this post was submitted on 25 Jan 2024
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Where did I say anything about not having guardrails/ regulation/ governance? I said that if the guardrails run counter to the underlying system's core tenets, that is indicative the tenets are bad, to wit:
That is Capitalism in a nutshell. Nothing within Capitalism as a doctrine calls for limits to be placed upon value-generation in favor of protecting people.
Contrast this to other systems, (even free market ones like Mutualism where regulation is not present) where an asymmetrical concentration of power is considered inimical or even contradictory to the system's tenets. Asymmetrical wealth and influence structures will always emerge even in those systems, but those systems are intended, from the ground up, to counter that, as opposed to Capitalism which intrinsically encourages and rewards that imbalance.