3 ms·

Wealth redistribution. There's already plenty for everyone, it's just distributed in a way where the top class of people has cash to burn on bored apes, yachts

Wealth redistribution. There's already plenty for everyone, it's just distributed in a way where the top class of people has cash to burn on bored apes, yachts and thousand dollar white tee shirts. The poor work for scraps. We needed growth when no one had anything. That's not the world we live in today. Let's start recirculating that money instead of leaving it in people's treasure hoards. Edit: I also want to say that growth will never lift all of the poor out of poverty. Poor is a relative term. If all prices target the median earner say, they will keep rising faster than the lowest incomes do and the poor will never catch up. We need a smaller spread of wealth to keep things affordable.

imtringued 4y ago
I have read some Marxist books and everytime I read their proposed solutions I shake my head. How can anyone be so misguided? Of course, the reason why Marx is popular is that his criticism of capitalism is actually very close to the truth. Capitalists produce for the sake of profit. No profit means no production. Market economies try to optimize profits to 0%. Thus, capitalists will simply stop producing well before the market is being served. This is why farmers need subsidies from the government. They would try to keep a small fraction of the population under the threat of starvation to maintain high enough profits to justify private production. So poverty is actually considered a non problem. Anyone who has to go without their basic needs being met is there to increase profitability and justify further growth. Now, one should ask oneself. If markets exist to eliminate profits where are these hyper competitive industries that threaten to eat up/shut down your corporation if your profit is too low? Why doesn't their profit shrink to zero as one would expect? As mentioned above, extortion is a very easy way to maintain high profits. No entirely voluntary economic transaction can compete with extortion in terms of profit. So any capitalist economy with too many products will actually get worse than if there was a slight shortage of products. This is because the entire economy will shift towards extortive industries. Every industry will adopt a certain amount nastiness to stay competitive. Industries will try to consolidate into monopolies because they allow a greater degree of extortion.

imtringued 4y ago

I have read some Marxist books and everytime I read their proposed solutions I shake my head. How can anyone be so misguided? Of course, the reason why Marx is popular is that his criticism of capitalism is actually very close to the truth. Capitalists produce for the sake of profit. No profit means no production. Market economies try to optimize profits to 0%. Thus, capitalists will simply stop producing well before the market is being served. This is why farmers need subsidies from the government. They would try to keep a small fraction of the population under the threat of starvation to maintain high enough profits to justify private production. So poverty is actually considered a non problem. Anyone who has to go without their basic needs being met is there to increase profitability and justify further growth. Now, one should ask oneself. If markets exist to eliminate profits where are these hyper competitive industries that threaten to eat up/shut down your corporation if your profit is too low? Why doesn't their profit shrink to zero as one would expect? As mentioned above, extortion is a very easy way to maintain high profits. No entirely voluntary economic transaction can compete with extortion in terms of profit. So any capitalist economy with too many products will actually get worse than if there was a slight shortage of products. This is because the entire economy will shift towards extortive industries. Every industry will adopt a certain amount nastiness to stay competitive. Industries will try to consolidate into monopolies because they allow a greater degree of extortion.