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it seems to me no one wants to admit that society and the economy are set up in a way that we need people at the bottom. when the lowest classes attain even the
by sul_tasto 4y ago
it seems to me no one wants to admit that society and the economy are set up in a way that we need people at the bottom. when the lowest classes attain even the smallest increase in purchasing power, demand for goods and services soars and inflation soon follows. it’s pretty sobering. as to what’s to be done? i wish i knew.
- QuarterReptile 4y agoAn alternative reading is that the lowest classes are pretty stubbornly stuck in the 'scraping by' level of wealth, and inflation results from an increase in money supply, especially to the degree that the elevated money supply goes into circulation on routine spending. Our normal version of inflation is less crazy because it all goes into skyrocketing startup valuations and stock prices, trickles down from there into the real estate around centers of those activities, and so on in a loop with significant lag. Maybe a bit like taking the normally time-released drug of low interest rates, then crushing it and snorting it straight into the entire populace.
- MuffinFlavored 4y agoI guess I could move the goalposts and readjust the question to be, how many people do we need at the bottom? Is the answer 80% of society? And even then, I think the answer to that question would neglect the emotions and feelings of what it’s like to live a life at the bottom. How long can we, in a capitalist society, really expect 80% of the population to be OK with living what’s best summarizes a pretty shitty life?