• Another Catgirl@lemmy.blahaj.zone
    link
    fedilink
    arrow-up
    0
    ·
    1 year ago

    I disagree that the free market is democratic because hedge funds and the richest people in our society control all of the “votes” in a free market, even after taxes. This can probably be blamed on capitalism, stock markets, and money-driven lobbying.

    • SneakyThunder@sh.itjust.works
      link
      fedilink
      arrow-up
      0
      ·
      1 year ago

      First of all lobbying and any other intrusion into fair competition is incompatible with free market.

      As for the “rich” — without government enforced monopolies, their wealth is a representation of how much value they provide to society. Which roughly translates into their support by society. A bit like representative democracy, but more decentralized.

      • rektdeckard@lemmy.world
        link
        fedilink
        arrow-up
        1
        ·
        1 year ago

        By that logic, thieves are virtuous and valued by society. In reality, the wealthy are creating value for themselves and their peers, and we operate on a system more like $1 = 1 vote, rather than 1 person = 1 vote. This system is usually called a plutocracy.

        • SneakyThunder@sh.itjust.works
          link
          fedilink
          arrow-up
          0
          ·
          1 year ago

          By that logic, thieves are virtuous and valued by society.

          Thieves are forced to return what they stole, they don’t (usually) accumulate capital

          In reality, the wealthy are creating value for themselves and their peers

          Could you please provide an example? Even something like Apple products (luxuries) are used by people that can’t be called rich. So it’s hard for me to understand how wealthy could create their separate economy