The well-off and financially secure easily get into this pipe-dream that if we just decentralise and free everything, democracy just happens like magic.
But democracy doesn’t actually happen, oligarchy happens. Freedom from central control means those resources are fought over by the most powerful, not shared like in a democracy.
Competition is healthy, as long as there is competition. But what we increasingly have also in the #west is #monopolistic#oligarchy.
And to reinforce my point from another side of the political spectrum: Luigi Zingales, a chicago school economist, was pointing at the same thing in 2013.
People feel there is something wrong, and prosperity is failing to reach them. Capitalism is becoming increasingly crony.
Zingales has a different set of answers, which are also worth your eyes or ears.
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