The interesting thing is that the US isn’t actually a capitalistic system anymore.
In a capitalistic system, you have a few basic assumptions, such as companies competing against each other. The IT economy has proven the opposite: All the software development is carried out by 5 big companies, including Alphabet, Meta, Microsoft.
This lack of competition and concentration of development leads to an effective monopoly, which leads these companies to profit more than they would if they had to compete against other companies. That is one of the clearest examples of the deviation of the principle competition. That is why it is questionable to call the US a “capitalist system” nowadays.
You’re describing the necessary trajectory of capitalist systems as somehow not being capitalism. Competition naturally works its way towards monopolization, just because the US is in a later stage of capitalism does not mean that it is no longer capitalist.
To add to my own comment, you can see that the US is no longer a capitalistic system today in a second, clearer way: Trump.
Trump is actively harming the US economy by blocking free trade and blocking renewable-energy projects. That forces the US to pay more for energy, by buying fossil fuels. It is clear why trump is doing that: he is getting money (“lobbied”) from the fossil fuels industry, so they face less competition and can continue to sell their energy products for a higher price. If renewable energy could enter the market, all oil companies would face declining revenues in the next 10 years.
The fact that the US pays more for energy is clearly harming the US economy, because it makes manufacturing (which needs a lot of energy) more expensive. But that is a price that Trump is willing to pay.
It is to be noted that in a capitalist system, i.e. a free market, renewable energy would be built in the US today at a rapid pace, as it is the cheapest form of electricity in human history.
Trump responding to lobbying from some of the wealthiest capitalists is a pefectly capitalist thing to do. Capitalism is not “free markets,” a system is not capitalist if it has less government influence. The state in capitalism is under the control of capitalists, and plays an integral role in keeping said capitalists in power.
The interesting thing is that the US isn’t actually a capitalistic system anymore.
In a capitalistic system, you have a few basic assumptions, such as companies competing against each other. The IT economy has proven the opposite: All the software development is carried out by 5 big companies, including Alphabet, Meta, Microsoft.
This lack of competition and concentration of development leads to an effective monopoly, which leads these companies to profit more than they would if they had to compete against other companies. That is one of the clearest examples of the deviation of the principle competition. That is why it is questionable to call the US a “capitalist system” nowadays.
You’re describing the necessary trajectory of capitalist systems as somehow not being capitalism. Competition naturally works its way towards monopolization, just because the US is in a later stage of capitalism does not mean that it is no longer capitalist.
Right, yes, capitalism has nothing to do with capital. Checks out
To add to my own comment, you can see that the US is no longer a capitalistic system today in a second, clearer way: Trump.
Trump is actively harming the US economy by blocking free trade and blocking renewable-energy projects. That forces the US to pay more for energy, by buying fossil fuels. It is clear why trump is doing that: he is getting money (“lobbied”) from the fossil fuels industry, so they face less competition and can continue to sell their energy products for a higher price. If renewable energy could enter the market, all oil companies would face declining revenues in the next 10 years.
The fact that the US pays more for energy is clearly harming the US economy, because it makes manufacturing (which needs a lot of energy) more expensive. But that is a price that Trump is willing to pay.
It is to be noted that in a capitalist system, i.e. a free market, renewable energy would be built in the US today at a rapid pace, as it is the cheapest form of electricity in human history.
Trump responding to lobbying from some of the wealthiest capitalists is a pefectly capitalist thing to do. Capitalism is not “free markets,” a system is not capitalist if it has less government influence. The state in capitalism is under the control of capitalists, and plays an integral role in keeping said capitalists in power.