alt Hacker NewsI think its obvious the GP means free market capitalism, which is what almost everyone who favours capitalism thinks is the form it should take.
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I don't see how free market capitalism fixes that. I looked up a definition to make sure I wasn't missing something and as per investopedia:
"The term “free market capitalism” refers to an economy that puts no or minimal barriers in the way of privately owned businesses. Matters such as worker rights, environmental protection, and product safety will be addressed by businesses as the marketplace demands."
it's basically worship of owning the means of production and not being regulated in its use, e.g. if you own a company you get to dictate all sorts of unreasonable things to your employees, and any benefits gained from automation accrue to whoever can afford the up front money to own the machines.
And these people has audacity to proclaim that socialism is based on fantasy.
Talk about utopia huh?
Free markets never existed, don't exist and never will. Markets are defined by laws and regulations in which they exist in. They can't ever be "free".
I assume the downvotes are because people do not know the difference between "free market" and "entirely unregualted market"?
Please get your definitions from someone reasonable (Adam Smith might be a good start) rather than Ayn Rand.
The free market abhors competition. It's much more profitable to be a monopoly - and profitable enough by far to squash any competitors in infancy.