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Although it has been a long-established practice for the private sector to feed off the state’s initial investment in product development and innovation (Schumpeter 1943; Reich 2007; Mazzucato 2013), a peculiarity of the new form of capitalism is that public authority handpicks the companies on which to bestow this privilege. This results in the deliberate creation by the state of market monopolies. This, however, dramatically alters the distribution between opportunities and risks, as opportunities for wealth creation are actively aggregated to those economic actors who already have an advantage in the globally integrated markets, while risks are offloaded to the weakest players.
Capitalism on Edge
Albena Azmanova;
The impediment to action advances action. What stands in the way becomes the way.
Meditations
Marcus Aurelius
it is significant that the Sumerian word amargi, the first recorded word for “freedom” in any known human language, literally means “return to mother”—since this is what freed debt-peons were finally allowed to do.
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