3 ms·
I feel like capitalism is a net good, but it is consistently undercut by wall street.
by whalesalad 3y ago
I feel like capitalism is a net good, but it is consistently undercut by wall street.
- whythre 3y agoInvestment has become increasingly decoupled from its reputed purpose; it’s not a means to an end, getting short term gains at all costs has become the end goal.
- swed420 3y agohttps://thenextrecession.wordpress.com/2024/04/01/bitcoin-24/ https://thenextrecession.wordpress.com/2024/04/01/bitcoin-24... > Back to Marx here. “The two characteristics immanent in the credit system are, on the one hand, to develop the incentive of capitalist production, from enrichment through exploitation of the labour of others, to the purest and most colossal form of gambling and swindling.” So the finance sector carries on just as before, engaging in speculation and regulators cannot and do not stop them. > The answer is not regulation (before or after the event), but the banning of fictitious capital investment. Close down hedge funds, bitcoin exchanges and exchange trade funding. Instead, banking should be a public service for households and small companies in order to take deposits and make loans – not funding for a massive financial casino where criminals and swindlers gamble away our livelihoods.