alt Hacker NewsCapitalism means resource allocation is primarily decided by billionaires. Why would they give resources up in any way that doesn't make them even richer?
Capitalism means resource allocation is primarily decided by billionaires. Why would they give resources up in any way that doesn't make them even richer?
No, the term for what you describe is "oligarchy".
Under "capitalism", the invisible hand of the free market is supposed to decide resource allocation.