Is capitalism the problem or is it neopotism (cronyism) invalidating the meritocracy? (lemmy.world)

submitted 3 days ago* (last edited 3 days ago) by Clinicallydepressedpoochie@lemmy.world to c/asklemmy@lemmy.world

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[-] reddig33@lemmy.world 17 points 2 days ago

Deregulation is the problem.

allowing companies to merge until they become “too big to fail”
allowing companies to poison our environment and our bodies without fear of substantial repercussions
allowing companies to make false product claims without fear of substantial repercussions
allowing companies to lobby and contribute to political campaigns even though they can’t vote

[-] Semjaza@lemmynsfw.com 3 points 2 days ago

I agree, but add the proviso that since under capitalism capital is power, those with the most capital will slowly find ways to use their capital to deregulate their income streams again.

Supporting friendly politicians, editorial control of the media, or even just the good old Starbucks/Wallmart practice of squashing independent competitors by leveraging economies of scale to outcompete on price - which at the end of the day, the poor customer has to pay attention to. These are all examples of how capital will find ways to get ahead.

Even if companies can't donate, the CEO or every member of the board still can.

this post was submitted on 23 Oct 2024

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