Comment on U.S. takes 10% stake in Intel as Trump flexes more power over big business

MrSmith@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

• themurphy@lemmy.ml ⁨3⁩ ⁨weeks⁩ ago

  Since Wall Street, never really was.

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  • Hylactor@sopuli.xyz ⁨3⁩ ⁨weeks⁩ ago

    You’re more right than you may know.

    An actual city wall existed on the street from 1653 to 1699. During the 18th century, the location served as a slave market and securities trading site, and from 1703 onward

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    • MonkderVierte@lemmy.zip ⁨3⁩ ⁨weeks⁩ ago

      No cliffhanger please.

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  • Zorque@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    Functionally, there’s no such thing. In a system that gives the most power to the company that makes the most money, that company will seek to maximize its profits. Part of maximizing profits is eliminating competition. So in a “free” market, the most successful will subvert the freedom of their competition thus eliminating the freedom in the market.

    Self-correction in a market is an illusion crafted people either desperate to salvage a broken system, or those who seek to exploit them.

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    • vacuumflower@lemmy.sdf.org ⁨3⁩ ⁨weeks⁩ ago

      That’s why free market is how we call a market where anti-monopoly laws exist, work and are enforced in full.

      While what you are talking about isn’t called market, it’s called jungle.

      Self-correction in a market is an illusion crafted people either desperate to salvage a broken system, or those who seek to exploit them.

      Self-correction exists when anti-monopoly laws exist, work and are enforced in full. It doesn’t exist when they don’t, because self-correction relies upon competition providing a choice and the consumer using it.

      Also trade unions and customer associations are part of what we call free market. Both are voluntary, in public interest, and work when they exist. No coercion involved, thus no violation of market laws.

      Also on large enough scale of the market and small enough scale of all businesses it may sometimes seem, that anti-monopoly laws are not needed. Especially since when anti-monopoly laws work, the market appears such.

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