Response to ‘On monopolies’

As if writing from a dusty pre-1970s economic textbook, the author [Tristan de Liège] acts as if Occupy never happened and as if Ayn Rand’s ideology has never been challenged. His lack of perspective and curiosity about conflicts within economic theory is truly disappointing, especially in a student paper.

Restricting his discussion of monopolies to discredited and abstract theory about non-existent laissez-faire capitalism, de Liège misses the point that most corporations are recipients of massive government subsidy and protection, not including the free and cheap research they receive through public universities like UC Davis.

People mistrust massive profits because they are grounded in relentless corruption and fraudulent financialization; epic crimes which result in wrist slap fines, no jail terms and promotions to the next job, government or academic position. People mistrust corporations because without environmental and labor regulations there is no limit to the violence and exploitation they will enact (and deny), and no limit to the legal and extra-legal government influence that they will purchase in pursuit of ever maximizing wealth, wealth disparity and environmental degradation. And what is the capitalist position on war, torture and slavery? Profit, profit, profit.

Keith Hennessy
Ph.D. Candidate, performance studies

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