this post was submitted on 07 Feb 2025
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Exactly, capitalism ends up being just a handful of monopolies owned by the oligarchs as opposed to state owned companies owned by the public.
The part a lot of people don't seem to understand is that capitalism is a dynamic system that evolves over time. My favorite illustration of this is the game of monopoly, everyone one starts with the exact same opportunity, and at the end all the capital will be in the hands of a single player through the mechanics of the game. That's precisely what we see happening with capitalism in real life. Competition, which is the engine of the system, ensures that some companies win and grow, while others lose. As companies become bigger, they gain brand recognition, leverage economies of scale, and so on, making it unprofitable to try and compete with them.