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0 sats \ 10 replies \ @BTC_Bellzer 26 Sep \ on: The Whipping Boy of Modern Culture - CAPITALISM bitcoin
CRONY capitalism is a large problem but socialism is not the answer
Adam Smith warned that businesses will always at the first opportunity start scheming how they can collude and fix prices and markets- so, a strong proactive regulatory approach is required to ensure crony capitalism does not take hold.
Unfortunately across most of the 'liberal western democracies' the cronys (capital) have captured and controlled the politicians/regulatory institutions.
If socialism means regulating and preventing market fixing then bring it on.
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The current regimes are supposedly designed to regulate markets and capitalists. If it doesn't work under what we have now what makes one think killing the prices system and central planning will be better. We have mountains of evidence showing socialism leads to shortages and poverty. No thanks.
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The current system does Nothing to limit bankers colluding and market rigging- it actually explicitly empowers them to do that!
The current system also allows corporate lobbyists to own politicians via patronage- that is enabling crony capitalism, monopolies, oligopolies and huge inefficiencies.
If preventing market rigging monopolist cartel and oligopoly behaviour is branded socialist then bring it on. Read Adam Smith again if you doubt the need for it.
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That's not socialism. That's the problem.
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Fiat money is not a free market- it is rigged.
And allowing unlimited corporate sponsorship of politicians is not democracy it is cleptocracy.
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I don't disagree. But socialism is even worse. The true deep issue is the state. Centralization of control. The greatest monopoly of all. The solution is freedom, bitcoin and the death of the state. Bitcoin could take away one of the biggest tools of the state/banks.
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I agree however there is still the question of whether nation states that still operate fiat monetary systems will have greater short term ability to focus capital upon warfare and thereby take over any Bitcoin Standard jurisdiction. The bankers are not going to surrender their power willingly.
And if the state is so decimated as you seek who prevents anti competitive market rigging cartels, monopolies, oligopolies etc?
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I don't think much would prevent them other than what prevents them today. The majority of people have no clue who is pulling the strings. This is the problem with the state. The state uses its military to do the work for these cartels under the mask of national pride, peace, and other lies.
The problem with what you are saying is that you are describing the status quo and saying it might happen if things were different. Pretty hard to argue against something set up like that.
Point is, socialism is the biggest rigging/picking winners system ever invented. I don't have all the answers but socialism is for sure not the answer. We have been able to watch how it works. Even crony capitalism as bad as it is doesn't compare to socialism.
This is my point. Socialism isn't the answer. Freedom isn't the problem. Centralized control over money and other monopolies the state maintains are the deep issues. Not free trade. And yes, there is free trade in the US and many other countries. Not as free as it should be much more free than it would under a stronger more centrally managed economy.
I would rather seem more decentralized entities competing vs.what we have now. Socialism will reduce choice. Reduce freedom. Reduce prosperity. Its poison. The knowledge problem is the key flaw. Central planners cannot know, even with AI what decisions need to be made. The mass market is a powerful machine that is usually taken for granted.
Crony capitalism is central planning but not as heavy handed as socialism. This is why it has not led to as much destruction.