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I'm disputing the "culture" claim. The vast majority of people don't behave this way. Most people have a day job and live life on the weekend. Inflation forces
by maloney 11y ago
I'm disputing the "culture" claim. The vast majority of people don't behave this way. Most people have a day job and live life on the weekend. Inflation forces people to invest (usually in the stock market) to avoid losing the value of their money in the future. Whomever manages their money is going to try to get the best return. This cycle makes available vast amounts of capital to be invested in something.
This is a market reaction to inflation, with very little to do with culture.
- debacle 11y agoMost people are also not doing well financially. If you are not making money, you are losing money.
- lifeformed 11y agoI guess I'm not talking so much about the culture of everyday people, but rather the culture of companies and the people who run them. The "culture" aspect is that companies want growth for the sake of growth. Companies reinvest all their money so they can be bigger and get more money for their top stakeholders. What would an alternate culture look like? Maybe one where companies use their profits to enrich their existing employees lives, rather than use it to expand at a rate that keeps employee quality of life at the bare minimum, and executives at a maximum. Also maybe a culture where money is reinvested in the community, so the people and place you live in is enriched, rather than use that money to spread out like a virus and stamp your chain store in the middle of communities around the world (so that you can make more chains).
- eli_gottlieb 11y agoEmpirically-measured inflation has been near zero for almost a decade. It hasn't been high since the 1970s, if you're following the USD.