Post by @ryathal

In reply to 8 earlier posts

@ryathal@sh.itjust.works on sh.itjust.works Open parent

Chicago School generally isn’t in favor of monopolies, and they opposed the to big to fail concept that is a big reason we are in this mess.

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@PeriodicallyPedantic@lemmy.ca on lemmy.ca Open parent

I am opposed to the inevitable outcome of my policies!

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@ryathal@sh.itjust.works on sh.itjust.works Open parent

Nonsense, if companies took the loss from 2008 many banks and PE wouldn’t exist right now. A key part of capitalism is companies failing from bad investments, entropy, or other factors. You need the bust to create the boom.

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@PeriodicallyPedantic@lemmy.ca on lemmy.ca Open parent

The Chicago school opposes monopolies and bailouts, but they support the conditions that inevitably lead to monopolies and too-big-to-fail companies.

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@ryathal@sh.itjust.works on sh.itjust.works Open parent

The conditions get created by government distortion of a market. Chicago School discourages government intervention.

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@PeriodicallyPedantic@lemmy.ca on lemmy.ca Open parent

That lack of intervention is what created the conditions Capitalism naturally moves towards monopoly. Government regulation prevents monopolies. Capitalism accumulates power. Capitalists use that power to influence the government into letting them accumulate more power, until they have enough power to remove the regulations that prevent monopolies, then the capitalists form monopolies, then we get the very situation that we’re describing.

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@ryathal@sh.itjust.works on sh.itjust.works Open parent

Government regulation also creates and sustains monopolies. Most cable companies have competition prohibited by law. Bail outs allow companies that should fail and be replaced by many smaller companies to instead be more monopolistic.

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@PeriodicallyPedantic@lemmy.ca on lemmy.ca Open parent

Most cable companies have competition prohibited by law. And how do you think laws like these came into existence? Capitalists accumulated power and then used that power to influence the government to protect their business. You’re so close but for some reason you refuse to accept that business can and does influence the government. But beyond that, the regulations we’re talking about were anti-monoply regulations. Despite you saying that the Chicago school is anti-monoply, they pushed to defang regulations that combated monopolies. Your justification is that regulations create monopolies, but you provide no reasoning why defanging anti-monoply regulations would reduce monopolies.

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ryathal in !lemmyshitpost

@ryathal@sh.itjust.works · Dec 11

Blaming capitalism because doing a bad thing led to bad results is like blaming a recipe for being bad when you swap the eggs for cottage cheese. When you let companies make rules, that’s government intervention.

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