Besides being a bit of a shallow comment, what exactly do you imply here? That capitalism logically implies that the rich become richer? I don't think this is necessarily the case, it just needs a stronger government than what the US currently has in place. (e.g. progressive taxation and strong antitrust policy seem to work fairly well in Europe).
But with how compounding works, isn't this outcome inevitable in capitalism? If the strong government prevents it then the first step for the rich is to weaken or co-opt the government, and exactly this has been happening.
>That capitalism logically implies that the rich become richer? I don't think this is necessarily the case,
It doesn't need to imply anything. It's an ideology, those promoting it will say whatever BS attracts people to it. In practice, what is happening in capitalist countries since 1970s (when they abandoned all pretense) is that the rich get way richer and everybody else is fucked.
We have a lot of people, capitalism values them as approaching zero, anything that alters that valuation (without reducing population) is contrary to capitalism. Capitalism means the rich must get richer, they own the resources and means of production, they take the reward.
It comes to a point where they need an underclass to insulate them from the masses; look how cheaply Trump bought his paramilitary though, he only had to spend the money taken from those he's suppressing, didn't even have to reduce his own wealth one bit; the military and his new brown shirts will ensure the rich stay rich and that eventually there is massive starvation (possibly water/fuel poverty first).
Or USA recovers the constitution, recognises climate change and start to do something about it.
It seems like the whole of humanities future hinges on a handful of billionaires megalomania and that riding on the coattails of Trump's need to not face justice for his crimes.
Capitalism just means private citizens can own the means of
production (e.g. start a business, buy stock) and earn a return on investment. It doesn’t mean only the rich must get richer. It means anyone who saves and invests their money instead of spending it gets richer.
However capitalism is perfectly compatible with a progressives taxation system such that the rich get richer at a lesser rate than the poor get richer.
> That capitalism logically implies that the rich become richer? I don't think this is necessarily the case,
It is necessarily the case. Capitalism is characterized by private ownership of capital, which among other things means that it's possible to accrue it without limit. So the loop whereby the rich accumulate capital, which then allows them to extract even more value produced by workers (i.e. people who actually do useful things with said capital), is an inherent part of capitalism.
You can make it more mellow by heavily taxing the capitalists and using that money to raise the standard of living for everyone else, which is basically what Western social democracy is. But it doesn't eliminate the loop, and thus rich continue getting richer. And more powerful, too, which they use to dial said taxation back eventually.
Besides being a bit of a shallow comment, what exactly do you imply here? That capitalism logically implies that the rich become richer? I don't think this is necessarily the case, it just needs a stronger government than what the US currently has in place. (e.g. progressive taxation and strong antitrust policy seem to work fairly well in Europe).
But with how compounding works, isn't this outcome inevitable in capitalism? If the strong government prevents it then the first step for the rich is to weaken or co-opt the government, and exactly this has been happening.
>That capitalism logically implies that the rich become richer? I don't think this is necessarily the case,
It doesn't need to imply anything. It's an ideology, those promoting it will say whatever BS attracts people to it. In practice, what is happening in capitalist countries since 1970s (when they abandoned all pretense) is that the rich get way richer and everybody else is fucked.
Versus what exactly? Communism? Where the rich got richer faster and people got fucked faster?
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We have a lot of people, capitalism values them as approaching zero, anything that alters that valuation (without reducing population) is contrary to capitalism. Capitalism means the rich must get richer, they own the resources and means of production, they take the reward.
It comes to a point where they need an underclass to insulate them from the masses; look how cheaply Trump bought his paramilitary though, he only had to spend the money taken from those he's suppressing, didn't even have to reduce his own wealth one bit; the military and his new brown shirts will ensure the rich stay rich and that eventually there is massive starvation (possibly water/fuel poverty first).
Or USA recovers the constitution, recognises climate change and start to do something about it.
It seems like the whole of humanities future hinges on a handful of billionaires megalomania and that riding on the coattails of Trump's need to not face justice for his crimes.
Capitalism just means private citizens can own the means of production (e.g. start a business, buy stock) and earn a return on investment. It doesn’t mean only the rich must get richer. It means anyone who saves and invests their money instead of spending it gets richer.
However capitalism is perfectly compatible with a progressives taxation system such that the rich get richer at a lesser rate than the poor get richer.
2 replies →
> That capitalism logically implies that the rich become richer? I don't think this is necessarily the case,
It is necessarily the case. Capitalism is characterized by private ownership of capital, which among other things means that it's possible to accrue it without limit. So the loop whereby the rich accumulate capital, which then allows them to extract even more value produced by workers (i.e. people who actually do useful things with said capital), is an inherent part of capitalism.
You can make it more mellow by heavily taxing the capitalists and using that money to raise the standard of living for everyone else, which is basically what Western social democracy is. But it doesn't eliminate the loop, and thus rich continue getting richer. And more powerful, too, which they use to dial said taxation back eventually.
Isn't that what Americans call socialism?