water on your take - capitalism seeks always to maximize returns to capital holders. Therefore monopoly and cartel behavior will be the inevitable result without a countervailing force.
Even more water - political power cannot contain capitalism, because economic power can be exchanged for political and military power. Only ownership of capital by the society in general provides a way to avoid oligarchy long-term.
Not the “whole”. That part is the “Free Market Economy”, which is one part of what defines Capitalism. The other part is private ownership of the means of production.
You can have a free market economy also without private ownership of the means of production. I.e. worker or state owned companies can compete in a free market.
Hot take: the whole (theoretical) concept behind capitalism
water on your take - capitalism seeks always to maximize returns to capital holders. Therefore monopoly and cartel behavior will be the inevitable result without a countervailing force.
Even more water - political power cannot contain capitalism, because economic power can be exchanged for political and military power. Only ownership of capital by the society in general provides a way to avoid oligarchy long-term.
Not the “whole”. That part is the “Free Market Economy”, which is one part of what defines Capitalism. The other part is private ownership of the means of production.
You can have a free market economy also without private ownership of the means of production. I.e. worker or state owned companies can compete in a free market.
True. I was just unsure if people remember it :D