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They are ignorant on how to fix the global economy. Want to remove capitalism for communism where everyone owns nothing and likes it. AI and robots will do the

They are ignorant on how to fix the global economy. Want to remove capitalism for communism where everyone owns nothing and likes it. AI and robots will do the work while we sit at home with a basic income.

zach_garwood 4y ago
I'm highly doubtful that billionaires want to do away with capitalism.
- findalex 4y ago
  Capitalism has nothing to say about massive government contracts and subsidies following to these people from tax payer pockets.
- cykros 4y ago
  Most billionaires are terrified of unrestrained capitalism; they got where they were via government subsidies, regulatory lock-in, or simply measures came about at a time when they were big enough to afford regulations and their startup competitors could not. Not that I'd completely advocate for taking the gloves off completely -- at some point, unrestrained capitalism has a tendency to devolve into absolute feudalism, unless certain non-aggression principles are adhered to. But in either case, you'd have fewer billionaires.
Bender 4y ago
For what it's worth, capitalism and communism are entirely orthogonal. China for example is simultaneously a communist government at the moment whilst also being one of the biggest capitalistic nations. Capitalism is a form of monetarism whereas communism is a form of governance.
- PaulDavisThe1st 4y ago
  Communism is only partially a form of governance. Conceptually it also describes the ownership of the means of production. If the people own the means of production, then the preferential distribution of profit to capital becomes non-sensical, and thus there is no capitalism. China is a strange hybrid, that is neither fully communist, nor "fully" capitalist (in the sense of, say, the USA). This is what allows aspects of both systems to co-exist.
  - LinuxBender 4y ago
    I completely agree. Each nation has it's own flavor of monetarism and governance that results in a unique outcome with varying degrees of real time control. China have more arbitrary control over business that results in greater real time arbitrary stipulation of monetary outcome. Governance over business is less arbitrary and more predictable in the USA, most of the time anyway.
  - flenserboy 4y ago
    State Capitalism.
  - snoot 4y ago
    > China is a strange hybrid, that is neither fully communist, nor "fully" capitalist Typically this ‘strange hybrid’, where the people serve an authoritarian state which exerts arbitrary power over ostensibly capitalist industry, is referred to by the term, ‘fascism’.

zach_garwood 4y ago

I'm highly doubtful that billionaires want to do away with capitalism.

findalex 4y ago
Capitalism has nothing to say about massive government contracts and subsidies following to these people from tax payer pockets.
cykros 4y ago
Most billionaires are terrified of unrestrained capitalism; they got where they were via government subsidies, regulatory lock-in, or simply measures came about at a time when they were big enough to afford regulations and their startup competitors could not. Not that I'd completely advocate for taking the gloves off completely -- at some point, unrestrained capitalism has a tendency to devolve into absolute feudalism, unless certain non-aggression principles are adhered to. But in either case, you'd have fewer billionaires.

Bender 4y ago

For what it's worth, capitalism and communism are entirely orthogonal. China for example is simultaneously a communist government at the moment whilst also being one of the biggest capitalistic nations. Capitalism is a form of monetarism whereas communism is a form of governance.

PaulDavisThe1st 4y ago
Communism is only partially a form of governance. Conceptually it also describes the ownership of the means of production. If the people own the means of production, then the preferential distribution of profit to capital becomes non-sensical, and thus there is no capitalism. China is a strange hybrid, that is neither fully communist, nor "fully" capitalist (in the sense of, say, the USA). This is what allows aspects of both systems to co-exist.
- LinuxBender 4y ago
  I completely agree. Each nation has it's own flavor of monetarism and governance that results in a unique outcome with varying degrees of real time control. China have more arbitrary control over business that results in greater real time arbitrary stipulation of monetary outcome. Governance over business is less arbitrary and more predictable in the USA, most of the time anyway.
- flenserboy 4y ago
  State Capitalism.
- snoot 4y ago
  > China is a strange hybrid, that is neither fully communist, nor "fully" capitalist Typically this ‘strange hybrid’, where the people serve an authoritarian state which exerts arbitrary power over ostensibly capitalist industry, is referred to by the term, ‘fascism’.