alt Hacker NewsUsury and debt based economy creates a dynamic where being competitive in production is secondary to financialistion.
In short, instead of market being driven by demand and productivity, it is driven by financier curving out monopolies.
Peak Examples are Uber and AirBnB.
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No access to capital can and does constrain supply to a very high degree.
...except Uber STILL faces competition, and I went back to hotels after finding AirBnB too pricy.
It is good and proper that people aim to create monopolies, as long as they want to do that in a productive and legal way! Monopolies are inherently dangerous, but the truth is that acquiring and maintaining one is not straightforward unless you can get the government to ban your competitors.
Expand. I am typically against hard money gold bug libertarian arguments but your description seems interesting and I am open to being persuaded.
What makes this view more correct than say, "economies with marketing creates a dynamic where being competitive in production is secondary to marketing" and concluding that nothings a free market until we ban all advertising? After all, you can make a vaguely plausible argument about how marketing isn't really about the merits of the product, and therefore allowing it is antithetical to the free market or whatever