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In your view, what happens to the people when business and capital fail?
by corey_moncure 7y ago
In your view, what happens to the people when business and capital fail?
- cbayram 7y agoTemporary ripples, but mainly not much. What happens? Opportunities for people and local geographies, innovation. Words of Nassim Nicholas Taleb ring in my head. Failure is healthy to the overall health of a system. When you hide risk and prop up failure, it blows up spectacularly. Never has there been so many bureaucrats benefiting from the benefit of the true harbingers of innovation.
- pdkl95 7y agoThey turn to populist leaders for help. Usually this means some variation of either socialism or fascism.
- grive 7y agoThe business disappears, people turn to a competitor or create new ones if the need is still there. Business are allowed to fail, that's healthy for the overall system.
- Ididntdothis 7y agoYou are presenting an extreme. Business and capital will not fail if there is more emphasis on the people. We won't turn into Venezuela or communist Russia if business doesn't get 100% its way.
- Pfhreak 7y agoThe same thing that's been happening for thousands of years -- we adapt. We gather together and support each other. Capitalism wasn't the dominant mode for most of human history, and Neoliberal capitalism especially so (coming to prominence in the US in the 70s). There are other ways to organize work/workers, for example into workers co-ops which have been shown to be efficient even at scales of billions of dollars of annual revenue.