6 ms·
You're right, the problem with American capitalism is that people with wealth don't have enough of an advantage in business /s
by jrs95 6y ago
You're right, the problem with American capitalism is that people with wealth don't have enough of an advantage in business
/s
- XMPPwocky 6y agoSorry if I wasn't clear- would you mind explaining how you got that from what I said?
- jrs95 6y ago"Didn't save up? You lose your business. Either it goes under or you sell it at fire-sale prices to somebody who has the assets to keep it afloat until things stabilize (possibly the government)." In this scenario a wealthy person who owns a business can simply keep their business afloat with their personal money, whereas someone with a more modest financial situation would go bankrupt and be forced to sell at pennies on the dollar to...someone who happens to be sitting on a pile of cash. That clearly leads to a consolidation of capital in the hands of the wealthiest people, which most people would consider to be a bad thing. Plus, more rural communities in general are a lot more dependent on middle class small business owners, many of whom are likely already struggling even before a crisis do to a stagnating local economy.