Knowing this, we ought to design an economic system accordingly!
The inevitable concentration of power should be out in the open, broadly consented to, and held accountable. We could call it "government".
Instead, in the most "anarchic" corners of capitalism we have "shadow governments" where power is tightly concentrated and undemocratic, but it's okay because "if you can't see it, it doesn't exist". Insurance giants, tech giants, finance giants, etc.
Edward Bernays was writing about this exact phenomenon 100 years ago (Propaganda).
The inevitable concentration of power should be out in the open, broadly consented to, and held accountable. We could call it "government".
Instead, in the most "anarchic" corners of capitalism we have "shadow governments" where power is tightly concentrated and undemocratic, but it's okay because "if you can't see it, it doesn't exist". Insurance giants, tech giants, finance giants, etc.
Edward Bernays was writing about this exact phenomenon 100 years ago (Propaganda).