Oddbean new post about login | logout I’ve read plenty of Austrian economics. I know how capitalism works. It’s much like the American Constitution, either it failed to prevent State corruption or it enabled it. I believe in free markets, that’s why I spread ideology and not legislation. You would be wise to research who creates the “barriers to entry” in modern global economies.
And yet you think at will employees are being stolen from? Doesn’t sound the Austrians teachings landed Capitalism is not legislation Even if you don’t like capitalism the alternative is not respecting property rights, which is a no go obviously. Your beef is not with capitalism (what happens when people can own stuff). Your beef is with the state giving preferential treatment to some business also known as cronyism. Or with the decay of morality brought about by the state destroying the nuclear family and religion The state didn’t create capitalism in case that was not clear
“Capitalism is not legislation “ that seriously is no where near historically accurate. You mean to tell me that not legislation has ever been enacted for “profit” of a company, group of individuals, or sector of the economy? Here is a real stick in the wheel…capitalism can also be its own religion.
Yes, the state can pick winners and losers. Cronyism is bad, no one is arguing to the contrary. However, that does not invalidate the merits of capitalism. Most people don’t fundamentally understand what capitalism is or why it’s the system that leads to the most prosperity and is morally superior. They just see Google paying the state to give them special privileges and cry capitalism is evils and broken. They are fighting a straw man the same way you seem to be. But we can agree to disagree