How long is it going to take until AI is useful, and why is everyone raving about this extremely mid tech? Here's my theory!❤️ If you would like to support w...
This isn’t a problem with capitalism, it’s a problem with governments. If we eliminate government entirely (e.g. anarcho-capitcapitalism), there are no regulations, thus no regulatory capture. There are other problems, and that’s where governments should come into play, but they should be as removed from the market as possible to limit the profitability of lobbying.
For example, I’m not happy with the ACA and how it mandates certain minimum coverage, because that encourages companies to meet the bare minimum and profit by hiding as many exclusions as they think they can get away with deep in the agreement. That’s certainly not the intent, but that’s what happens, especially since corporations can lobby to soften language so they can find/create loopholes.
I would prefer one of the following instead:
public option - private insurance would need to demonstrate value in excess of what Medicare provides in order to compete, which keeps them (more) honest
hand out cash for customers to pick their own insurance, and merely require contracts to be easily understandable (and the government would take an active role is prosecuting bad agreements)
But no, we got the middleground, which results in a lot of lobbying and cronyism. IMO, governments should instead place themselves in the role of prosecution, letting the courts (and therefore the public) decide on the interpretation of the law through court precedent. Having government agencies set and enforce rules directly opens the door far too widely for cronyism.
This isn’t a problem with capitalism, it’s a problem with governments. If we eliminate government entirely (e.g. anarcho-capitcapitalism), there are no regulations, thus no regulatory capture
No, in that case you would just have large existing corporations hiring hit squads to kill potential competitors instead which is obviously much better /s The desire to do what regulatory capture does originates in capitalism, not in government, government just turns it from a violent action into one of bureaucracy.
I do believe government is necessary, I’m just saying that the more government is mixed with the economy, the more special interests will be able to interfere. So government should be very careful how it solves problems.
This isn’t a problem with capitalism, it’s a problem with governments. If we eliminate government entirely (e.g. anarcho-capitcapitalism), there are no regulations, thus no regulatory capture. There are other problems, and that’s where governments should come into play, but they should be as removed from the market as possible to limit the profitability of lobbying.
For example, I’m not happy with the ACA and how it mandates certain minimum coverage, because that encourages companies to meet the bare minimum and profit by hiding as many exclusions as they think they can get away with deep in the agreement. That’s certainly not the intent, but that’s what happens, especially since corporations can lobby to soften language so they can find/create loopholes.
I would prefer one of the following instead:
But no, we got the middleground, which results in a lot of lobbying and cronyism. IMO, governments should instead place themselves in the role of prosecution, letting the courts (and therefore the public) decide on the interpretation of the law through court precedent. Having government agencies set and enforce rules directly opens the door far too widely for cronyism.
No, in that case you would just have large existing corporations hiring hit squads to kill potential competitors instead which is obviously much better /s The desire to do what regulatory capture does originates in capitalism, not in government, government just turns it from a violent action into one of bureaucracy.
Hence why I said there would be obvious problems.
I do believe government is necessary, I’m just saying that the more government is mixed with the economy, the more special interests will be able to interfere. So government should be very careful how it solves problems.