#freemarket — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #freemarket, aggregated by home.social.
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As night follows day, repression follows Thatcherism
The naïve ones believe that the economic system that is causing the trouble will also miraculously save us all. The cynical ones are just looking at their balance sheets.
https://freedomnews.org.uk/2024/04/16/as-night-follows-day-repression-follows-thatcherism/
#FreeMarket #KeirStarmer #neoliberalism #Thatcher #ToryParty -
Hopefully in the future we will all see clearly if it does die down, that #freespeechabsolutist just means #fascist, or fascist enablers. Karl Popper tackled this issues decades ago but few in the US was aware of his existence so #freespeech absolutism sounded like a good thing because the #freemarket of ideas in reality works just as well as the economic free market, If you are on top you can break the rules to ensure both are rigged and not free. -
I've been listening to the #freakonomics episode on #adamSmith. It reminds me that the power and benefits of #capitalism aren't because it ensures "free markets". The benefits come from intense competition, which makes the vendors better and the products cheaper. Pretty much the entire success of the modern world is built on this #competition (+ #scientificMethod).
Unfortunately, the natural course of a free market, driven by well-known and well-taught business strategies, is to avoid competition, by using customer lock-in and other anti-competitive moves until you get to effective #monopoly power. Once you have monopoly power, you can go into harvest mode, raising prices and spending less, mostly on protecting the "moats" around your monopoly.
What we really need is not #freeMarket, it's #freeCompetition.
So when you hear a public policy debate or a business tycoon going on about "free markets" you should ask yourself -- would this make competition easier or harder? Would it give consumers and customers more choice or less choice?
This is one of the main reasons I have devoted most of my career to running or helping #startUps. A new underdog entrant is the essence of competition and expanding choices. Unfortunately, any startup that is successful enough to become dominant in its industry, becomes anti-competitive and can become a drag on society's progress.
Whew, I didn't expect that to be so long! I better stop now. Please let me know what you think.
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@atyh
That's apparently why antitrust/#monopoly caveats were (quickly?) added to the definition on #capitalism.Western capitalism has failed really to do anything on #antitrust, the first time it did was with M$haft but we now know that was simply to introduce a second #astroturf to provide a veneer of #competition.
Amzn, Ggle and Cflare are especially heinous beneficiaries of the #moneyPrinter, and/or ever lower #interestRates.
Definately not a "#freeMarket".
See also #cantillonEffect.