Does Capitalism Inevitably Produce Inequalities?

[Deny and Shred]

76. Semantics really.

I agree, that is how it functions best. A chicken and egg kind of thing.

I was referring to the tendency for dominant firms to emerge and for them to engage in profit maximization (most economists have been taught to calculate the profit box, high prices be damned), to erect barriers of entry, to expand economies of scale, to try to crush all competition fairly and unfairly, to handsomely endorse candidates to lower their taxes and leagalize their dirtiest and sleaziest practices, among many other activities that are anathema to Adam Smith's view. Once successful, we can owe the result to capitalism, whatever we call it - monopoly, oligarchy, corpotocracy, etc.

US doctrine yearns to equate capitalism and meritocracy: the rich have earned it and you haven't.

Corporate gains through consolidation and increased productivity (which exploded as the net improved a myriad of business systems) have gone to the very top, not to be shared with regular employees. Enormous concentrations of wealth today, and it is looking for the best return. TPP/TISA is the logical extension.