This is just a blog comment. I believe that classical theories of capitalism and its evolution as a natural selector of the best producers and inventors don't include politics and the effect of capitalism on political freedom and self-determination by the electorate. In theory the demos is free and not controlled by capital. In practice, capital increasingly controls the demos.
The electorate in theory, within a democracy, have equal votes and equal power to determine issues values and select with poltical support and votes the issues that are best. Concentrated wealth and capital especially today nulifies the value of votes with its power and influence. In turn, the expropriation of political power by concentrated wealth supports less intense competition in capital acquisition and the concentration of ownership of capital.
A free market works best if buyer-consumers are free politically and can make uncoerced choices from the market. Market choices are reduced as wealth is concentrated and destructive competition is eliminated from the network of market producers.
Today too many people regard all concentrated wealth as supportive of the political philosophy of capitalism and have little capacity to discern the fact that capital or wealth can be held by those that do not support a maximized or even minimal free market.
The electorate in theory, within a democracy, have equal votes and equal power to determine issues values and select with poltical support and votes the issues that are best. Concentrated wealth and capital especially today nulifies the value of votes with its power and influence. In turn, the expropriation of political power by concentrated wealth supports less intense competition in capital acquisition and the concentration of ownership of capital.
A free market works best if buyer-consumers are free politically and can make uncoerced choices from the market. Market choices are reduced as wealth is concentrated and destructive competition is eliminated from the network of market producers.
Today too many people regard all concentrated wealth as supportive of the political philosophy of capitalism and have little capacity to discern the fact that capital or wealth can be held by those that do not support a maximized or even minimal free market.
