• theonlytruescotsman@sh.itjust.works
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        3 days ago

        If an entire industry is bankrupt, it is no longer needed and has been supplanted by a better industry. And that usually ends in lower prices. Tractors are way, way cheaper than oxen.

        • Skyrmir@lemmy.world
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          3 days ago

          The industry goes bankrupt because it can’t compete with a government producer that doesn’t pay taxes, leading to a government program running without competition, paid for by deficit funding.

          • theonlytruescotsman@sh.itjust.works
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            3 days ago

            If you’re a currency issuer then your government programs don’t run on any funding. They are allocated a maximum amount of new currency.

            But modern monetary theory aside, government competitors only eliminate shitty competition, not entire industries, unless those industries are themselves useless like the insurance industry.