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by Cumpiler69
562 days ago
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> provides a much higher social benefit than a single behemoth In capitalism, companies don't exist to provide a social benefit, that's what the government is for. Companies exist to provide value to the shareholders, that's it. And the US is far better off with those trillion dollar behemoths than without. The amount of prosperity the US working class sees because of those behemoths puts them at much higher wealth and disposable income than Europeans even after you account for the higher education and healthcare costs. >even if it doesn't make the magical GDP number go exponential That "magical GPD number" is also what pays into the welfare services the EU desperately needs. Where do you think the EU will afford that level of welfare if that GPD number will keep stagnating? |
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This is stated over and over by people who like big companies, like an axiom. And like an axiom, it's impossible to prove - because the only way to prove it would be to compare it against something that doesn't exist, a United States without trillion dollar companies. So you're supposed to just believe it because of how often it's repeated. But I don't believe it, on the contrary, it smells like bullshit to me. It reminds me a lot of another financial axiom we were all supposed to believe: trickle down economics. And look how that turned out.