Economic predation by the powerful is not an economic system in any sophisticated sense, any more than organized bullies stealing every child’s lunch money the minute she enters the building is a “system” in any complex sense. It’s not even a “racket” if that term implies misdirection and a multi-step process. It’s just boots on the neck and hands in the pocket. Nor is such theft a “market” by any definition. It’s simply theft, backed by the power of the bullies themselves, their fists, their clubs, and the power of the state that enables them for a cut of the prize. – @mellojoe on Tumblr

Economic predation by the powerful is not an economic system in any sophisticated sense, any more than organized bullies stealing every child’s lunch money the minute she enters the building is a “system” in any complex sense. It’s not even a “racket” if that term implies misdirection and a multi-step process. It’s just boots on the neck and hands in the pocket. Nor is such theft a “market” by any definition. It’s simply theft, backed by the power of the bullies themselves, their fists, their clubs, and the power of the state that enables them for a cut of the prize.

Hullabaloo (via azspot)

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