[johncarpinelli]

I like this idea. If any rent-seeking group achieves market dominance, the government should regulate their prices. For example, the price of prescription drugs and higher education should be set by the government. Laissez-faire capitalism only works in markets with price competition.

Ultimately, I think most industries will evolve into government regulated monopolies. Consolidation is a standard part of the life-cycle for most markets. We should embrace the efficiency that dominant players can achieve.

With regard to individuals, I think a universal basic income is the long-term solution. Let a few people become billionaires, while the masses are paid to relax at home. There is a large amount of wasted resource in industries like retail, marketing and sales. Society would probably be better off if those industries shrank.