While true, you overstate the problem. Look up the companies in the S&P 500 today, 10 years ago, 20, 30, 50. There are dramatic changes with only a handful of long term survivors.
Yea, the "too big to fail" principle needs to just go. Corporations should be prevented from becoming so big in the first place. There must be a limit on the revenue generation - once you cross a number, you should be broken up.
Humongous companies just become national-level power brokers adversely affecting both the government and the free market.
Monopolies have a bone to pick with you. They aren’t generally garbage collected as their wealth becomes self-perpetuating even in the face of inefficiencies as they can continue to raise prices and push others out.
This was true during the gilded age and it’s become true again. It took systematic regulations, unions, welfare, and the Sherman antitrust act.
If it wasn’t for a democratic government the oligarchs would still have been in control. They are corrupting the current institutions thought the DOGE coup. You see this in the self dealing of the billionaires such as Musks contracts as well as the tariff exemption grift.
So please don’t flaunt a free market as a natural solution to inefficient systems, not even Adam Smith believed that.
linksnapzz|10 months ago
FredPret|10 months ago
lenkite|10 months ago
Humongous companies just become national-level power brokers adversely affecting both the government and the free market.
chewbacha|10 months ago
This was true during the gilded age and it’s become true again. It took systematic regulations, unions, welfare, and the Sherman antitrust act.
If it wasn’t for a democratic government the oligarchs would still have been in control. They are corrupting the current institutions thought the DOGE coup. You see this in the self dealing of the billionaires such as Musks contracts as well as the tariff exemption grift.
So please don’t flaunt a free market as a natural solution to inefficient systems, not even Adam Smith believed that.