Thursday, March 04, 2010
Democratic and Oligarchic Capitalism
The way I look at it, capitalism is at its best when it is democratic, when anybody can enter the field with a new idea or new product and be successful. If we are trying to change to non-traditional energy sources, then I would hope for a fresh field day for innovative entrepreneurs. That's when the pressures of competition actually will pressure even greedy bastards in business to do things that benefit the common good. Capitalism is at its weakest when it becomes oligarchic, when a few entrenched companies have taken over the field, and may in fact be in collusion. That is how I see the oil industry today. Of course, oligarchic capitalists will try to hold on to their position, and use government to preserve their postiion. . The banking industry, with the "too big to fail" companies, which prevailed upon a Republican-dominated government to do the most socialistic thing our government has ever done, would be another example of oligarchic capitalism. It's my hope that acknowledging global warming might give a shot in the arm to democratic, as opposed to oligarchic capitalism.