Is Capitalism "Pro-Business?"

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In this video, Professor Steve Horwitz advocates for free market economic policy. He refutes the often recited claim that "What is good for General Motors is good for America" by explaining that pro-business legislation encourages behavior that is not beneficial to society or the business itself. He suggests that, in a free market, factors such as profit and competition encourage behavior that ultimately benefits society. Professor Horwitz illustrates that pro-business legislation restricts progress and therefore caters to the interests of industry rather than to consumers, whereas "supporters of free markets are ultimately pro-human and pro-people because it is through markets that we get the most innovation and we get the most goods and the cheapest prices."

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[spol07]

There are no patent laws in a free market. Patent laws are created by the state.

Android is not going away, Apple sued Samsung not Google. 

[DarkKirbyBlade]

One of the main problems the U.S. is having is people are pushing for a society where competition shouldn't be necessary to have money, and there should be much less benefit to being competitive as wealth is distributed anyway, the goal being everyone has an easier life and money. But if wealth and competition is removed, nobody has an incentive to work, and there is no money to distribute. Communism is not a new idea, it has been tried many times, and failed an equal amount for the same reason.

[OllytheOl]

In a free market, American companies would be free to employ child labour or slaves in countries where such things are legal. Otherwise it' wouldn't be a free market, would it?

[OllytheOl]

Capitalism has failed many times. It creates a win-lose society, which is unsustainable, because the losers quite rightly decide at some point that they have had enough of the game.

So the state must force the losers to continue playing the game, using authoritarian measures and propaganda, or there is a revolution.

What we need is a win-win society - a win-win situation is the outcome of all successful negotiation.

What's the point of a society that doesn't benefit all its members?

[James Crawford]

they did pay it back with interest, look it up

[TVisPoison]

didn't the military develop computers until they were economically viable?

[X3C]

Bailouts basically tell big businesses "do whatever the hell you want, the rest of us will cover your expenses."

[Roxor128]

I thought the bailouts when the GFC hit were a terrible idea. I think the firms which received them should be made to pay them back, with interest.

[toaojackson7447]

same thing thats happening with Cosco now and people just call them "the good companies" it blew my mind to man

[RayZ fox]

The Walmart being for the increase in minimum wage blew my mind.

[Samir Katti]

That is a correction needed for all the malinvestments. The short term pain would have allowed the firms to come back stronger and healthier. What has happened now is these mal-investments haven't got corrected. The same policies implemented in early 2000 is being repeated. Instead of the big banks such as Goldman etc, its the Fed Reserve buying all the assets.