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by freedomben
1634 days ago
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I have gripes with capitalism, but this isn't one. Capitalism essentially allocates resources to where they are most efficient (although IMHO not as purely as most Austrian economists would argue, because people aren't all that rational and information asymmetry makes rationality impossible in many other cases). Sometimes (ok often) that goes to huge megacorps due to economies of scale, but in return you take on massive bureaucracy that makes you less efficient, opening the door for disruption. Disruption happens all the time to big players that don't continue doing the best for the least[1]. Now that said, as barriers of entry continue to accrete due to regulatory capture and deep tech, I do worry that the ability for startups and small business to compete may decline. Monopoly is a vastly over simplified model that doesn't consider much of modern economics. Interestingly, it was actually invented to demonstrate to people how evil capitalism is[2]. [1]: https://www.investopedia.com/terms/c/creativedestruction.asp [2]: https://www.bbc.com/worklife/article/20170728-monopoly-was-i... |
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Close. Monopoly was created by Lizzie Magie, a Georgist, and its purpose was to demonstrate how evil land ownership by monopolies/rent seekers is and to advocate for a Land Value Tax [1]. Many of the forces you describe that apply to other areas in economics do not apply to land. You cannot create new land, after all.
[1] https://en.wikipedia.org/wiki/Monopoly_(game)#Early_history