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So... because capitalism. People have this propagandized view that the "free market" (which isn't real) is responsible for innovation. All capitalism does is
by jmyeet 1y ago
So... because capitalism.
People have this propagandized view that the "free market" (which isn't real) is responsible for innovation.
All capitalism does is build enclosures and engage in rent-seeking. With the tendency for profits to decrease, ultimately it comes down to cutting costs and raising prices. So why would a water company invest in a new reservoir? That increases supply. That might lower prices.
The UK is going to neoliberal all the way into being a developing nation.
- oceanplexian 1y ago>People have this propagandized view that the "free market" (which isn't real) is responsible for innovation. In the last century and a half, we went from candle light and horse and buggy, to the lowest level of global poverty in the last 5,000 years of recorded human history. If capitalism wasn't responsible then what was?
- jmyeet 1y agoChina is almost solely responsible for the reduction in global extreme poverty [1]. [1]: https://www.worldbank.org/en/news/press-release/2022/04/01/lifting-800-million-people-out-of-poverty-new-report-looks-at-lessons-from-china-s-experience https://www.worldbank.org/en/news/press-release/2022/04/01/l...
- gerdesj 1y agoPlease expand your thesis.