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But the point is that increasing it does not improve life for everyone, only those at the top. The idea of "trickle down" economics is a (frankly laughable) fal
by danparsonson 5y ago
But the point is that increasing it does not improve life for everyone, only those at the top. The idea of "trickle down" economics is a (frankly laughable) fallacy.
- FeepingCreature 5y agoRight, but isn't that the problem then, not "growth" per se? If fulfilling the interests of the rich needs growth, surely fulfilling the interests of everyone will need even more growth.
- danparsonson 5y agoWell no, because the interests of the rich are never fulfilled, they just scale accordingly. Capitalism isn't a collaboration, it's a competition.
- FeepingCreature 5y agoI don't think our economic growth is driven by yachts and mansions.
- danparsonson 5y agoNo it's driven by the desire for yachts and mansions - otherwise why the need for infinite growth? Nobody needs billions or even millions of dollars to live a good life.
- FeepingCreature 5y agoIf desire for yachts and mansions is what drives people to create value for the rest of us, isn't this the system working exactly as intended?
- danparsonson 5y agoFor those at the top, yes the system is absolutely working as intended, and they do their level best to keep it that way. The problem is that the system itself has some serious drawbacks and that's what the original article is about. Most of the 'created value' you mention is created as a side effect of the quest for wealth (and on a very related note, power) but for most people on Earth doesn't come close to compensating for the created costs (which can largely be avoided by the wealthy). Did you actually read the article? It's all explained there much more eloquently than I could do it.