From Prof. Eliot Jacobson:
Wow! Wow! Wow!
North Atlantic sea surface temperature anomalies are going vertical again. And yes, I needed to extend the y-axis.
Yesterday’s temperature of 24.49°C (76.08°F) was 4.2σ above the 1991-2020 mean. The previous high for July 17 was 23.71°C (74.68°F) in 2020.
https://twitter.com/EliotJacobson/status/1681321023306874880
This isn’t the free market we imagined… it’s unregulated capitalism, to the point that smaller eco-friendly companies can’t compete. At this point the market isn’t free anymore.
It works as intended for the guys who own the politicians so its not getting fixed.
It never was. Remember, capitalism has to be regulated to work. Adam Smith even said so. Looking at you ancaps and libertarians.
According to Adam Smith, markets and trade are, in principle, good things—provided there is competition and a regulatory framework that prevents ruthless selfishness, greed and rapacity from leading to socially harmful outcomes.
Indeed. People almost invariably conflate capitalism with free markets, whereas those relatively independent properties.
We need to stop this rhetoric. This is what “free market capitalism” always devolves into. It is not Marxists who are utopians, it is capitalists who believe that this is not the natural end result of the accumulation of power and rise of corruption that is inherent to capitalism.