Steve Randy Waldman on Nostr: I favor competitive capitalism. But incumbent winners — currently dominant firm, ...

I favor competitive capitalism. But incumbent winners — currently dominant firm, the richest existing people — hate it. They pretend to love it, of course, because it is the basis for the legitimacy of their wealth. But if you're already at the tippy-top, that "dynamism" we all extol has only one direction for you, regression to the mean. It is in your interest to consolidate advantage, not level the playing field. 2/