Comment by dist-epoch
7 hours ago
> but after Brockman had donated 25M to Trump’s PAC
> In capitalism, the market decides.
> In oligarchy, connections and donations decide.
Author is confused about what Capitalism is. It worked exactly as expected, Capital used itself to advance it's own needs - maximizing (own) growth.
Capitalism is not about markets, it's about Capital.
There is a reason why lobbying is an accepted practice in one of the most Capitalistic countries in the world, and generally forbidden in Socialist EU.
> generally forbidden in Socialist EU
This is one of those cases where you wish your critics were right. One in 40 people in Brussels is a lobbyist, but apparently it's forbidden.
Very kind of you to only pick one error in the parent post to critique.
I've been working with UK/EU lobbying data in recent months, so that's the one I felt competent to pick on. I thought I'd leave the nature of capitalism to someone else.
Which prominent economist has argued that bribes are an essential part of Capitalism?
Someone came up with the "invisible hand of the free market" theory and become quite famous so I'd say we can add our own crackpot theories on top, apparently they don't have to be very well researched to stick around