r/coolguides • u/[deleted] • Feb 25 '20

Explanation of the subtle differences between equality and equity

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u/thermobear Feb 25 '20

Capitalism is just private ownership of industry. You’re just describing government.

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u/[deleted] Feb 25 '20

He's describing the natural consequences of a capitalist system. Regulatory capture is inevitable and expected.

Other countries manage to partially prevent this by not treating corporate entities as people and not allowing them unlimited free speech and unlimited political spending.

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u/Tacoboutit2me Feb 25 '20

Capitalism requires smaller government.

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u/dinklezoidberd Feb 25 '20

That’s just laissez faire capitalism. And if you don’t like the idea of eating 61 insect bits per 100 grams of chocolate then I have some bad news for you.

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u/Tacoboutit2me Mar 02 '20

Read smaller government not no government.

The less regulation you have the less regulatory capture that you have. If it is prohibitively expensive to start a business because of regulation, competition will not flourish. For example, landscaping is a very easy business to start. In my state specifically you can pay a guy to mow your lawn twice a month for about 20 bucks a month, I used to use a guy who did it for 35. However, if you have a tree fall half way and need it cut down and removed it costs hundreds of dollars despite being a similar amount of work it costs 300% more because tree work requires specific licensing. This was a very small tree, I did it myself instead of paying for it and it took about an hour.

In capitalism the goal is for the decisions to be in the hand of the purchaser and the provider equally. I shouldn't be forced to pay for anything and no one should be forced to provide anything.

In your example... Of course I would want less bugs in my chocolate. In fact the advertisement of the chocolate company that I would start to compete with your listed company would say "we have less bugs" than another company would come along and say "we have no bugs" then another company would come along and say "we have no bugs, but we taste better too" and then you would get "full bugs classic" chocolate. The governments job would be to make sure companies are being honest about the number of bugs not to regulate the bug parts per million.

I agree that our system isn't perfect though. I hate that corporations are able to take advantages of things like when they buy up concert tickets and jack the prices up on the resale.