Friday, August 21, 2020
Big Tech, Monopoly and the Pretense of Capitalism
All those who believe the 'privatized totalitarianism' of Big Tech 'platform plantations' are 'capitalism' have been brainwashed into servitude by Big Tech's pretense of capitalism.
What do you call an economy of monopolies without competition or any regulatory restraints? An economy of monopolies that control both the buying and selling in the markets they control? Monopolies with the power to commit legalized fraud and the profits to buy political influence? Monopolies whose black box algorithms are all-powerful but completely opaque to public scrutiny?
Call it whatever you want, but it certainly isn't Capitalism, which requires competition and market transparency to price capital, labor, risk, credit, goods, services, etc.
Black Box Monopoly is the death of Capitalism as it eliminates competition and market transparency.
http://charleshughsmith.blogspot.com/2020/08/big-tech-monopoly-and-pretense-of.html?m=1
