Ignore the ‘pro-business’ rhetoric: a pro-rich government is anti-business

The examples you gave were all created in regulated markets. Indeed, your first three could not have even existed without regulation and government investment.

I don't understand your argument. They would not have existed? That is such a weird thing to say. On what basis can you make such a wild claim?

If you want to look at what actually happens with unregulated free markets you need to look at companies like The East India Company

Are you just trolling? The East India Company was a government granted monopoly. Where did you learn your history from?

21st century companies have no bearing on this discussion because they are the products of a regulated market, not an exception to it. We have to compare apples to apples.

You're confused on the relationship between government and markets. Markets do not exist because of government. They exist outside of government and government interferes with it. That is why there are certain economic forces that act even in the face of government intervention like price controls. If you eliminated all steel tarriffs tomorrow - would there still be a market for steel? Of course.

Your examples of an "unregulated" company makes zero sense when you have to go all the way back to when there wasn't even capitalism but mercantilism.

You can limit the influence that companies have on politics so that regulatory capture is much more difficult if not impossible.

No you can't. If you pass regulations that could cost an industry $10 billion (for example), how much would they be willing to spend to stop that regulation from passing? Theoretically, $9.99 billion. It is about incentives. Regulation creates power where there was none and distorts incentives. I am not saying all regulation is bad, but you have to understand that it creates a power in government that can be captured and influenced.

The US has taken a turn completely the other way in the name of "free markets"

The US is highly - highly regulated. Again, I don't know where you're getting your facts from.

has allowed unlimited corporate spending on politics which encourages regulatory capture.

That is the symptom and not the disease. As long as there is something worth buying, there will be lobbying and donations. If the government tomorrow passed a law that left the Steel industry completely unregulated - who would the Steel Industry lobby? Why would they lobby? They would be at the mercy of the market. The only reason they would lobby would be to get the regulations back!

It also saw the greatest increase in human suffering.

Complete and utter nonsense. You're certainly a troll now. Any objective economic statistic can prove to you that the real incomes of the common man never rose faster.

The poor almost all died.

You are either ignorant or a troll or both.

It taught us that markets MUST be regulated because the alternative was horror. It is because of the lessons learned from the horrors of the industrial revolution that we have regulated markets in the first place.

I'm sorry, you're too far gone.

/r/Economics Thread Link - theguardian.com