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I think you'd agree, when a supplier can set any price they want without any question from the customer, and the customer pays it as a matter of law, policy, or crony preference, that market is broken.
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Quite correct. Such a situation is a market distortion, ie a system in which such things are practiced is not Capitalist, rather Mercantilist.
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Capitalism left to its own devices typically ends up with monopolies, exploited workers, etc.
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Capitalism left to its' own devices proved a myriad of means by which such issues can be addressed. Lawsuit, boycotts, strikes, etc etc. Mercantilism, in which Corporations are supported by the Government, removes these means by lessening or eliminating their impact.
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What is required is a set of laws and regulations to temper the negative aspects.
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Or a -lack- of those laws and regulations which -cause- such negative aspects.
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In a capitalist system, those who behaved illegally or unethically would have to be punished by the market reacting to their behavior.
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Quite correct. So why not remove the laws (Corporate Personhood and welfare, just to start) which prevent this from happening? Fujifilm, Smith & Wesson, and the Montgomery Transit Authority can all relate how effective such means can be when the Gov't gets out of the way.