Re:Busted retailers use bankruptcy to break leases by the th...
by dragonwriter on Thursday August 06, 2020 @09:27PM
(#24077102)
> People get confused because government gets involved and you end up with cronyism.
Government was involved from the beginning; capitalism was historically a redirection of the power of government from serving the feudal aristocracy to serving the mercantile class.
The utopian (and largely self-inconsistent) rationalizations for capitalism as something that magically exists separate from government and cronyism came much later than capitalism itself, and most of them even later than the early socialist critique of the reality of capitalism.
Re:Busted retailers use bankruptcy to break leases by the th...
by notacoward on Thursday August 06, 2020 @11:03PM
(#24077586)
> Bad execution is punished by going out of business.
That's true for the entrepreneurs, but this was about the investors and it tends not to be true for them. It should be.
Re:Busted retailers use bankruptcy to break leases by the th...
by coliveira on Friday August 07, 2020 @01:45PM
(#24084588)
Crony capitalism is something that doesn't exist. It is all capitalism. For example, Facebook using the support of the US government to control markets around the world (while TikTok is banned) is just capitalism. MZ's fortune can only happen due to this marriage of capitalism and government.
Bad execution is punished by going out of business.
This forces everyone to be hyper efficient at taking raw resources and getting useful value out of them. Thus people have more goods for less money.
People get confused because government gets involved and you end up with cronyism.
Free market is as another comment says, the minimum amount of regulation possible that isn’t killing people.