Capitalism is not to blame. It's also irrational to hear politicians misdiagnose and enact "regulations" in feeble attempts to "control" the free-market.
An explanation here.
"...Only in this way, they believe, can war and social disharmony in the world be
eradicated forever -- and only then will the "economic power" of corporations be
stifled.
The Left's fear seems excessive or
misplaced. Why do I say that? Neither corporations nor any other business in the
market can actually force (use violence on) people to make us deal with them,
buy from them, or work for them. It's all by voluntary choice and consensual
contract. Whatever their faults, businesses -- even big corporations -- have to
rely on persuasion -- advertising, marketing, attractive alternative
pricing, new products, fancy packaging, etc, not
coercion.
As long as a businessman confines his
behavior to purely market means (non-violent persuasion), no one is
forced at the point of a gun to deal with him. Any coercive power a corporation
may have comes from its association with or privileges from . . . . ta-da! . . .
interventionist government (political statism)!"
Well, partly agree. We don't need more government, but part of the protest against Wall Street has been precisely (even when the protesters weren't conscious of it) due to the fact that big corporation are generally not free market entities. Remember TARP, the bailouts of the banks and later, General Motors? There are so many state granted privileges (including intellectual property law and copyright) that the free market in modern capitalism is a fiction.
ReplyDeleteNo argument here about what you say. However, OSW asks for government to "fix" this - which to me, is a laughable joke.
ReplyDelete