Comment on Wreck the economy because it only works for the billionaire class.

<- View Parent
BeautifulMind@lemmy.world ⁨1⁩ ⁨year⁩ ago

I like where you’re going with that!

I think the problems (of high inequality, of unsustainable resource use) are distinct, but related and can probably be gone after by targeting the same things: price gouging and suppressing wages.

If capital can’t do those things, labor will have the choice to work less if it doesn’t need the money to survive. We’ve long-since passed the point Keynes predicted (at which, productivity would be high enough to support people at a high standard of living without them working full time) in terms of production, the obstacle to that happening is that capital gets to allocate those surpluses and it keeps most of them

source
Sort:hotnewtop