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Yeah and the problem is getting worse. sometimes it seems that even institutions are trying to maximize human pain. I thought of writing an economics book abou

Yeah and the problem is getting worse. sometimes it seems that even institutions are trying to maximize human pain. I thought of writing an economics book about this phenomenon. I have no idea how we can fix this problem and hope someone else can chime in

ssss11 4y ago
Individuals need better morals imo. The corporate entries of this works however do everything for the benefit of the share holder which isn’t always the right moral thing.
- permo-w 4y ago
  individuals can have all the morals they like. there are always going to be sociopaths and opportunists in this world, and corporations - and, as you point out, their shareholders - benefit from hiring them. the improvement must come from society as a whole. public organisation, whether that's government, or unions, or even charities, must have the balls to stand up to profit-mongering, and properly regulate this mess
permo-w 4y ago
the solutions are there, we implemented them in the post-war era, and they worked, massively reducing inequality until about the early to mid-1970s, where due to a number of reasons, lots of Western economies slowed down, especially the UK and the US, and the free-market Milton-Friedman-inspired right got into power and more or less has been since then. their policies creating overall growth, yes, but at the expense of wage growth and (after an initial bump from selling off public property) living standards. as a related aside, if someone ever tells you that taxes are at an all-time high so we must reduce them, take a look at the top marginal tax rates in the UK and US in the mid-60s. or corp tax back then the way to actually solve these problems was told to us by Keynes. the problem is that the political will is just not there. that's where we need a solution. how do you circumvent the capital-holding elite [to use a meaningless word]?
- grafly 4y ago

ssss11 4y ago

Individuals need better morals imo. The corporate entries of this works however do everything for the benefit of the share holder which isn’t always the right moral thing.

permo-w 4y ago
individuals can have all the morals they like. there are always going to be sociopaths and opportunists in this world, and corporations - and, as you point out, their shareholders - benefit from hiring them. the improvement must come from society as a whole. public organisation, whether that's government, or unions, or even charities, must have the balls to stand up to profit-mongering, and properly regulate this mess

permo-w 4y ago

the solutions are there, we implemented them in the post-war era, and they worked, massively reducing inequality until about the early to mid-1970s, where due to a number of reasons, lots of Western economies slowed down, especially the UK and the US, and the free-market Milton-Friedman-inspired right got into power and more or less has been since then. their policies creating overall growth, yes, but at the expense of wage growth and (after an initial bump from selling off public property) living standards. as a related aside, if someone ever tells you that taxes are at an all-time high so we must reduce them, take a look at the top marginal tax rates in the UK and US in the mid-60s. or corp tax back then the way to actually solve these problems was told to us by Keynes. the problem is that the political will is just not there. that's where we need a solution. how do you circumvent the capital-holding elite [to use a meaningless word]?

grafly 4y ago