustration of this is the game of monopoly, everyone one starts with the exact same opportunity, and at the end all the capital will be in the hands of a single player through the mechanics of the game. That's precisely what we see happening with capitalism in real life. Competition, which is the engine of the system, ensures that some companies win and grow, while others lose. As companies become bigger, they gain brand recognition, leverage economies of scale, and so on, making it unprofitable to try and compete with them.
@yogthos
The competition itself is a factor in economic instability and crisis, and it is in crisis that the ultrarich and the larger companies gain the most advantage because often by no fault of their own, the smaller or the unlucky run into a Cash flow problem and must sell their business for pennies on the dollar.
Competition also means over capacity.
This is why the ultrarich just love, economic crisis; they will make a killing off of other people’s economic distress.
precisely
@yogthos
If you don’t mind my asking, how is Lenny doing these days? I sort of sampled I kbin, when Reddit was busy lady pissing off everybody under the sun, but if some sort of retreated back to mastodon here which is easy.
Lemmy's pretty lively. I definitely find it's a lot better than Mastodon for discussion since it has threads. I tend to use Mastodon as a news feed, but Lemmy as a place to talk to people.
@yogthos
Yeah, I may need to stick my nose back in to that side of things because I view mastodon is sort of a stream of thought forum.