Comment on Jeff Bezos is scared to have an open debate on economics
isles@lemmy.world 1 year agoMaybe free markets are better if everyone started at 0. But in free (unregulated) markets, the prime incentive is to convert public goods (the Commons) into private property, at the expense and loss of society. Our regulations are to force companies to be less evil against people with fewer resources.
Adam Smith, the father of modern capitalism, was very clear that free markets had to be well regulated by definition otherwise they would tend towards monopolies and non productive rent seeking behaviors. Only a well regulated free market can remain stable and competitive in the long run.
The capitalists aren’t even playing by their own playbook anymore they just want all the money and everyone else to die I guess.
Of course they don’t. Free market (how theory imagines it) is not pro capitalism. Competition is counterproductive to the profit motive, which is why large corporations look to kill the competition whenever they can.
anonymous111@lemmy.world 1 year ago
I think we need definitions. Example: the EU has an internal free market for goods. This market is definitely not unregulated.