News for hackers. Stuff that matters.

A comment on American capitalism has taken an apocalyptic turn. Parent comment

Re:American capitalism has taken an apocalyptic turn by WalterBright on Thursday June 04, 2026 @04:16AM (#48395707)
> The user in question, begins with assumptions on how wealth and markets work that do not match anything I know of in economics.

I'm not surprised. My dad taught free market economics as a professor in his later years. Students would come up to him shocked that there was a case for free markets.

May I recommend any of Milton Friedman's books. Or "Capitalism" by Reisman. https://www.amazon.com/Capitalism-Treatise-Economics-Vol-1/d...

> in a market economy there is no theft

A free market economy is based on no force or fraud, and the government's job is to enforce that.

> wealth concentration does not occur.

Correct, in a free market.

[ Parent | on HN ]
Re:American capitalism has taken an apocalyptic turn by satvikpendem on Thursday June 04, 2026 @01:13PM (#48401594)
I broadly agree with you, but do you believe the US has a free market? With regulatory capture and other ways to influence politics to favor one corporation over another, I don't think it fully does.
[ Parent | on HN ]