this post was submitted on 05 Oct 2024
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About defending capitalism (and not billionaires - who more often than not abuse this system). Some of us lived in other systems. And we understand any other system is way way way way worse.
There are however a lot of problems with capitalism and should be held on a very short leash. Or else monopoly happens. The most effective actions to keep capitalism at bay: strong anti-trust laws, strong worker protection (this includes a lot of stuff), wealth tax.
And be aware there are many flavours of calitalism. Most commonly people in USA are the most extreme where you have really "long leash". And people see such capitalism as failing and want to replace whole system.
Capitalism eats the leash, you can't avoid this.
This is simply not true. And whole EU is doing this more or less effectively. But your government has to be very very careful since this sure can happen.
In recent years we have seen degradation of this leash. But EU commission started keeping up with global monopolies.
I believe also in USA they are making some antitrust changes after a few decades of sleeping.
Proving me correct.
Read all my statements again. And apply strict mathematic logic.
Few years of degradation of antitrust laws and some effective reforms in this year alone does not in any way prove your point.
It absolutely does. Follow the trends and the mechanisms.