this post was submitted on 11 Nov 2023
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That is the death of capitalism. That’s capitalism (based on free markets) devolving into oligopoly (based on regulatory capture and tightly-restricted markets).
Capitalism doesn’t last any better than any other institution. It degrades into something else. The thing it degrades into is a centrally-controlled market, similar to what you find in socialism.
Agreed. Whether it is Capatalism, Communism, Socialism, democracy, dictatorship they all have centralizion in them even if their intent is otherwise. We need to support more decentralized services and governance as it balance the poor and returns it to the people. We just need more people to get on board, it it seems like we prefer to give our power to power hungry companies and regimes instead. Not saying we need to have zero centralization as it has its place, but it needs to be kept in check and the only to force to do so is decentralization. But it is all so much more complicated and above the human condition to manage. Hopefully AI will be able to help for better or for worse.