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> From what I've seen, there are a lot of right-wing people in tech circles expressing a support for capitalism. However, very few of these people know or care
by tachyonbeam 5y ago
> From what I've seen, there are a lot of right-wing people in tech circles expressing a support for capitalism. However, very few of these people know or care how the economy works.
Fair point. Most people don't know or care how the economy works, left or right. My main point was: it's to your advantage to know how the system works, and it's maybe even more important to understand how it works if you hope to change it.
If you don't understand what is inflation and its impact, or basic economics, then politicians can take advantage of your lack of knowledge, in the same way a shady car mechanic can take advantage of uninformed customers. They might pretend that certain policies will help lower-income people when what they are doing is most beneficial to the ultra-rich.
- dragonwriter 5y ago> They might pretend that certain policies will help lower-income people when what they are doing is most beneficial to the ultra-rich. Sure, like, for instance, they might pretend that reducing fiscal stimulus that both redistributes wealth downward and fuels inflation (but does the former more than the latter) helps the lower-income by reducing inflation when it really lowers their real post-transfer income while raising it for those in the higher income classes that benefit less or not at all from the transfer but are still effected by price levels.