Philosophically speaking, I favor capitalism over other economic systems. The free market is a beautiful thing. When operating as it should, consumers are free to choose the companies and people they want to do business with. Those entities that provide the most value to consumers are rewarded, and those that don’t go out of business.
I also favor smaller government, particularly at the federal level. When the government regulates marketplaces, they alter the playing field. Their actions can significantly disrupt a market and determine the winners, even when not intended. When this happens, consumers are usually the ones who lose.
Unfortunately, my philosophical views don’t always work out for the best. There is a dark side to capitalism. There are times when unchecked capitalism is not in the public interest. In extreme scenarios, it can bring harm to the public. It can concentrate wealth among the rich through the exploitation and transfer of wealth from the public domain.
Allow me to explain.
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