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To fight inequality, we must strip billionaires of their monopoly power (jairajdevadiga.com)
submitted 2 years ago by to c/usa@lemmy.ml
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A couple of slices:

Extreme wealth disparity is not due to a lack of taxes, but rather a lack of competition. In a competitive market, profit margins are quite low. If any one company tries to set its prices much higher than the cost of production, rivals quickly undercut it. Unfortunately, large parts of our economy are blocked off from competition by laws and regulations. This allows monopolistic corporations to charge exorbitant prices.

...

Therefore, it is important to understand how billionaires create and maintain these monopolies that allow them to amass such unfathomable riches.

And:

A lack of competition allows billionaires and their corporations to not make, but take wealth from everyone else. It is not enough to merely tax them on their ill-gotten gains. We need reforms to ensure that they can’t exploit and fleece everyone in the first place.

Do read the whole thing.

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[–] 4 points 2 years ago*

I'm a Communist, I advocate gradually working towards full Public Ownership and Central Planning. I believe history has proven the inefficiency of the profit motive and the gross excesses of Private Property. Trump controlling the government wouldn't give him dictatorial control over all aspects of the economy, that's akin to saying we should abolish the Post Office because Trump is president. This is a silly logical train to follow.

Moreover, I am very confused about what you are vaguely gesturing towards when you say "it has shown to work poorly repeatedly." If anything, Public Ownership and Central Planning has largely proven to be quite effective, but more effective when applied to developed areas of industry where Markets have already done the best they can to centralize beforehand. In underdeveloped areas, markets are still a useful tool, but eventually outlive themselves.

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