Comment on The existence of billionaires is a policy failure
vga@sopuli.xyz 1 week agoIf you want to fix it you need a new economic system.
We could try free markets.
Comment on The existence of billionaires is a policy failure
vga@sopuli.xyz 1 week agoIf you want to fix it you need a new economic system.
We could try free markets.
senorseco@lemmy.today 1 week ago
“We could try actually free markets with no benefits to anyone. By benefits here I mean tax breaks, government contracts and subsidies for companies.”
I’m far from an expert but didn’t we more or less try that during the industrial revolution? As I recall from old history books, it wasn’t so great for the majority of citizens and the economy was an actual roller coaster ride.
vga@sopuli.xyz 6 days ago
I don’t think so. Protectionism was high, government-granted monopolies were typical. The British East India Company was the only company that was allowed trade with India and China from UK, for instance. The Dutch had something similary.
Perhaps later though in late 1800s it was more like you described.