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The mom and pop are pushing their costs onto the rest of society, ie public money. We at least try not to let people starve in the street, and so provide gover
by scroot 8y ago
The mom and pop are pushing their costs onto the rest of society, ie public money. We at least try not to let people starve in the street, and so provide government services for the poor. The VCs, for all of the faults of that system, aren't.
- scarface74 8y agoAnd what happens when the VC funds lose money that they got from government run pension funds and the taxpayers have to make up the difference?
- scroot 8y agoWhat you're pointing out is definitely an important contradiction. Talking about "mom and pop" shops is a bit of a distraction -- a minimum wage gives even large companies an excuse to become some of the worst offenders, which, in part, contributes to the VC-style sytem. Take a company like Amazon. Up until recently, they were known for paying their own warehouse workers low or minimum wage and working them like dogs. This is a highly profitable company. What have highly profitable companies done with their profits, by and large, since 2009? Stock buybacks and other types of security investments. This increases the pool of money that can be used for speculation by the wealthy -- and VCs, who can then "speculate" and keep otherwise "non-viable" businesses afloat. So while I don't necessarily agree with what you say about the small shops, you do have a valid point. These are structural problems.