Realistically speaking, is this not a more apt description of “actually existing capitalism” than the idyllic Randian kind pushed by the “vulgar libertarians”?
“A “choice” between:
> Scumbags R’ Us
> Criminals Incorporated
> The Devil Himself Ltd.
> Worldwide Sociopathic Enterprises, LLC.
> Evil Scum Industries
> Ted Bundy’s Spawn Corporation”
“Libertarians argue that if you are a consumer and some business is screwing you via their product, you can simply vote with your wallet and take your business to a more consumer-friendly business. If enough consumers are angry at consumer-hostile businesses in some industry, consumer-friendly businesses will spring up to lasso all of that demand. Consumers will flock to the consumer-friendly businesses and abandon the consumer-hostile ones.”
“Problem is it doesn’t happen. Instead you get whole industries where all of the businesses, or maybe 95% of them, are fraudulent ripoffs run by the scum of the Earth. Where are you supposed to go? In many industries, it seems that the worst, most consumer-hostile businesses drive out the better, more consumer-friendly ones, presumably because the more you rip off and screw the consumer, the more money you make. And this doesn’t work in industries where every business is run by a crook.”
I am not saying that all corporations are evil. Personally I think there are many good businesses in the US and elsewhere. But you end up with the diabolical list above when you refuse to regulate an industry. Look at the Internet. Totally unregulated. A very large % of for-pay Internet sites are apparently run by criminals. I have never seen so many criminal businesses as I have seen on the Internet. Obviously there is nothing inherent about the Net that causes criminals to flock to it to run their ugly enterprises. So many Net businesses are evil because the Net is totally unregulated. The % of raw, naked fraudulent businesses on the Net would blow you away.
Categories: Economics/Class Relations