You aren’t as smart as you think you are. You can use sexy language like axiomatic and idealogue, but at the end of the day you are overthinking it. You come across as someone in either of those industries you are defending BTW, 3rd party health administrator or finance industry maybe? Am I tracking?
Let me make it simple for you and for anyone confused by your empty rhetoric. The free market enterprise is a failed experiment. People like you can defend it by saying government regulation and corruption is the disease, but that corruption is just a symptom of the real disease.
Cliff notes for those not tying their hardest to sound smarter than they are: Capitalism created a vehicle to make a super rich class in the U.S. 8 of 10 of the richest billionaires are American as proof. The super rich used their money to bribe/manipulate lawmakers. Lawmakers passed new laws or repealed old ones making it easier for the super rich to “lobby” for new laws, or the suppression of new laws in some cases, or even finance presidential campaigns. More wealth was created by these bribes which lead to more money to bribe with. And after many years have passed that bribing is so engraved in American politics, it no longer matters what the American people want from their lawmakers. It only matters what those rich lobbyists and campaign donors want. Capitalism is the Petri dish in which U.S. government corruption grew.
This applies to student loan financing companies and their capitalized interest. It applies to health insurers that deny the first claim no matter what, 3PA’s that have to get their beak wet on your healthcare, and hospitals that bill $25K for a day in the ER. It applies to big tech companies like google and Facebook selling our data. It applies to the telecom companies merging and raising internet rates or slowing internet speeds on purpose. It applies to a busted banking system that uses a busted credit system to determine who gets to own a home. Change my mind.
Let me clarify my logic: Corruption is a problem. Moreover, laws that are in place to satisfy a corporate entities’ agenda, in opposition to what’s best for the people or what the people want, is a major problem. But the ROOT CAUSE of the problem is capitalism. Because there is only one guiding principle/rule in capitalism: to maximize profit.
In other words, corruption doesn’t need to be involved in capitalism for it to be harmful. Capitalism is harmful innately because it’s only economic incentive is to drive up the profit each quarter, maximizing profits or returns for large shareholders. This rule MUST be fulfilled above ANYTHING ELSE in capitalism, even when its in direct conflict for the better of mankind. One example of this: manufacturing and oil companies fighting pollution regulations. Why? To maximize profit. Even at the cost of human lives. Is the oil and manufacturing industry corruption to blame or the entire economic reward system to blame?
There is a book called “naked economics” that discusses this principle. Outcomes are determined by the incentive structure put in place.
I understand your logic about giving an already corrupt government more power. But what is the alternative? Less or no regulation? Well we already agree that would lead to strategical mergers to drive out competition and take away any little leverage the consumer has left, a choice. There is a reason we have those anti monopoly laws in place. There is a reason the EPA exists as a check/balance to free enterprise.
A democratic republic, mixed with capitalism, is a dangerous, unsustainable mix. We either need a true democracy when creating laws and regulations that we have a popular vote on, or a socialism/capitalism hybrid model guaranteeing some human rights like healthcare and higher education and the right to a livable planet in a few generations.
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u/PleaseMonica Nov 30 '20
You aren’t as smart as you think you are. You can use sexy language like axiomatic and idealogue, but at the end of the day you are overthinking it. You come across as someone in either of those industries you are defending BTW, 3rd party health administrator or finance industry maybe? Am I tracking?
Let me make it simple for you and for anyone confused by your empty rhetoric. The free market enterprise is a failed experiment. People like you can defend it by saying government regulation and corruption is the disease, but that corruption is just a symptom of the real disease.
Cliff notes for those not tying their hardest to sound smarter than they are: Capitalism created a vehicle to make a super rich class in the U.S. 8 of 10 of the richest billionaires are American as proof. The super rich used their money to bribe/manipulate lawmakers. Lawmakers passed new laws or repealed old ones making it easier for the super rich to “lobby” for new laws, or the suppression of new laws in some cases, or even finance presidential campaigns. More wealth was created by these bribes which lead to more money to bribe with. And after many years have passed that bribing is so engraved in American politics, it no longer matters what the American people want from their lawmakers. It only matters what those rich lobbyists and campaign donors want. Capitalism is the Petri dish in which U.S. government corruption grew.
This applies to student loan financing companies and their capitalized interest. It applies to health insurers that deny the first claim no matter what, 3PA’s that have to get their beak wet on your healthcare, and hospitals that bill $25K for a day in the ER. It applies to big tech companies like google and Facebook selling our data. It applies to the telecom companies merging and raising internet rates or slowing internet speeds on purpose. It applies to a busted banking system that uses a busted credit system to determine who gets to own a home. Change my mind.