Comment on What's the endgame when the rich have all the money?
iii@mander.xyz 2 weeks ago
Eventually they’ll amass so much of the wealth that most of the lower class won’t be able to purchase anything other than essentials like food.
What’s the logic here? Someone else having a high net worth, means that you have less money?
Jimmycrackcrack@lemmy.ml 2 weeks ago
Under the premise that eventually this endless growth cycle reaches some kind of an end point, then ultimately yes. The wealth has to keep increasing somehow. When you have have saturated every market, eliminated every competitor, captured every last regulator, innovated every last facet, optimised every metric, you have to start cutting wages, or replacing labour with machines. When evey worker is replaced or the wages are less than enough for survival no one’s getting paid. Who buys the stuff?
iii@mander.xyz 2 weeks ago
Exactly. It’s endless, so the premise is false. At a certain point they’ll just rename 100 dollar the neodollar, and it continues. It’s just bookkeeping, there’s no end.