In the last 5 to 10 years everything seems to suck: product’s and services quality plummeted, everything from homes to cars to food became really expensive, technology stopped to help us to be something designed to f@ck with us and our money, nobody seems to be able to hold a job anymore, everyone is broke. Life seems worse in general.
Why? Did COVID made this happen? How?
Because corporate greed and the economic elite around the world hoarding more resources than ever before.
And we let them.
We don’t just let them, we cheer them on. Look at the celebrity worship culture we humans have. If you took away the person and left only their actions, most of us would happily throw the rich into a woodchipper. But they use their money to convince us that they’re special and deserve praise, and most of us go along with it because we’re sheep.
Pioneer woman.
She’s got a huge ranch a huge house a specialty made kitchen just for her show… works super hard to look blue collar.
It’s all crafted to separate you from your money…
I found out recently that the land that her ranch sits on is at least adjacent to, if not directly involved in the events shown in Killers of the Flower Moon.
While I agree her image is at the very least somewhat exaggerated, her net worth probably puts her somewhere in the top 10%. She’s not exactly the powerful elite.
Rae Drummond has a reported net worth of approx $65m as of last year.
The top 1% of United States net worth starts at $12m. She is just inside the top 0.1% of us net worth which starts at $62m.
Hell, her last name alone gives it away.
The Drummond family is one of the wealthiest families in Oklahoma, owning hundreds of thousands of acres of land.
Wealthy enough they have their own Wikipedia page.
https://en.m.wikipedia.org/wiki/Drummond_family_(Oklahoma)
She’s married into one of the wealthiest families in Oklahoma.
Completely excluding the tens of millions she herself is worth from her business.
That is such a lazy argument. More people then ever before are out of poverty in the history of mankind. Doesn’t mean there are not problems. In regards to COVID, we took millions of people out of the workforce while printing money and still paying many of them? Of course that will result in massive reduction of inventory levels that we will feel for a decade. That results in inflation as what do people expect when less items available to the same amount of people that want them.
Regards to qualities etc. That varies. We have more access to products then at anytime in history as well. And many of these products have come down significantly in price. But that also means quality products and their prices get compared to shit products at lower prices. What do you think people buy? Secondary, people do far less informal work and that effects your perception of income. Our parents and grandparents maintained their own cars and houses for example and grew far more food. Now every hires that out and buys all their groceries at a store. That leaves you with far less money.
Then there is one industry that has made gains but their costs has gone up ten fold. That is healthcare. You have access to some of the best medical procedures then at anytime in history. But some of those costs can be North of a million dollars. Our parents and grandparents simply did not access that and in some cases died. I am happy I have now options but this is coming at a huge cost of which much of it has to be paid for upfront before you retire.
You could kill off every billionaire tomorrow but that won’t result in much more houses being built or available. Wealth inequality is an issue but if more cogs are not manufactured, our standard of living will not change much.
People in cities have not sustained on growing their own foods for hundreds of years. Refined crops and goods have been machined into the cities ever since the industrial revolution and before that it was farmers that brought their goods to be sold at the markets. The greatest achievement of humanity over other species on the planet is our ability to delegate and cooperate. You grow food, I make tools. Together we thrive.
Yep, you have a rampant problem with housing and healthcare over there in America-land, I agree. But why is that? Because of massive hoarding of resources. Human essentials and needs are commoditized like a “smart” investment for the ruthless opportunists. Hell, your entire societal system is built around it, and it’s spilling into the rest of the world. It’s a dog eat dog economy that is hailed like an ideology by useful idiots bought by the elites by the trickling of pocket change. Then the ideology has been turned into a culture of over consumption, again hailed by other useful idiots to convince the regular people that it will give them purpose, fill the hole, numb the pain of the aimless grind for nothing meaningful ever. And who does all of this benefit? Where do all this wealth and all these resources end up that could transform the entire planet for something that benefits all mankind? To the owners of the owners of the owners, and the money that doesn’t crawl it’s way up is a good investment to keep the system intact.
But no, let’s concentrate on the tools we use and not what they do. Let’s focus on the monetary system. Let’s get stuck in inflation and regression and unfortunate loopholes “but-what-can-you-do” and tax havens and desired unemployment rates and spoiling of food while people are starving - for the economy. Everything can be explained with the economy, and if you disagree you’re clearly uninformed or ignorant don’t have enough the smarts.
People have done the double think and now the economy is no longer the tool, is no longer a representation, but it is the real thing. And more so the current economic system is forever and eternal and unchangeable like the word of God.
It’s funny and sad that people actually believe this is all there is.
Unregulated capitalism…
This is the natural result of that.
COVID factored in because the handful of corporations that own a shit ton of companies figured out 8% inflation could be used as justification to double/triple prices, and if they all did it, consumers had no options.
In regulated capitalism, the government would step in to prevent this type of price fixing.
But when both political parties are “pro business” and take donations from those huge corporations…
Then corporations get away with lots they shouldn’t
In regulated capitalism, the government would step in to prevent this type of price fixing.
like this?
https://www.nytimes.com/2024/01/23/us/yale-columbia-price-fixing-settlement.html
https://www.texastribune.org/2024/01/19/rice-university-price-fixing-lawsuit/
I looked at some of those, and it’s private citizens suing corporations…
Even the rent one with the DOJ, it’s just them becoming involved in private lawsuits…
That’s not the same as the government regulating capitalism.
And while that one is sort of related to the topic, not really. It’s because the price fixing is automated by a computer program a bunch of landlords used.
In the future if you only give one link and some kind of explanation other than “like this?” The person you replied to can probably do a better job of helping you understand.
I looked at some of those, and it’s private citizens suing corporations…
That’s not the same as the government regulating capitalism.This is like saying that Texas doesn’t regulate abortion because it’s just private citizens filing lawsuits. That is bullshit.
Without the regulations, there would be no legal basis for filing a lawsuit.
But the government doesn’t regulate capitalism, they are owned by the capitalists. So many laws exist because corporations paid for them to, moreso in recent years but it was still bad 50+ years ago, just look at how successful the tobacco industry is.
The US has this bizarre setup where we “regulate” companies through the courts rather than directly through government agencies (this is not always the case, but it often is). The problem is that even when this “works”, i.e., the court punishes the company, they get a fine. So it becomes a financial decision: if we can get away with this, does that outweigh the risk that we might not? Sometimes it ends up profiting the company regardless.
Related to this is that prosecutors have total discretion in the realm of plea deals. If you do a crime here, it becomes a negotiation with the prosecutor. What can you offer them to get off the hook? Sometimes it makes sense to do a crime, because the advantages you gain become leverage to negotiate your way out of punishment.
Related to this is that prosecutors have total discretion in the realm of plea deals. If you do a crime here, it becomes a negotiation with the prosecutor.
I agree with you. The justice system should not be “let’s make a deal.”
The US has this bizarre setup where we “regulate” companies through the courts rather than directly through government agencies (this is not always the case, but it often is).
I’m afraid that I don’t understand what sort of alternative system you have in mind.
Basically do what Europe does. Government regulators actively monitor companies and stop them from misbehaving, rather than waiting for them to misbehave and then sue them. If they don’t follow regulations they get disbanded. It’s not perfect but it’s better than what we have here.
I believe that already happens here in certain fields like nuclear energy and slaughterhouses
Yes, but a HUNDRED TIMES MORE! AND WITH ACTUAL PENALTIES INDEMNITY ETC
Company makes a billion dollars and then it’s fined 200 million, ten years later because a private citizen sues them…
Is this government regulation?
You’re a meme. And by that I mean, you’re a joke.
Thank you for contributing to the discussion.
Covid made things worse, but the fundamentals were bad.
We are in the middle of a massive tightening of the labor market as boomers retire and there aren’t enough young adults to fill the gap. This is causing major ripples in the market, with a very antagonistic relationship forming between capital trying to keep labor costs down and labor tired of the bullshit.
This is causing some mild inflation, so companies are jacking up prices since they have an excuse to. This increased inflation is making the time value of money cost more. So now you have companies that were losing money having to scramble to finally generate a profit. This is causing the enshittification of the Internet and the loss of jobs in the tech sector.
The worse economy is causing political problems as it is harder for politicians to justify their positions in power. This encourages conflict between nations and the justification to deny some people of social benefits to create an underclass to benefit voters.
I agree with this, and I’d like to add that the wealth gap focusing on funneling money to the top is obviously not helping the quality of products, responsible production , or fair compensation for most of the world.
Yeah, but I’m trying to explain why it is happening. You’ve hit market saturation in so many companies when the only way to fuel growth now is to reduce costs.
Cumulative generational focus on acquiring and consolidating capital explains the why comprehensively, at least in the states.
Monopolies, market saturation, minimizing cost at all costs, poor labor compensation are all symptoms of a system focused primarily on acquiring and consolidating capital.
You see, it all started in May, 2016 with this Gorilla being killed. That’s when this timeline split off…
That kid’s gotta be around 11 or 12 now. Wonder how he’s doing.
I’m guessing with that level of parenting, the kid is still a little shit.
Harambe died May 28th. Cubs won the World Series November 2nd. Trump became president-elect on November 8th. That’s when we should have recognized the timeline problem.
RIP. We didn’t know what we had until it was gone.
Capitalism. The longer Capitalism exists, the more it has to find new ways to stop/slow its own built-in death clock. If it doesn’t, it dies, due to problems like the Tendency for the Rate of Profit to Fall and rising disparity. Enshittification, so to speak.
With each economic disaster, the wealthiest of the bourgeoisie can claim large swaths of cheaper Capital at a discount, compounding the issue into a form of neo-feudalism that will eventually collapse under its own weight.
God forbid a post-scarcity world where the only currency is our reputation, honor, and credibility.
Make it so number one.
Hehehehe it started there but took an Orville hard left
It’s not “Capitalism”, it’s governments not doing their job in regulating capitalist practices, and instead embracing neoliberal economics. I don’t accept that all ownership is theft. Trade in goods and services benefits both parties. I am so sick of people using this shorthand word “capitalism” to describe what’s going on here. We’ve had capitalism for millennia, and it’s brought us longer, healthier and happier lives, and reduced warfare. It’s Thatcherite/Reaganomic practices by governments that are the problem, not the system of ownership of capital.
At the core, the issue is still deeply rooted within capitalism but governments should absolutely be doing their fucking jobs and curb the worst aspects of it a little until we’re ready for something better.
Fair point, I accept that. A bit like how democracy is the worst form of government apart from those other ones we tried.
Even then, there are still countless forms of democracy and democratic government. Democracy itself is a cool concept, the actual systems utilizing Democracy vary wildly, from the Soviet form, to the Chinese form, to the American form, to the European forms, to the forms practiced in more Anarchist societies like the EZLN and revolutionary Catalonia, and more.
There’s direct Democracy, council Democracy, republican Democracy, proportional Democracy, parliamentary democracy, and far, far more.
Liberal Democracies are of, by, and for the bourgeoisie. Because Capitalists have immense influence, the state will bend to their will.
Trade is good. Capitalism is not. Capitalism is not trade, its a Mode of Production by which there are individual Capitalists and non-owner workers. We have not had Capitalism for millenia, but a few hundred years.
Capitalism did not bring us healthier, longer, and happier lives, nor reduce warfare. Development did. Capitalism drives profit, that’s it, anything else is tangential to that end.
I think you would do yourself a lot of good by reading theory.
I agree with your last point - and I may be a bit bourgeois (not to mention ignorant) myself. I’d appreciate recommendations if you wouldn’t mind.
That’s a ton of reflection and openness, so I just want to commend you for that. Fantastic to hear and see.
Initially, I want to give a general basis for what can be considered bourgeois. The Bourgeoisie are those Capitalists who do not need to perform labor to survive, and earn their money via ownership alone. One can be a business owner actively and a member of the bourgeoisie if they can simply hire someone to manage in their place, but a member of the petite bourgeoisie cannot hire a manager to take their place and still make enough money to survive.
As for general reading recommendations? You have a lot of paths you can go. I don’t personally recommend going full ML or full Anarchist right off the bat, usually it takes a lot of reflection to pick a tendency. I myself don’t even have a tendency I identify with, as I believe the process towards progress is unique for each country and state.
If you want a real quick intro: Principles of Communism, by Engels, is an extremely quick read. Why Socialism? by Albert Einstein is another fantastic paper. The Communist Manifesto is good, but it’s extremely fiery and usually is better after you’re familiar with Marxism.
If you want to get a quick intro that breaks more into the theory side (as in, you’ll be more well-read than the vast majority of online leftists with little effort), read both Value, Price, and Profit and Wage Labor and Capital by Marx. They are condensed and simplified versions of what Marx greatly elaborates on in Capital, his seminal masterwork.
For Anarchism, An Anarchist FAQ is a good starting point. Note that Anarchists usually align with Marxists on analysis, but not on strategy.
There’s also topics like Syndicalism, Market Socialism, the idea of Reform vs Revolution (Rosa Luxembourg has a good paper on that), and more, but those are fantastic bang for buck reads.
If you still want more, you can always read Socialism: Utopian and Scientific and The Conquest of Bread, the former for Marxism and the latter for Anarchism.
Hope this helps! There are tons of YouTube videos as well that simplify Marxism as much as possible.
We’ve had capitalism for millennia
No we haven’t. The historians that think capitalism started the earliest place its birth in the XIVth century. I think you’re confused about the definition of capitalism.
It’s come and gone throughout the millennia, like certain pieces of knowledge. Eratosthenes very accurately calculated the circumference of the world in Ptolemaic Egypt and later on people thought the Earth was flat (and some morons still do). As for capitalism, look at prehistoric societies using shells as currency. What is that currency for?
Capitalism isn’t “when people use money”. It has an actual definition.
You may enjoy this read:
Thanks for this :)
Capitalism is not millennia old. Capitalism (as commonly defined) only stared to take root after the black death (1350ish) flipped feudalism on its head. Suddenly the free and unfree peasant class had some control of their own destiny and could sell their skills to whomever they wanted at whatever price they could get. Serfs could declare themselves free. Land was often up for grabs.
It’s not “Capitalism”, it’s governments not doing their job in regulating capitalist practices
It’s Thatcherite/Reaganomic practices by governments that are the problem
Hmm, I’m trying to remember what economic system both these countries have… Let’s call it “Bappitalism”. And if the economic model is so powerful that it influences the governmental one (lobbyists, military spending, etc), then yes, that is a problem.
Read the other comments please.
That’s not how forums or discussions in general work. For reference, read other comments on the internet, please.
Alas, the alternative to capitalism has never been socialism, but feudalism.
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Thank you for this excellent writeup.
A lot of mistakes/repercussions was readily documented beforehand and could have been avoided by proper regulations (even by not removing sane ones such as the Glass–Steagall legislation).
Moreover, Climate Change is affecting a larger and larger part of the stochastic increases in instability: from extreme localized weather and regional aberration to global temperature anomaly affecting every part of the planet differently.
However, we live in a world whereas bombastic contrarians are lauded, even elevated to positions of power or at the center of important decision making processes. No wonder we keep being surprised by avoidable disasters.
You see it all started when some dumb motherfuckers decided to leave the relatively plentiful African Savannah for the dead-land that was the desert. Then they had to invent agriculture and it was all downhill from there.
“Many were increasingly of the opinion that they’d all made a big mistake in coming down from the trees in the first place. And some said that even the trees had been a bad move, and that no one should ever have left the oceans.”
But then we wouldn’t have the triple breasted whores of Eroticon Six!
Ahhh, Excentrica Gallumbits. I remember her fondly.
I’ve seen the argument made that there was no mental illness (non phyiso-neurological, I suppose?) And therefore civilization is worse per se.
I mean… animals, disease, murder, rape, starvation, hydration… but still not living in the same ongoing trauma anxiety state of today
There’s no objective “answer” to this, just sharing an idea I’ve seen
Capitalist governments are pro-finance, not pro-people. Totalitarian gvmts (China etc) are pro-system, not pro-people. They’re just different ways of maintaining classes of people who control the power/finances.
There’s always been an uber-rich elite, all the way from the first tribal chieftain or Pharaoh or whatever until now and there’s always been a huge underclass of the rest of us. The first law of any hierarchy is to protect the people at the top.
What we see today (in Westernised countries) is the natural, logical progression of economics driven democracy. Economic theorists say wealthy people create wealth by purposefully distributing it via jobs etc but in reality they do everything possible to minimise the loss of what they see as their money by abusing labour laws, privatising everything, trying to kill unions, creating convoluted laws to protect their fortunes, avoiding taxes and hiking prices up to the point most of us are just about surviving with enough carrot to ignore or pretend we don’t see the stick.
And we’re willing participants in that system. We know this is happening but we’re dazzled by lotteries holding out the chance to join the rich, promises of work making us rich and a media which lionises the elite as some kind of fabulous aspirational status to the point we have people on social media faking a rich lifestyle for internet points.
The uber rich believe they’re better than us and our acquiescence with this system really means we agree with them.
Late stage capitalism
In the UK, 14 years of Conservative government has really made the rot grow.
Y’all have been going hard at Americanism for a minute now. I remember the beginning of the new world media thinking, “oh shit, there as obese and decrepit as us”
Shareholder value. Companies are cutting everything they can to increase stakeholder value: wages, quality, support, ownership, etc.
Capitalism is the answer. We’re in the part of capitalism where regular people are almost completely out of money. Bezos is building company towns preparing for a huge influx of new desperate Amazon employees.
One of the major reasons is that Milton Friedman had a thought back in the 70s that fucking everyone in the western world latched onto, and the consequences have been getting worse and worse for the average person for most of the time since then.
Of course, neoliberals don’t actually believe in neoliberalism, they profit off it’s failure.
If you give a rich person even more money and it never trickles down, you just gave a rich person money. If you’re claim companies will regulate themselves and they don’t, you just gave companies the freedom to do exploitative, dangerous things in search of bigger profits.
If neoliberalism actually delivered on any of its promises, neoliberals wouldn’t support it.
It’s nothing more than a book of pre-made lies that sound plausible enough for a press conference and signal to other neoliberals that their feeding trough is being filled.
Knew the what. Not the how/why we got there. Thanks for sharing.
Indeed. Knowing how we got here is the first step to fixing it.
Shareholder primacy is older than that. Check out Dodge v. Ford
Sure, but him writing that op-ed in the NYT popularized it to the degree that it became an explicit goal of pretty much all corporate leadership people from that point on.
Late stage capitalism. The ownership class has accelerated the widening gap ever more during the pandemic, out of simple greed. Control and wealth distribution systems, even governments are increasingly beholden to their wishes, and do nothing to help aside from lip service. The ecosystem dies of the same disease, endless greed and growth. Number go up is all that matters.
I think the enshitification of the Internet was sort of just what happens to everything once it gets monetized. It was already happening before COVID.
On the other hand - when I was growing up, my city was rough. So much violent crime, bands would not come here, it was notorious. Now? No. Violet crime has decreased sharply, my kids grew up in a different world than I did.
Jobs haven’t become less secure, or at least not in my experience, that change happened in the 1980s, and it’s been about the same since.
Everyone is broke because of Ronald Reagan, for lack of a better way to explain it. Deregulation. Workers have gotten ever more productive without getting their cut of that increase in productivity and this is the endgame of that trend.
The rise in interest rates meant easy money dried up for corporations. They all had to “monitize” at the same time. That’s why enshitification happened everywhere at the same time. Things are easing. Enshitification will slow down.
