Comment on How does capitalism differ from crony capitalism?
IAmNorRealTakeYourMeds@lemmy.world 1 week agothe big question. is capitalism without crony capitalism possible and sustainable? given that rich people always will have more power to affect policies than poor people
Archangel1313@lemmy.ca 1 week ago
Short answer…no. Capitalism is never sustainable. It’s the equivalent of economic cancer.
As wealth is accumulated into fewer and fewer hands, monopolies will always emerge, effectively undermining anything resembling a “free market”. And once all that capital is concentrated into the hands of a few ultra wealthy oligarchs, they will have all the power they need to effectively capture the state…and all the rest of us with it.
The only way to prevent that system from inevitably emerging, is to prevent the accumulation of wealth in the first place. It’s fine to make money. It’s even fine to make a lot of money. But no one needs so much money, that they can effectively buy the entire government.