Video Post – Externalities – getting somebody else to pay for my production costs – the In Depth Capitalism series

Every company seeks to get someone else to pay for as many of its costs of doing business as possible. The laws of capitalism require this. If all of Stickles’ competitors are similarly avoiding the costs of disposing of their waste concrete they must do likewise. Otherwise their cost of doing business would be higher. In the short term their profits will be lower. In the longer term they will be forced out of business because they will have to charge higher prices. This is so regardless of the moral values or sense of community of the owners of F.H.Stickles. This how capitalism works. —>> read more –>>

Adam Smith discussed the harms caused by monopolies in the frequently, ritualistically cited book, The Wealth of Nations. The progressive politics of the end of the 19th century and into the beginning of the 20th was marked by a deep reaction to the monopolistic practices of large companies then. This —>> read more –>>

UPDATE: IBM does blockchain….Cryptocurrencies and blockchain technologies are subject to the same control by the rich and corporations as our existing financial and business sectors. These technologies are embedded in the socio-economic structures of capitalism. Concentrations of power dominate the existing capitalist world and they will dominate these new “disruptive” technology entrants. —>> read more –>>