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>No, the idea that aggregate performance... You're saying no, but our statements mean essentially the same thing. Aggregate performance rebounds to the benefit
by arkis22 9y ago
>No, the idea that aggregate performance...
You're saying no, but our statements mean essentially the same thing. Aggregate performance rebounds to the benefit of capital holders because they are outperforming. For example, it is better to save and lend than it is to borrow, which is why interest rates exist.
I'm not disagreeing that r > g can lead to greater inequality under capitalism. The reason you can have inequality under capitalism is because you have the opportunity for outperformance. I don't want to live somewhere that opportunity doesn't exist. You can if you'd like.
How can you say that it's a problem fundamental to capitalism when I can look through history and say these things without a doubt:
Socialism is the problem that turns aggregate prosperity into greater relative deprivation and narrow concentration of wealth.
Autocracy is the problem that turns aggregate prosperity into greater relative deprivation and narrow concentration of wealth.
Communism is the problem that turns aggregate prosperity into greater relative deprivation and narrow concentration of wealth.
Dictatorships are the problem that turns aggregate prosperity into greater relative deprivation and narrow concentration of wealth.
It's not a fundamental problem of capitalism, it's a fundamental problem of society.
By doing something to alleviate their immediate problems do you mean help them get clothes for a job interview? Point out a way for them to learn a skill to get a job? Locate a homeless shelter for them to spend the night? The longer you take to reform the system, the guiltier you should feel for not simply helping the person with a comparatively more immediate solution: micro actions. All of a sudden micro actions are meaningful.
Your suggestion for an action on how to deal with the inequality of capitalism is to adopt... not capitalism? I think you're lacking important details on how to turn that into an action.