logoalt Hacker News

smokelyesterday at 1:17 PM4 repliesview on HN

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).


Replies

kubbyesterday at 2:01 PM

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.

show 1 reply
coldteayesterday at 2:47 PM

>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.

show 1 reply
pbhjpbhjyesterday at 2:15 PM

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.

show 1 reply
beardywyesterday at 1:47 PM

Isn't that what Americans call socialism?