I didn't see this coming
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Even without an oligarchy, the ideal of free markets only works temporarily because in time you always get some group that pulls ahead of another and if that group is your enemy, the free market was never good for you.
And you need regulations. You need rules that corporations have to abide by. You cannot allow your nations economy to be taken over by foreign investors. If a corporation number one priority is maximizing profit and will fuck over everything in its path to achieve it it becomes a very big problem.
Just look at the train derailment in Ohio. This was directly the result of precision scheduled railroading. A profit maximizing method by the rail companies. Biden and congress actually stepped in to protect the rail companies from consequences when the rail workers tried to strike over this shit.
Profit maximizing no matter the cost is a cancer that will inevitably kill a nation.
Profit maximization without the right rules is problematic but profit maximization when the right rules are in place is ideal.
If the right rules are in place you won't even go for profit maximization. Profit for the sake of profit is the path of endless greed and will devour you in the end. Profit maximizing is only needed in a society where money is God.
Incorrect. If the right rules are in place you will maximize profit but doing so will be moral.
Also, enforcement is as important as having the rules.
Profits for people. Not the other way around.