Cato institute capitalism by nature tends toward maximum inequality
Comment on There's Nothing Green About Socialism - HumanProgress
traveler01@lemmy.world 1 year agoBut of course capitalism breed oligarchs and oligarchy and thus markets were deformed to benefit the oligarchs (and socialise risks while privatising profits).
In my opinion when you start having oligarchs and this amount of wealth inequality, it’s only a symptom that the state is failing to do what was created to do, at-least in theory.
The state should be only a regulator, more like a referee in the market. Currently everywhere in western democracies the state is failing to do it. We have the lower income people getting taxed to hell, either directly or by proxy while the uber-rich are influencing the state regulation directly.
psud@lemmy.world 1 year ago
what_is_a_name@lemmy.world 1 year ago
Exactly. It’s Cato directly that it arguing for unregulated market in an oligarchy. So OP needs to be clear who wrote the source.
what_is_a_name@lemmy.world 1 year ago
Do not take this as a personal attack but your perspective is naive. All around the world capitalists argue for libertarianism or other forms of state stepping back from regulating oligarchy. It’s a feature of capitalism to aim for oligarchy. At least in practice.
Just like 20th century Soviet/Chinese/Cuban communism did not prevent oligarchs. Neither does the current crop of capitalism. They both - in practice- created easy path to oligarchy.
traveler01@lemmy.world 1 year ago
I understand your point, that’s why I consider that the state should be an independent regulator. What’s happening right now is that due to corruption the state is failing to do it so.
psud@lemmy.world 1 year ago
I’m changing the user note I added to you from “right wing nut” to “confused socialist”