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 Originally Posted by boost
Why do you think a more refined capitalism is towards a pure free market on the spectrum? This seems like a convenient assumption made by libertarians and the like: everything good that has happened in society in the past few centuries is due to the free market elements; everything bad is due to not being far enough on the path to free marketopia.
Earlier I said both free market and cooperative. But the main reason why free market over state capitalism when economies are more dynamic is something history has played out. Like a previous example I made, Japan increased its dynamism through state capitalism, but in the face of increased competition, it has been unable to keep growing due to lack of free market capitalism. China is similar except instead of sticking with just state capitalism, it is introducing free market elements when it can.
Look at it this way: what would better create the internet, private businesses or the government? The answer is the government. But what would better innovate the internet, private businesses or the government? The answer is private business. We have seen this exact thing play out in our society. Generally speaking, state capitalism creates entirely new things well (things where there would be no incentive for private interests), but private businesses innovate those things well. As the economy becomes more and more dynamic and as private wealth hubs increase, we see more private interests engage in original creation, like Elon Musk with SpaceX.
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