volinbham
VN GURU
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Same as your position. What's the difference? If we don't know how an unfettered market would perform, you don't know that a regulated market outperforms it. Your position is based on faith.
The underlying assumptions of the market system directly suggest that growth and scale in particular are key to profit maximization.
Likewise, we already see that some are capital accumulators while others are not.
Market systems directly encourage the seeking of competitive advantage which could come in any number of ways including outright removal/destruction of competition.
The forces of the market and capitalism directly incentivize capital accumulation and scope.
You only have to "win" customers when competition is robust yet the incentives of the market drive you towards reducing your competition. Regulatory frameworks (regardless of your opinion of them) act to limit the pathways to "eliminating" competition.
This is not faith - this establish theory on markets, capitalism and empirical evidence from history. Markets do not remain perfectly competitive. Disruptive innovation may reset sectors to this state (over a period of decades, generations) but the cycle repeats. Bottomline, in AnCap there will be continual times of non-free markets and all the associated problems that come with that.
I'm all for capitalism, free markets and limited government. Assuming the absence of government means free markets will remain perfectly free (perfect competition) is fantasy.