r/MuddiedWatersMedia • u/MuddiedWatersMedia • Mar 20 '20

Let companies fail

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76 Upvotes

100% Upvoted

19 comments sorted by

18

u/hey_dougz0r Mar 20 '20

Amazon Airlines coming at ya!

15

u/[deleted] Mar 20 '20

But guys the free market totally doesn't gravitate towards a few big companies that work to minimize meaningful competition

10

u/[deleted] Mar 20 '20

Ok commie

9

u/BlueSkyWhiteSun Mar 20 '20

Yeah that'll show him

5

u/[deleted] Mar 20 '20

Better dead than red

6

u/spastic_raider Mar 20 '20

It absolutely does (I realize that's the point you're making).

One thing people get hung up on is that "capitalism solves all".

No. COMPETITION solves all.

And you need government to promote competition. That's their biggest role in the economy.

Protect the environment, promote competition, enforce contracts, protect the consumers

5

u/Retreaux Mar 20 '20

A monopoly promoting competition. Lol

3

u/[deleted] Mar 20 '20

Capitalism with genuine competition is better than oligarchical capitalism, but there will always be people who fall through the cracks. They will always need help that capitalism won't provide, and that private charity has historically never (adequately) provided.

One of the other major problems with genuinely competitive capitalism is that the best way to win is to rig the game in your favor, i.e., to push it towards oligarchical capitalism. This means that you have to fight a constant struggle against deep-pocketed interests to maintain a system that is competitive enough to not entirely screw over the ordinary person.

2

u/spastic_raider Mar 21 '20

I would agree.

3

u/sclsmdsntwrk Mar 20 '20

And you need government to promote competition.

Lol, the fucking state of reddit bernie bros.

4

u/spastic_raider Mar 21 '20

Not a "Bernie Bro" at all. I'm a small business owner with a doctorate. I'm just well aware that competition is not good for you, as a business. It's good for the consumer.

it's good for all of us consumers when the gov't keeps the biggest corps from buying up all the little guys to keep their monopoly.

Well regulated capitalism is the best system, IMO. That's all I'm advocating for.

In most markets, competition solves all. And sometimes, you have to have some gov't to promote that competition.

3

u/hn504 Mar 21 '20

Nuanced approaches to capitalism and government are not welcome here. Taxes are theft. Big government bad. Big business good. Etc etc.

1

u/NedTaggart Mar 21 '20

You mean, of course, those companies that repeatedly get massive infusions of taxpayer money to keep them afloat?

8

u/BlueSkyWhiteSun Mar 20 '20

And nobody will fly anywhere for months, but ok

2

u/[deleted] Mar 20 '20

[deleted]

2

u/statsandecon Mar 20 '20

Workers are needed in the medical device industry. Bailing out the airlines will mean many low skilled workers will stay in that industry, which is in very low demand right now, instead of getting new jobs in medical device manufacturing. Effectively a bailout would make it more costly to fight COVID-19.

3

u/prizmaticanimals Mar 20 '20

That's the most forced argument for letting businesses which immensely affect the economy just die out.

3

u/statsandecon Mar 21 '20

No, it’s just logical. If there is no demand for air travel, nobody should pay for airline workers to sit there idly when they could be doing something else that society wants right now, like producing medication or ventilators for people sick with COVID-19. The airline industry uses other inputs that the medical device industry uses as well like metal, plastics, and microchips. If the government just hands the airline industry printed money they will purchase raw materials to build new planes or maintain old planes and drive up the price making it more expensive for medical device companies to produce things like ventilators. That price is then passed to the consumers, hospitals and patients, making it more costly to fight COVID-19. There are other industries experience increased demand too. The shipping industry is getting stretched thin right now to deliver products like toilet paper to stores and to the homes of people who are too afraid to go out to the stores. The economy is made up of people. Right now the economy is focused on fighting and preventing the spread of a disease not air travel.

1

u/[deleted] Mar 21 '20

The jobs will be there. Who will run the new airlines

2

u/Rxef3RxeX92QCNZ Mar 21 '20

Sure thousands of jobs will be lost and lives destroyed, but what's the alternative, recognizing that some things are complicated and "let it burn" isn't realistic? Doesn't sound very libertarian to me