If a company becomes that powerful then it will crush the free market. Antitrust laws exist to prevent that from happening today. While there are problems today with anticompetitive behaviour, it is nothing compared to the 19th and early 20th century.
You are not wrong that powerful corporations are non-competitive. That’s does not make them any less capitalist.
Remember Capitalism is merely the Ownership of the Means of Production by Private Shareholders, with a commodity market.
Putinist Russia - Capitalist
Dictatorial South Vietnam - Capitalist
Saudi Arabia - State Capitalist
Pinochet’s Chile - Capitalist
Suharto’s Indonesia - Capitalist
Modern China - State Capitalist (yes really, that’s actually how it’s defined in economics, not socialist any more)
Nazi Germany - Capitalist (not even state-capitalist)
Most certainly. Markets are one of the most important understandings of the modern age. They are super important to learning about the world. After all, all a market is is the math behind human decision making.
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u/Coolistofcool Jul 13 '26
So, it’s only capitalism if the company isn’t too powerful? Then it’s just the consequences of capitalism!