this post was submitted on 02 Dec 2024
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Capitalism with guardrails and protections just hasn't advanced to late stage yet. It is a temporary state.
See the repeal of glass steagall act in 1999. Yes in 1933 when the act was originally passed, guardrails were implemented. Guess what, they got removed.
Reforming capitalism is a temporary measure. Externalizing the consequences of capitalism to future generations.
That primarily happens due to voters going against their own interests. If society actively undermines their own protections eventually, then no economic and/or governing system will solve that problem.
Especially when control of mass media is consolidated into only a few people.