| Dark_Lord_2008 said: Crony Capitalism exists where 1% of the world's population owns 80% of the world's wealth and assets. 99% must fight for the remaining 20%, around half of the world's population lives in dire poverty on less than $2 per day. Feudalism of the past is very similar to Capitalism: the lucky rich minority hold the majority of the wealth and the poor majority live on next to nothing. Monopolies do exist under Crony Capitalism the system that exists in the world. Laissez faire theory preaches the need for less corruption, more competition and no natural monopolies, sounds great in theory but does not work in practice. |
Laissez-faire only seems to work in an anarchic society from what I've observed. Otherwise, as long as there is a centralization of power there will be control over an economy, and consequently laisse-faire does not exist. That's why one only notices Anarcho-Capitalists promoting laissez-faire.







