| ▲ | lumost 2 hours ago | |
The abstraction of capital and money get a bit funny when wealth is sufficiently concentrated. If there is a monopsomy (one buyer), then they can largely dictate the price of anything. If they also control violent coercion via a captured state or other means, then they can compel production at that price point. The idea of capitalism only really makes sense when wealth is reasonably distributed such that there is still reasonable competition in both the marketplace and control of the state. | ||