Predatory capitalism 101
Discussion
Such is the transition from industrial capitalism appreciated by classical economists, to financial capitalism as designed by neoliberal economists within the Chicago School
absolutely!
And unfortunately, many of the economists most appreciated by this community, are those very ones that advocated for the neoliberal agenda, masked by rhetoric about free markets and minimizing government oversight. These things sound good, until Adam Smith reminds us that a free market does not mean freedom from oversight, but means that governments should act in a way as to prevent monopolies and legal manipulation by large interests, so that small people can compete fairly. The fair playing field that Satoshi gave us would have appealed to Smith greatly
the nature of capitalism is that small businesse compete against eachother. competition means someone wins and someone loses. when one wins, tehy get big, predatory, and turn into a monopoly.. its a cycle. The system is rotten to the core and needs to be replaced.
Agree. And yet the staunchest opponents to your statement hold firm to an understanding of capitalism that is completely different than the definition given to us by classical economists like Marx, Ricardo, Smith, et al.
Most anti-marxists, even famous ones, have never read Marx.
You might like this guy... https://www.youtube.com/playlist?list=PLPJpiw1WYdTMLIyASxEheOVjl1vKkajYj
I have yet to meet anyone who disparages Marx who has ever picked up Das Capital, or who could remotely describe its themes.
key notes: "What is to be done with the surplus / excess? Let private owners hoard it?" Here we are today. American fiat oligarch owned slave system pyramid scheme.
The very issues that Bitcoiners see as the world’s most important financial issues were described years ago by these economists. And the reasons were given. Yet there is still a large group of us that accept the causes passed down to us from our overlords, that lead us to blame social programs, entitlement spending, and the poor and destitute for the markets’ inequities.
The problem is that Bitcoin may not solve capitalism if its still operating in a capitalist system. It solves inflation, but does not solve modern slavery and the employee/employer relationship...
money printing or "quantitative easing" is required to keep a capitalist system afloat.
Bitcoin is an excellent tool and moves us in the right direction. Though it is but one improvement within a whole gamut of social needs that must be addressed for an improved world order. I hope the excitement and tribalism characteristic of this ilk doesn’t blind us to those other injustices
I try not to advocate for any “ism” on a public forum. I absolutely advocate for understanding these constructions for what they are rather than for what we are told they are. My understanding of Marx and Smith as diametrically opposed economists was wrong. After reading them both, I see them as economic philosophers who both advocated for an improved social order and warned us of the dangers of unrestrained capital accumulation
Have you seen the debate between Richard Wolff and Gene Epstein? Or Slavoj Zizek vs Jordan Peterson? links below..highly recommended!