4 ms·
"Common Prosperity" is a marketing label to try to legitimize persecution of high tech billionaires who own platforms whose success/failure could destabilize th
by danrocks 5y ago
"Common Prosperity" is a marketing label to try to legitimize persecution of high tech billionaires who own platforms whose success/failure could destabilize the government. All of the major Chinese tech companies have created "Common Prosperity" funds now, which are essentially direct money transfers to the CCP for it to implement whatever agenda they have at the moment.
- deleted 5y ago[deleted]
- fxtentacle 5y ago"persecution of billionaires whose success/failure could destabilize the government" sounds like a very reasonable policy to me. After all, isn't the promise of triple down effects to share the prosperity to all one of the core ideas of why society as a whole accepts the existence of billionaires? At the very least, they shouldn't make things worse.
- pydry 5y agoIt's historically sound. The US and Japan followed a variant of this policy in the 1950s and it led to an explosion of growth.
- hakfoo 5y agoFundamentally, that seems like common sense. Government's utility and legitimacy is powered by its own mass and influence in society. Many states have done a very poor job of securing that position. If you start to get individuals and businesses so wealthy or influential that they can make the state quiver, eventually the government's mandates are at risk. Can it effectively regulate businesses that are too big to fail? Does it maintain the monopoly on violence if the wealthy can DoS the legal system to escape prosecution for their wrongdoings?