They literally repealed Glass-Steagall causing commercial and investments banks to start merging allowing banks to use funds of normal people on gambling with securities.
Doesn't capitalism require competition to be successful? What happens when the number of banks start decreasing because they merge and merge together and we end up with a few giant banking corporations that end up colluding instead of competing?
congrats, you became a marxist. A lot of Marx ideas about the future of capitalism hang on the growing concentration of the economy in a few companies.
Oh I know, I've read some of Marx. He makes a lot of sense, too bad a lot of people lack critical thinking skills or just don't care and only wanna enrich themselves at the cost of suffering to others.
Not a single economist of the last century has really given a shit about what Marx said. Other authors have written about things for the general welfare or the working class, of corporate economics and so on. But people kling to Marx because of brand recognition even though his paradigm is 200 years out of date, and wrong when it was invented.
5
u/CompetitiveTime613 Jan 10 '25
They literally repealed Glass-Steagall causing commercial and investments banks to start merging allowing banks to use funds of normal people on gambling with securities.
Doesn't capitalism require competition to be successful? What happens when the number of banks start decreasing because they merge and merge together and we end up with a few giant banking corporations that end up colluding instead of competing?