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> "Service industry" includes financial services, which have been hugely lucrative to the West. If you buy into the philosophy that it is something other than
by _pmf_ 10y ago
> "Service industry" includes financial services, which have been hugely lucrative to the West.
If you buy into the philosophy that it is something other than an elaborate global Ponzi scheme.
- digi_owl 10y agoOl' Marx saw capitalism as a 3 way standoff between workers, industrial capitalists, and financial capitalists. And he lamented that while the industrial capitalists would in the long run be better off siding with the workers, they would invariably side with financial capitalists until it was too late.
- piva00 10y agoWhy not go a little further and call it a structured asset-backed Ponzi scheme? It sounds more daunting, novelty and official.