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But it doesn't increase everyone's wealth equally... What's worse is that it doesn't even increase everyone's wealth in a fair way. It does not reward value cre
by jondubois 8y ago
But it doesn't increase everyone's wealth equally... What's worse is that it doesn't even increase everyone's wealth in a fair way. It does not reward value creation. It rewards rent seeking (value capturing). It's not about who can create value in the most efficient way; it's about which corporation has the most friends in government and can get the biggest contracts.
- novalis78 8y agoSo then debt and IOUs as obligation for some future work that’s due re-introduces a feudal system with fancy language. Suddenly people have to work longer and harder to maintain the same living standards while their wealth gets expropriated and via crony government relationships of particularly well established lobbying industries runs into to pockets of a minority that’s not necessarily engaged in generating true value for the public. Sounds like ‘systemic’ Feudalism.