The driving force behind the stakeholder capitalism philosophy is precisely that it creates opportunities for political actors to assert disproportionate control over the economy’s resources.
Centrally planned economies often stick with terrible ideas for many years. But markets can take bad products, learn from them, and turn them into great products that give the public what it wants and needs.
The concern over concentrated influence of corporate special interests is valid, but not because corporate special interests will prevent economic regulation. The problem is corporate executives consistently agitate for more government control.
If business owners were hoping to catch a break in 2021 after having been completely victimized by government lockdown procedures and left-wing rioting, they may want to brace themselves for more pain as the Biden administration gets going.
To spread the benefits of goods and services, we must first spread the mindset needed to take on the task of producing goods and services. That is, the mindset of entrepreneurship.
Some anticapitalists have tried to claim "good" entrepreneurs don't make profit the primary goal. Yet, without profit, an entrepreneur cannot serve the people who depend on him or her for goods and services.
Anti-price gouging laws mean that those who really end up getting the short end of the stick are those who don't have the time or the means to beat the crowds to the store. Worse off are those of lesser means who rely on public transportation or walking to transport groceries home.
Governments that hamper entrepreneurship certainly damage it in the near term. But these measures destroy the conditions necessary for innovation and entrepreneurship in the future as well.
Everything you learned from family dinner conversations and your culture served to build your human capital. Across the globe, the people of various regions cultivate certain skills that enable individuals to consider entrepreneurship as a viable choice of work.
