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> Profit-seeking capitalists will. I like how you say this as if it's some sort of slur. This is fundamentally how the world economy works, not some evil plot.

> Profit-seeking capitalists will. I like how you say this as if it's some sort of slur. This is fundamentally how the world economy works, not some evil plot. And even if you have some problems with particular implementations of some brands of capitalism, "wanting to get the most value for the lowest cost", which is exactly what "profit-seeking capitalists" do, is a pretty universal human trait, from the CEO who decides he can lay off humans and replace them with AI, to the everyday consumer who decides they can use ChatGPT to plan things around a specific vacation destination instead of using a travel agent.

analognoise 3y ago
We can absolutely set the market parameters to prevent this. 5 families have more wealth than 50% of Americans combined. Stock buybacks incentivize short term beahavior - and they used to be illegal! WE set the market parameters. We don’t have to just say “this is how it works”.
- randomdata 3y ago
  > 5 families have more wealth than 50% of Americans combined. Does that say more about the five families or the 120 million other families in America? Wealth is, after all, created out of thin air. Paint a painting that other people like and you've created wealth. Likewise, stop liking the metaphorical paintings those five families have and their wealth vanishes. How did most Americans become so boring that five families are responsible for 50% of all that is considered desirable?
- hn_throwaway_99 3y ago
  I totally agree, which is why I wrote "even if you have some problems with particular implementations of some brands of capitalism" - and I certainly have some problems with the American brand of capitalism. I just think it's silly to blame "profit-seeking capitalists", which is really just another word for "people who want to get the most value for the lowest cost", which is everybody.

analognoise 3y ago

We can absolutely set the market parameters to prevent this. 5 families have more wealth than 50% of Americans combined. Stock buybacks incentivize short term beahavior - and they used to be illegal! WE set the market parameters. We don’t have to just say “this is how it works”.

randomdata 3y ago
> 5 families have more wealth than 50% of Americans combined. Does that say more about the five families or the 120 million other families in America? Wealth is, after all, created out of thin air. Paint a painting that other people like and you've created wealth. Likewise, stop liking the metaphorical paintings those five families have and their wealth vanishes. How did most Americans become so boring that five families are responsible for 50% of all that is considered desirable?
hn_throwaway_99 3y ago
I totally agree, which is why I wrote "even if you have some problems with particular implementations of some brands of capitalism" - and I certainly have some problems with the American brand of capitalism. I just think it's silly to blame "profit-seeking capitalists", which is really just another word for "people who want to get the most value for the lowest cost", which is everybody.