That’s how capitalism works without government intervention, until the wealthy are so wealthy they buy all assets and our politicians, yes. Eventually capitalism will eat democracy if you let it.
You can have the Scandinavian model where the worst externalities are counteracted by government (with high taxes, no privatisation of important public services, etc).
That’s how capitalism works without government intervention, until the wealthy are so wealthy they buy all assets and our politicians, yes. Eventually capitalism will eat democracy if you let it.
“Eventually”. Cool.
Is there a better system than capitalism? Nope.
You can have the Scandinavian model where the worst externalities are counteracted by government (with high taxes, no privatisation of important public services, etc).