It was regulated. They captured the regulators. That’s the whole point. It could never have gone any other way. Capitalism breeds greed. In everyone. And when a greedy person sees another person doing something highly immoral and abusive to their customers, they don’t think, “my God! We have to stop it!”
They think, “that’s a good idea. How can I get MINE?”
lmmarsano@lemmynsfw.com 5 days ago
That’s a criticism of the political system, not the economic one. Government deficiencies not intrinsic to an economic system fail as criticism of the economic system.
HasturInYellow@lemmy.world 5 days ago
Explain how to prevent capital from interbreeding with regulation. Tell me how a government could definitely prevent that.
lmmarsano@lemmynsfw.com 4 days ago
I don’t need to. You’re criticizing government & pinning the blame elsewhere. Integrity to identify problems accurately costs nothing & frees us from misleading confusion.
Your criticism suggests we should focus on devising political systems less susceptible to corruption & regulatory deficiencies. There are various areas of scholarship & research[^research] that try to seriously answer these questions, but they rarely come up in these dumbass online discussions: those might lead somewhere fruitful.
[^research]: such as political economy & public-choice
HasturInYellow@lemmy.world 4 days ago
I am constantly bewildered by you people who act like these things are separate, unrelated ideas.
What do you fucking mean I’m criticizing government and not capitalism? Is regulation of the economy unrelated to the economic system? Does that economic system not impact the effectiveness of various methods of regulation? Why do you feel you can just sidestep questions and claim it’s unrelated?