Comment by sashank_1509
4 hours ago
I might be gatekeeping, but I consider a mark of actual healthy capitalism, to be creative destruction, the biggest companies of 1 generation are destroyed by the next generation and the churn keeps going on. Nothing ever lasts except the system.
By this criteria, in the entire world, only US and UK seem to do capitalism properly. Whether the current age of tech companies survive till 2050s is to be seen, (we are already seeing signs of OpenAI, Anthropic joining them but it is to be said if the existing monopolies of say Microsoft will be disrupted).
In other countries, big companies have been the same for hundreds of years, from Japan to Germany to Korea to India. This is no longer capitalism as much as it is some soft form of Feudalism, where the same set of families hold power for generations at a time till some major fortune swings occur.
And even US and UK are very questionable by now. The last time they had something resembling capitalism was sometime before Roosevelts New Deal.
Why’d you say that? IBM, GE, Ford have all been disrupted
Business can get too big to fail and instead of being allowed to fail get bailouts from the government, thus are not truly capitalism.