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Response to Fearless (Reply #74)

Wed Dec 14, 2011, 06:51 PM

88. My main objection is the notion that capitalism is synonymous with "free market"

The idea of a free market is taken as a truism in too many circles, yet the US is an example of anything but free market capitalism. In many markets in the US, oligopolies and outright monopolies exist. There's very little competition. Health care is one of the worst examples of this. Lack of competition is why health care premiums rise at astonishing levels. Worse yet, they tend to lobby Congress to keep things that way with the amount of wealth they've accrued. The problem--I believe--is capitalists are mixing the power of the state and the power of private capital in something that can only be described as corporatism, not that there is an issue of too much public control. I guess the main point is you can have capitalism without a free market.

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