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I don't think this is a possibility. Without a bloody revolution. Or cataclysmic event. It's beyound the scope of a Glorious Revolution IMO
I think fixing the current issues is a good solution.
It's just most capitalists will not admit problems within the structure and human social behaviour. So instead they say well it's better than socialism. Sure. I would rather deown than burn to death but I die both ways.
All those conditions seem to go against what others say free-markets are.
originally posted by: Willingly
And the pope claims to be the representation of god on earth. What do you think about that?
Read Owell, in case you don't know that a claim is just a claim. It has to be proven to be the case for a claim to be a reality.
originally posted by: luthier
a reply to: Semicollegiate
Again capitalism is a philosophical idea. It was developed shortly after the French Revolution.
I never once made an arguement for socialism.
Your being an idealistic Austrian economist. There is zero evidence a free market has existed or can exist with a human social structure.
Most drug research is in fact so complicated and expensive that yes one company can in fact without a patent control the market.
The Rockefellors nor the De Beers required the Gov to do what they did. The human factor allowed them to maximize what they could do through government bribes. Not required.
So in this theoretical model I own land which oil is first discovered. I then develop the equipt to do extraction. I buy more land and create the devices to find oil. I buy more land. Continually all the while building relationships which you can call political or not.
It's part of business to do so either way. If I control a substantial portion of the market I can control the commodity prices substantially.
If a new business springs up I can make conditions unfavorable for the amount of investment in equiptment vs the production value of the commodity. Particularly with credited equiptment.
You also don't adress how human rights or polution issues are resolved without market intervention. The suggestion by Austrian economics is the market will correct the problem. Even though this never happened.
Furthermore this form of economics is so idealistic it can only exist in a vacuum.
In order for the system to work you need absolute perfection.
Otherwise human social issues destroy the system. You absolutley can not seperate humanity from economics which is why the free market doesn't exist.