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This. Also, the tweets complain about not having excess capacity due to the "obsession with return on investment", but that's really just an abstraction around
by makomk 5y ago
This. Also, the tweets complain about not having excess capacity due to the "obsession with return on investment", but that's really just an abstraction around the fact that extra capacity means using more limited real-world resources to supply people with the same amount of stuff - more land, more steel and concrete and construction labour and equipment to build the extra factory and shipping capacity that goes unused - which then can't be used for other things. The tweets frame it as though it's only finance types and investors that benefitted from this, but in reality everyone was better off in real, "what can I afford to buy with my money" terms due to it.
- JPKab 5y agoIndeed. It blows my mind how many intelligent, articulate, and privileged people in our modern society fail to realize how much their privilege insulates them from understanding the basics of supply and demand. Anyone who has ever worked on a factory floor, or a construction site, or even a kitchen (I doubt the tweeter has ever worked a job like this in their entire life) intuitively understands excess inventory as waste. They also intuitively understand that this waste translates to money needlessly spent earlier than it needed to be, or even worse, spent and then lost due to reality changing, demand shifts, etc. It really feels like a lot of these folks go to university, embrace a quasi-religious ideology where large companies are the devil and are therefore the root of all things bad, and profits are a sign of greed. Meanwhile, the douchenozzle is sitting there writing that tweet on a piece of electronics that was made possible by the things he's complaining about.