The problem with capitalism is the high prices needed to pay for shareholder profits and executive bonuses. The key is to adopt some capitalistic programs but not so much that prices increase while quality of goods and services decrease in perpetuity.
Oh, and also end inherited wealth, because it’s antithetical to an egalitarian society.
No, competition prevents high prices. If a company increase prices to increase profits but a competitor doesn’t, it will result in a loss of business. Competition increases quality because a company selling poor quality products will lose business to one providing good quality.
What’s wrong with giving wealth to one’s children?
In competitive markets that’s how it worked. What we have now are mega corporations who build monopolies by buying out the competition or sending them broke by brute force. Then once the corporation has a stranglehold they are free to cheapen their products and services and/or jack up prices knowing they have no competition. That’s why formerly quality brands are constantly becoming poor quality trash.
Inherited wealth leads to spoiled, privileged idiots who have grown up thinking they earned their lives through talent and hard work, when in reality they’ve just been failing upwards while the family money and connections have been covering their asses.
In late stage capitalism, those idiots have amassed enough wealth and power to make them a genuine threat to all of us. If you can’t see that happening already then I have to assume you’re one of the many people who are just beyond help.
Of course, in a free market system, companies strive to beat the competition, but government is required to ensure competition is fair and no monopoly is established.
The problem with capitalism is the high prices needed to pay for shareholder profits and executive bonuses. The key is to adopt some capitalistic programs but not so much that prices increase while quality of goods and services decrease in perpetuity.
Oh, and also end inherited wealth, because it’s antithetical to an egalitarian society.
No, competition prevents high prices. If a company increase prices to increase profits but a competitor doesn’t, it will result in a loss of business. Competition increases quality because a company selling poor quality products will lose business to one providing good quality.
What’s wrong with giving wealth to one’s children?
In competitive markets that’s how it worked. What we have now are mega corporations who build monopolies by buying out the competition or sending them broke by brute force. Then once the corporation has a stranglehold they are free to cheapen their products and services and/or jack up prices knowing they have no competition. That’s why formerly quality brands are constantly becoming poor quality trash.
Inherited wealth leads to spoiled, privileged idiots who have grown up thinking they earned their lives through talent and hard work, when in reality they’ve just been failing upwards while the family money and connections have been covering their asses.
In late stage capitalism, those idiots have amassed enough wealth and power to make them a genuine threat to all of us. If you can’t see that happening already then I have to assume you’re one of the many people who are just beyond help.
Monopolies are not the result of laissez-faire but the government. The government has the responsibility to stop monopolies.
Inherited wealth could lead to spoiled children, but parents should certainly have the right to give their possessions to their children.
Monopolies are the natural product of capitalism with inadequate regulation. Laissez faire (hands off) is a lack of regulation.
If government does nothing to prevent a negative outcome that it has a duty to stop, it is complicit.
Of course, in a free market system, companies strive to beat the competition, but government is required to ensure competition is fair and no monopoly is established.
So what makes that market free? Or is that just BS marketing?
It means companies compete with each other rather than being controlled by the government.