RE: Capitalism: Is it Working?
June 7, 2013 at 2:59 pm
(This post was last modified: June 7, 2013 at 3:01 pm by Mister Agenda.)
Because it's an attempt to bypass competition by out-producing, out-selling, or otherwise providing something your competitors can't provide as well as you. The part of capitalism where it allocates resources efficiently? That is reduced when political favoritism is involved, whether it's a king or the more influential businesses themselves that institigate it. It's the cost of a reduction of efficiency without a corresponding desireable good to society that's worth the loss.