this post was submitted on 03 Dec 2023
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I remember in college we took a course on economic efficiency and the short takeaway is "the free market is extremely efficient, but only when the competing parties start with equal resources. the more inequal the starting position, the less efficient the market becomes." and to my mind that suggests that we should enforce some sort of "rubber-banding" effect so that a company needs to keep competing or else it will "drift" back to the mean over time. Something like aggressive taxes on the uber-rich and comprehensive welfare for the poor, y'know? Capitalism but with safety guards would be pretty cool.
There is a reason why the European/Scandinavian economic model works so well.
Give it 10 or 20 years and we'll basically be the US, but with really high taxes
You gived 10 years 7 times in a row