3min chapter

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PoliEdPod 1: Marx and Political Economy (Introduction to Class Unity #1)

Class Unity

CHAPTER

The Perverse Incentives of Monopoly

capitalism incentivizes monopoly, which then actually diminishes the relative standard of life for everyone. Once you're able to charge whatever you want in the form of property, once you are able to charge just about whatever you want for what you're making, that's a bad thing. But it also creates the incentive of monopolies for entire countries. America essentially has monopoly on, you know, the dollar, which is the universal currency for the world. To further perverse that incentive, having that monopoly over the dollar incentivizes America to build the largest military because we have to protect that monopoly.

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