Brand new episode of the Truth Caviar show is live!
On the brand new episode of the Truth Caviar podcast, we discuss the insidious effects of monopolies and oligopolies on our economy, democracy, and freedom; regulatory capture, revolving door, Big Tech, horizontal shareholding; corporate and government collusion; the rise of the Great Reset, totalitarianism, and the 21st century fascism; the midterm elections; and, as always, we connect the dots.
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Capitalism is an economic system in which private enterprise competes in a free market. Competition is vital to maintaining a free market. Capitalism without competition isn't capitalism---it's an oligarchy. Competitive capitalism enables economic freedom. As Milton Friedman famously declared, “economic freedom is a necessary condition for political freedom.” In other words, without economic freedom, political freedom cannot exist. But capitalism that we see today is a far cry from the competitive capitalism that Milton Friedman defended.
Since the 1980s, antitrust enforcement has been virtually nonexistent and, as a result, market concentration has sharply increased. Today, many industries are controlled by, at most, a few large players---monopolies or oligopolies. The economic and political consequences of this market concentration of power are profound: less investment; lower productivity; less innovation; higher prices for consumers; lower revenues for suppliers and small businesses; lower wages and more wealth inequality; fewer jobs, higher unemployment, and lower labor force participation; withering of American towns and the American Dream; less localism and more centralization; low economic growth; corporate wokeness and crony capitalism; corporate and government collusion.
This enormous concentration of market power has fostered a culture of "regulatory capture," whereby a few dominant players cozy up to government regulators in an effort to rig the system and the rules---including lax antitrust enforcement that lowers competition and enactment of regulations that keep out new entrants---in their favor, and donate to politicians who then turn around and pass legislation favorable to them. We don't live in a democracy. We live in an oligarchy.
We discuss the insidious effects of monopolies and oligopolies on our economy, democracy, and freedom; regulatory capture, revolving door, Big Tech, horizontal shareholding; corporate and government collusion; the rise of the Great Reset, totalitarianism, and the 21st century fascism; and connect the dots.
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