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Originally Posted by roachboy
how quaint.
the way i figure it, ace, understanding capitalism is best undertaken by using models in conjunction with actual historical investigation. if you did any of that, you'd probably have figured out that markets don't tend toward anything in principle but historically if they've tended toward anything it's toward concentration.
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First to understand markets one must understand costs, even those that are hidden.
Second, markets, even free markets trend toward concentration for predictable reasons. One of those reasons is the benefits of economies of scale, with that comes market competitive restrictions. The next phase in market evolution becomes key. There is a tendency for the "collective" (market participants or government) to protect the status quo rather than allowing or even encouraging new more agile competition. This will lead to the demise of US capitalism, as evidenced by, for example, the auto industry.
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there's really no models under which concentration in production and "average people" making out go together.
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Not sure I understand your point here.
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i'm not interested in econ 101 games.
and i see no reason to take "free market capitalism" seriously in 2010. but i don't often debate religious questions with religious people. so i'll leave it at that.
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Studying markets never gets boring to me. Currently, I love being able to see the evolution of the internet and how it operates as a market. But I am weird that way, and I understand people wanting to ignore things like that, but there are still lessons to be learned.