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Even the rich will be worse off. Just relatively less so. It's utterly irrational, but that's what happens when a population feels disillusioned with the status
by idle_zealot 2y ago
Even the rich will be worse off. Just relatively less so. It's utterly irrational, but that's what happens when a population feels disillusioned with the status quo, and capital does all it can to push that unrest in any direction but reducing wealth inequality. Turns out the next easiest outlet is to appeal to humanity's worst tendencies, resulting in the rise of fascism.
This will play out over and over in liberal democracies so long as they abide a large wealth gap. It's anyone's guess whether we'll figure that out before there are no democratic states left.
- omnee 2y agoThe status quo in western countries of giving absolute primacy to the needs/demands of capital above all else has indeed failed. The share of national income going to the middle and working classses makes this obvious. Yet, this is not being resolved. Instead, the very same groups that have benefitted from the status quo have managed to acquire power on the back of a disaffected populous, and they hold a fundamental belief that multi-lateral institutions/geopolitics do not act in the US's (or their) economic interest.