What was so wrong with corporations running the economy?
Who can run the economy better, corporations or government?
Aren’t we a lot better off since most of their legislation has been repealed and corporations are back in charge?
They were progressives.
DTG
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March 16th, 2010 at 5:01 am
They were progressives.
DTG
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March 16th, 2010 at 5:10 am
Monopolies and trusts are dangerous to the free and open functioning of a market economy. They reduce or eliminate competition which is a key element in the proper functioning of a free market. In my opinion we are not better off with overly powerful corporations.
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March 16th, 2010 at 5:36 am
Even most rabid libertarians concede that monopolies are bad. A corporation that has bought out all it’s competitors has no incentive to offer a quality product or a fair price.
But by admitting monopolies are destructive, they undermine the pure free market ideal anyway.
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March 16th, 2010 at 6:04 am
Corporations running the economy is fine.
Trusts/Monopolies are very dangerous — because those corporations have to compete for the Capitalism to thrive. Otherwise price-fixing lets them get away with shoddy offerings leaving us without choices.
Similar actions have to be applied against Unions, though. Set up to maintain and increase the price of what their members are selling (their labor), the Unions are monopolistic trusts.
Unlike the corporations, they achieve their power not through superior quality and/or lower prices, but through bullying and racketeering.
Trust-busting and RICO laws should be applied to them now.
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March 16th, 2010 at 6:10 am
Trusts and monopolies have unfair advantages over other businesses trying to compete in the same space. Corporations, when allow to compete fairly, are more efficient at providing goods and services than are government agencies. But without competitors, monopolies have no reason to innovate or please customers. There’s no choice — consumers are stuck.
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March 16th, 2010 at 6:34 am
We are currently living the results of corporations running the economy. What is so wrong with our economy as it is? Hum, it does not seem to be working out so well for the average guy. We need healthy corporations and business, but we need government to be in charge of how powerful corporations become, or they only operate for their own benefit and average Americans get shafted. I would think that the condition of our economy is the best advertisement for legislation to regulate and control monopolies and corporate greed which is natural when left unchecked.
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March 16th, 2010 at 7:21 am
Large companies that had monopolies can control the market prices. Totally undermining the whole system of competition. Not fair to the others who would be shut out. Without competition they have no incentive to offer a better product or service. Just take it or leave it. As for letting companies run the economy you only need look to the devastation the bankers have done to the recent economy to see what will happen letting them go uncontrolled. GREED is their only driving force. Not decent business practices. Take health care as an example. Huge increases in premiums year after year. Billions in profits for the few while many are canceled and many more cannot afford the coverage without jobs. The average operating costs plus the profits is between 40 and 50%. Medicare runs on 1% margin. Better off ??? Only a very few who have taken billions for themselves. Let go like this it will totally eliminating the middle class and ergo the tax base we all pay.
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March 16th, 2010 at 7:43 am
Because of one company or group is the ONLY one selling, they will jack up the prices of what they sell (this is the OPPOSITE of how capitalism is supposed to work).
What’s wrong with greedy unscrupulous people running the economy? Well, one example would be that they nearly completely destroyed the entire world’s economy not too long ago. Greedy and unscrupulous people want to take everyone else’s money. Sane people understand why this is wrong.
Uh, better off? If you think having most families, businesses, and levels of government being bankrupt is better off, then I guess so. No one with any brain at all thinks that mass starvation constitute being "better off" but whatever floats your boat.
No, the economy was at its best off when we had a strong regulatory system. It was dismantling that system that made everything WORSE.
If you want to live in a country where 1% of the people own everything, and everyone else is starving to death, you should move to North Korea.
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