The greed is baked into capitalism, though, because it’s fundamentally baked into humanity. This is what happens with the unregulated pursuit self interest, and that’s what capitalism encourages.
Because markets inherently aren’t “free”. Real competition is an illusion because capitalism doesn’t account for all the non-capitalist levers (e.g regulatory capture, cronyism, collusion, political lobbying, etc) that businesses will pull to serve their own interests.
Capitalism is an incredibly naive approach to economics because its ability to account for human behavior – the fundamental driver of economic systems – is rudimentary at best. And that’s just one of its problems, really.
The greed is baked into capitalism, though, because it’s fundamentally baked into humanity. This is what happens with the unregulated pursuit self interest, and that’s what capitalism encourages.
Because markets inherently aren’t “free”. Real competition is an illusion because capitalism doesn’t account for all the non-capitalist levers (e.g regulatory capture, cronyism, collusion, political lobbying, etc) that businesses will pull to serve their own interests.
Capitalism is an incredibly naive approach to economics because its ability to account for human behavior – the fundamental driver of economic systems – is rudimentary at best. And that’s just one of its problems, really.