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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (944732)	7/4/2016 9:39:24 PM
From: J_F_Shepard	Read Replies (1) \| Respond to of 1573691

Unde r which economic systems do you believe wealth doesn't concentrate? Wealth concentrates under all economic systems but the concentration occurs with the party or persons in power.......

To: i-node who wrote (944732)	7/5/2016 8:46:28 AM
From: combjelly	Read Replies (1) \| Respond to of 1573691

That's the point. There is no economic system that inherently guards against such. That is where government is needed. And it works. Look at the US economy in the post-Depression era. Wealth concentrations were at a historically low level until we started lifting the safeguards starting with the Reagan administration. Wealth concentrations started to immediately rise. As to monopolies, look at tech. Google, Amazon and many other tech markets are true monopolies or effective monopolies. Intel is a great example. When AMD was competitive, Intel manipulated the market to ensure their dominance. They even paid Dell to not use AMD parts to the point that Intel payments were the only reason Dell posted a profit for a number of years as revealed in one shareholder court case. In one case, HP rejected the offer of thousands of free CPUs because the percentage of computers shipped with Intel processors would have dipped below a set figure, triggering penalties that would have cost more than the value of the processors offered. None of this was legal and AMD eventually won awards against Intel, yet Intel has managed not to pay more than a decade later by manipulating the legal system. A clear case of wealth concentrations leading to an unfair and unfree market. Read Adam Smith. He gives a good breakdown of the subject.