Unchecked wealth that controls the government, doesn’t pay taxes, and bribes public officials to pick winners and losers is not.
That is what Capitalism is… the relentless pursuit of profit inevitably goes to what you seem to think are isolated problems.
Every economist agree you “can’t just always build a better mouse trap”. Building a better mouse trap is a common trope to exemplify how capitalism leads to efficiency and innovation but at some point you get to the end of the line.
You build a better trap than me, I lose business… then I build an even better one and take it back = innovation
At some point there is simply no way to build a better mouse trap, anything we do, increases the price more than the benefit of the innovation so we start making it cheaper = efficiency
Finally we reach a point where no more efficiency and no more innovation can be attained… so we either enshitify it and/or bribe a cheap gov officials to push the market my way. Cheaper to donate $10k to some political whore than risking $100K in R&D to change some law in my favour
Of course, once this path is identified, it is best to jump straight to the bribing and skip all the risky innovation and painful efficiencies
Here you may think “Hold on Jhex, I am saying to get money out of politics so no bribing allowed”
Good, if we magically, truly get all money out of politics and somehow also compensate for all biases, then capitalism does not work either because once you and I get into our high innovation / high efficiency models, nobody can ever get in the market (there is no way for them to compete) and we cannot keep forever growth which is a basic requirement of Capitalism.
In the best of theoretical models, Capitalism still ends exactly where it is right now (although it may take longer?)… barely any innovation worth while, barely any efficiency that is not entirely about me making money and fucking anything else, with most of the money in the hands of the ones who were “hard working enough” to be born to an rich family
That is what Capitalism is… the relentless pursuit of profit inevitably goes to what you seem to think are isolated problems.
Every economist agree you “can’t just always build a better mouse trap”. Building a better mouse trap is a common trope to exemplify how capitalism leads to efficiency and innovation but at some point you get to the end of the line.
You build a better trap than me, I lose business… then I build an even better one and take it back = innovation
At some point there is simply no way to build a better mouse trap, anything we do, increases the price more than the benefit of the innovation so we start making it cheaper = efficiency
Finally we reach a point where no more efficiency and no more innovation can be attained… so we either enshitify it and/or bribe a cheap gov officials to push the market my way. Cheaper to donate $10k to some political whore than risking $100K in R&D to change some law in my favour
Of course, once this path is identified, it is best to jump straight to the bribing and skip all the risky innovation and painful efficiencies
Here you may think “Hold on Jhex, I am saying to get money out of politics so no bribing allowed”
Good, if we magically, truly get all money out of politics and somehow also compensate for all biases, then capitalism does not work either because once you and I get into our high innovation / high efficiency models, nobody can ever get in the market (there is no way for them to compete) and we cannot keep forever growth which is a basic requirement of Capitalism.
In the best of theoretical models, Capitalism still ends exactly where it is right now (although it may take longer?)… barely any innovation worth while, barely any efficiency that is not entirely about me making money and fucking anything else, with most of the money in the hands of the ones who were “hard working enough” to be born to an rich family