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Why? Because we are in "late stage capitalism". Capitalism is ultimately self defeating. Companies strive to reduce labor costs and thus inflate the bottom l

Why? Because we are in "late stage capitalism". Capitalism is ultimately self defeating. Companies strive to reduce labor costs and thus inflate the bottom line --- with the savings mostly accruing to those at the top. But paying out less in wages will eventually shrink the available market for the products and services the companies produce. Capitalists have traditionally sought out new markets to combat this issue. But now, there are few new markets left --- and consequently, the system is stagnating and drowning in debt and trending toward collapse.

quantified 3y ago
And pursuit of collecting profit decidedly is not pursuit of anyone's well-being. Workplace safety and food inspection regimes did not come about due to market pressure, for example.
Blackstrat 3y ago
Capitalism is ultimately self defeating? And the alternative?
- jqpabc123 3y ago
  Socialism or collapse/anarchy --- take your pick. You don't have to be psychic to see that concentrating ever more wealth in fewer and fewer hands is ultimately not a "good thing" for anyone --- even the wealthy. If death is only the proof they will accept, so be it. It may well reach that point.
  - Blackstrat 3y ago
    Socialism concentrates wealth as well. The difference is that capitalism allows the chance of success. Socialism does not.
jfengel 3y ago
It's true, but every developed country is also in late stage capitalism. Many appear to be trying to trend away from predictable path of aggregating all of the wealth in a few hands -- or at least, trying to ensure that the poorest aren't desperate enough to google plans for guillotines. They're having mixed success, and it may be that late-stage capitalism will come for them regardless. But the US appears to be going full steam ahead. It's something about our culture. There are so many factors that it's hard to frame it in a few sentences. It does feel as if we bought into "capitalism" extra hard, which made us super-wealthy, but also a belief that anybody who isn't wealthy (or trying to be) is mentally and morally deficient. And it dovetails with a longstanding xenophobia, that anybody sufficiently different must be oppressed. All of these properties exist elsewhere. America just seems to do them harder than anybody else, and that's creating a lot of suffering. And we refuse to change anything about it, because we never feel rich enough.

quantified 3y ago

And pursuit of collecting profit decidedly is not pursuit of anyone's well-being. Workplace safety and food inspection regimes did not come about due to market pressure, for example.

Blackstrat 3y ago

Capitalism is ultimately self defeating? And the alternative?

jqpabc123 3y ago
Socialism or collapse/anarchy --- take your pick. You don't have to be psychic to see that concentrating ever more wealth in fewer and fewer hands is ultimately not a "good thing" for anyone --- even the wealthy. If death is only the proof they will accept, so be it. It may well reach that point.
- Blackstrat 3y ago
  Socialism concentrates wealth as well. The difference is that capitalism allows the chance of success. Socialism does not.

jfengel 3y ago

It's true, but every developed country is also in late stage capitalism. Many appear to be trying to trend away from predictable path of aggregating all of the wealth in a few hands -- or at least, trying to ensure that the poorest aren't desperate enough to google plans for guillotines. They're having mixed success, and it may be that late-stage capitalism will come for them regardless. But the US appears to be going full steam ahead. It's something about our culture. There are so many factors that it's hard to frame it in a few sentences. It does feel as if we bought into "capitalism" extra hard, which made us super-wealthy, but also a belief that anybody who isn't wealthy (or trying to be) is mentally and morally deficient. And it dovetails with a longstanding xenophobia, that anybody sufficiently different must be oppressed. All of these properties exist elsewhere. America just seems to do them harder than anybody else, and that's creating a lot of suffering. And we refuse to change anything about it, because we never feel rich enough.