Michael Matulef on Nostr: While private cronyism is a risk without a state, empowering coercive monopolies like ...

While private cronyism is a risk without a state, empowering coercive monopolies like a king or patriarch is not the solution. Decentralized, voluntary exchange remains ideal. Smaller firms competing in free markets are less prone to cronyism than gigantic corporations. The key is separating economy from state, eliminating the power to tax and coerce. This properly aligns incentives with serving customers rather than bureaucracy. Though no system is perfect, maximizing voluntary exchange and local control provides the best safeguards against the perverse incentives and systemic harms that come from coercive state power.