Comment by ako

Comment by ako a day ago

True capitalism can never exist due to lack of transparency, urgency, monopolies, etc. The best we can have is government controlled capitalism.

godelski 3 hours ago

  > True capitalism can never exist

To nitpick, you mean "unfettered capitalism". As in no government involvement. Which has the identical problem to unfettered anarchy: coalitions form, creating governments. Since many markets have network effects (e.g. bulk purchasing gives lower price per unit) a monopoly tends to be one of the possible steady state solutions. But any monopoly can choose to become a governor of their market, being able to impose regulation even through means other than government (e.g. pull resources, poach, lawsuits, or even decide to operate at a loss until the competition is dead (i.e. "Silicon Valley Strategy").

I just mention this because it's not a problem exactly limited to capitalism. It's a problem that exists in many forms of government and economics (like socialism). It just relies on asymmetric power

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TeMPOraL 9 hours ago

Yup. It's quite obvious that such unfettered, true capitalism quickly decays to the good ol' rule of warlords.

There should be a name for this kind of fallacy, where you look at a snapshot of a dynamic system (or worse, at initial conditions), and reason from them as if they were fixed - where even mentally simulating that system a few time steps into the future makes immediately apparent that the conditions mutate and results are vastly different than expected.

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