Unfortunately, it seems we’re reaping what we sow by switching from Keynesian to Neoliberal economics. It was going ok when the demand side had money to spend. We’ve had several decades of paying for that now.
Infinite growth in a finite reality. Numbers go up up up but minerals and food don’t exponentially grow, in fact they deplete.
Shareholder profit > sustained profit is what broke it.
There’s nothing wrong with say, Mark Cubans drug store model of 15% capped profits. If it were publicly owned however it’s legally liable to pump that up to infinity until the model breaks for shareholders to make quarterly gains. Short term thinking replaced long term strategy.
Even Costco knows you keep the $1.50 hot dog as a loss leader but if it were up to the ghouls in suits it would be $6.99 today and $7.99 tomorrow.
I don’t think the issue is growth related, I think it’s rather about more and more money going to the top 1%. And that issue is accelerated in USA due to badly regulated corporate capitalism.
Greedy shareholders and short time thinking are signs of that, because they keep getting away with it.
Looks like this isn’t going to change until there is a massive crash…
It’s the top 1% that is pushing for the short term gains… It’s being accelerated because everyone else and their pension funds try to match or beat them at it…
This wouid be my… Hmm… Third… I think…?.. Once in a lifetime historical market crash. The 2008 one stole my teenage years.
You know, guys, I’m starting to get this strange feeling that our economic model doesn’t really work.
Unfortunately, it seems we’re reaping what we sow by switching from Keynesian to Neoliberal economics. It was going ok when the demand side had money to spend. We’ve had several decades of paying for that now.
Infinite growth in a finite reality. Numbers go up up up but minerals and food don’t exponentially grow, in fact they deplete.
Shareholder profit > sustained profit is what broke it.
There’s nothing wrong with say, Mark Cubans drug store model of 15% capped profits. If it were publicly owned however it’s legally liable to pump that up to infinity until the model breaks for shareholders to make quarterly gains. Short term thinking replaced long term strategy.
Even Costco knows you keep the $1.50 hot dog as a loss leader but if it were up to the ghouls in suits it would be $6.99 today and $7.99 tomorrow.
I don’t think the issue is growth related, I think it’s rather about more and more money going to the top 1%. And that issue is accelerated in USA due to badly regulated corporate capitalism. Greedy shareholders and short time thinking are signs of that, because they keep getting away with it. Looks like this isn’t going to change until there is a massive crash…
Isn’t that just the other side of the same coin?
It’s the top 1% that is pushing for the short term gains… It’s being accelerated because everyone else and their pension funds try to match or beat them at it…