#capitalistcapture — Public Fediverse posts

I'd had this thought a day or so back, but it comes to mind again reading Allen's quote.

The notion of regulatory capture is well established these days.

It's sometimes acknowledged that it's a subset of the principle-agent problem.

But there seems to be no equivalent term for what I'd call capitalist capture or market capture, though @pluralistic's notion of #Enshittification captures much of the spirit: a good or service which is coöpted in the interests of private profit over public good, to a degree that it is a net disservice to both downstream customers and upstream providers.

The corruptions of private interest given the power to serve that interest excessively are manifold.

#RegulatoryCapture #corruption #MarketCature #CapitalistCapture #PrivateInterest