4 ms·

He's indicting the Chicago school and rightly so because the academic priesthood condoning vampiric, unrestrained, hyperindividualist capitalism sleepwalking ci

He's indicting the Chicago school and rightly so because the academic priesthood condoning vampiric, unrestrained, hyperindividualist capitalism sleepwalking civilization into existential threats of collapse is broken. Strong regulation, collective bargaining, employee ownership, and more nonprofit social ventures in lieu of for-profit so-called "public private partnerships" are some of the paths that must replace unrestrained, unregulated externalities being dumped on others because it's more profitable than doing the right thing™. One of the most pressing problems is private equity with too much money and too much power buying up everything and anything in order to rent it back to us for more money because they can and because of said too much money and too much power and nowhere else to park it.

BLKNSLVR 3y ago
Don't forget that those who sit at the top of what capitalism has provided are also able to thoroughly define the narrative that's applied to the rest of society. For example, many of the paths you've rightfully pointed out are, have been, and will be tarred with the socialism brush which, in (too) many corners of the US, is a synonym for communism. and maybe I just don't have a good enough imagination, but I can't see anything other than extreme violence being able to solve the concentration of power. I'm not promoting it at all, but my knowledge of humanity and history is such that that's where I think the percentages point towards. Those with power seem to be increasingly doubling-down on positions that my logic would deem untenable, and their calling to account by those aspects of society responsible for calling power to account seem to be increasingly failing.
- deleted 3y ago
  [deleted]
yterdy 3y ago
An important addendum is that the government/finance revolving door must end, because what is sitting at the confluence of the rent-seeking you describe and the regulatory capture I just alluded to is our current paradigm, where the public is constantly forced to bail out "wealthy" entities in the wake of their bad bets blowing up and taking out an institutional pillar of our economy or two. It has happened multiple times just this year, almost silently (on top of the high likelihood of a few additional instances happening completely out of view of the public, both here and abroad).

BLKNSLVR 3y ago

Don't forget that those who sit at the top of what capitalism has provided are also able to thoroughly define the narrative that's applied to the rest of society. For example, many of the paths you've rightfully pointed out are, have been, and will be tarred with the socialism brush which, in (too) many corners of the US, is a synonym for communism. and maybe I just don't have a good enough imagination, but I can't see anything other than extreme violence being able to solve the concentration of power. I'm not promoting it at all, but my knowledge of humanity and history is such that that's where I think the percentages point towards. Those with power seem to be increasingly doubling-down on positions that my logic would deem untenable, and their calling to account by those aspects of society responsible for calling power to account seem to be increasingly failing.

deleted 3y ago
[deleted]

yterdy 3y ago

An important addendum is that the government/finance revolving door must end, because what is sitting at the confluence of the rent-seeking you describe and the regulatory capture I just alluded to is our current paradigm, where the public is constantly forced to bail out "wealthy" entities in the wake of their bad bets blowing up and taking out an institutional pillar of our economy or two. It has happened multiple times just this year, almost silently (on top of the high likelihood of a few additional instances happening completely out of view of the public, both here and abroad).