Yeah, we’re at a point where there’s a large gap between the profit motive and the system we’ve basically been using for the last several hundred years (arguably thousands but that’s beside the point) to build a somewhat functional society that recognizes human dignity and that people require food and shelter to survive and continue to reproduce and labour.
I think that this marks an unprecedented level of control for an ownership class that’s largely out of the regulatory grasp of many nation states (developed or otherwise), and that’s why unfettered capitalism seems to be quickly careening towards mass inequality despite surplus resources and many places on earth being reasonably considered to be post-scarcity.
Seems like the myth of constant growth is a religion these days and the mandatory tithes of the common people are no longer able to prop up the church, if you’ll excuse a ham-fisted comparison.
If there’s no modern New Deal or progressive taxation reform incoming, expect mass defaults and a stock market overcorrection that leads to a significant recession. Not sure when, but probably in the next decade given how even moderately wealthy people (around $100k+/year for a single adult) seem to be legitimately struggling to pay their mortgages.
Yeah, we’re at a point where there’s a large gap between the profit motive and the system we’ve basically been using for the last several hundred years (arguably thousands but that’s beside the point) to build a somewhat functional society that recognizes human dignity and that people require food and shelter to survive and continue to reproduce and labour.
I think that this marks an unprecedented level of control for an ownership class that’s largely out of the regulatory grasp of many nation states (developed or otherwise), and that’s why unfettered capitalism seems to be quickly careening towards mass inequality despite surplus resources and many places on earth being reasonably considered to be post-scarcity.
Seems like the myth of constant growth is a religion these days and the mandatory tithes of the common people are no longer able to prop up the church, if you’ll excuse a ham-fisted comparison.
If there’s no modern New Deal or progressive taxation reform incoming, expect mass defaults and a stock market overcorrection that leads to a significant recession. Not sure when, but probably in the next decade given how even moderately wealthy people (around $100k+/year for a single adult) seem to be legitimately struggling to pay their mortgages.