evlPanda said...
If you let Capitalism run wild, zero regulation, would you not end up with a monopoly? A single company running the country, effectively it would become the state. Everybody works for it and it owns everything.
...wait a minute. That's communism.
Perhaps but an anarchic capitalism would probably lead not to monopolies. Most monopolies develop because of rules and regulations stopping competitors from entering the market. There could be some exceptions, possibly the example of Eastern States Standard Oil, the Rockafellers or the Bell company that had to be broken up.
Even there I think competition and innovation would break up any monopoly.
A pure capitalist system cannot function unless individual property rights are respected and upheld by the law. Right now we have situations where property rights are not respected, for example miners demanding entry to private property to extract minerals and gas. This is due to apparently the Commonwealth owning all the mineral rights under the soil. It doesn't seem that right to me. If you own the land, you own the land and you should be allowed to decide who or who cannot enter it.