Is capitalism in the US causing inequality? And is it ultimately unsustainable?

[msc545]

[RealMarek]

I wouldn’t call what we have a free market anymore. We give elites a huge advantage by allowing them to access newly printed money at the lowest available interest rates with collateralized loans. Common people are cut off from this source of capital. This serves to rapidly concentrate wealth within fewer and fewer hands, which is what the data are demonstrating. Meanwhile, the elites use mass migration to undermine the value of labor and inflation drives up the costs of necessities in real dollar terms. Regulations, and for some ESG and affirmative action, defend against upstart businesses or entry into lucrative positions that used to be attainable through merit. I have personally been affected by this and might be able to make something work through entrepreneurship, but believe me most entrepreneurial efforts fail especially without access to elites.

The mainstream conservatives misapprehend the predicament of the common people to be one of laziness. Of course there are lazy people. There always have been and there always will be. However, increasingly, the lethargy observed is a product of despair. By continuing to claim we have a free market and that hard work always pays off in this rigged system, they actually undermine belief in free markets among the common people, thus making it probable that whatever is tried after our current elites are circulated out of power (may I live to see that day!) will probably be some sort of dysfunctional socialism.

[inhua]

no shit. just look at the dating market. top 20% getting the majority of women's loyalty and the bottom 80% getting nothing but creep shaming, false rape accusations, divorce financial losses, child custody battles, infidelity and emasculation

every civilization that ever ended was like this and the only thing keeping current society this way is why indoctrinating young boys at an early age not to think for themselves otherwise there would be a revolution already

[OlderAndWiser]

Capitalism gives every citizen an opportunity to succeed but it doesn't force people to maximize on their opportunities. Does that mean capitalism causes inequality?

[msc545]

Capitalism most certainly does not give every citizen an opportunity to succeed; Capitalism legitimizes and normalizes exploitation and encourages and promotes corruption.

[OlderAndWiser]

Is that a quote from the Manifesto?

[msc545]

No. That is a quote from ME.

[OlderAndWiser]

Okay. That’s your opinion.

[msc545]

It is indeed.

[richardcory]

All societies I'm aware of have had inequality. Not saying it OK, but its apparently difficult to fix. Socialist / communist countries have had very high inequality. Social democracies may be OK, but most I'm aware of are in northern european countries that started out with a lot of resource wealth (like natural gas in Norway)

[Anonymous]

No. That's why it says in the constitution, "promote the general welfare". Not give people welfare.

There has ALWAYS been a working class and wealthy class throughout history. Even though some would say we have reached a new "gilded age". I would argue that business is nowhere near as corrupt as then.

I guess what I'm saying is the gov't has a very large say on how stich the rich can get. Even in the laissez-faire United States.

The role of gov't has always been to promote the general welfare. To Regulate the free market ONLY when it is unable or unwilling to do it on it's own.

So no, the pendulum swings one way it can always swing back so long as thier are good men of conscience at the helm.

[FinalFantasyBro]

No unfortunately people health issues are one of it's biggest problems we are facing in this country.

[msc545]

I agree with you that health issues are extremely important. However, I also take note of the fact that health issues are intimately tied to money issues which in turn are ultimately tied to capitalism and profit taking. As a health care provider, I can tell you that I order many procedures that are never paid for by health insurance because the health insurance companies have decided that they are too expensive. It has nothing to do with medical necessity much of the time.

[FinalFantasyBro]

Oh wow yes that makes sense because health insurance isn't cheap especially since going to the doctor cost a lot of money.

[msc545]

It isn't just that. It is also that health insurance companies have so much money that they have engaged in regulatory capture which means that they have either bribed or offered jobs to the very people that are supposed to be regulating them and the effect of that is to make regulation of them moot. There is also the revolving door effect where health company executives become regulators and regulators become health company executives. Sometimes repeatedly. When you have vested interests like that, you are not going to engage in too much punitive regulatory activity because essentially you are a regulating your next employer and you do that with a light hand if at all. Thus, The majority of regulatory decisions are favorable to health insurance companies and unfavorable to patients and consumers. Capitalism is at work here because corrupt regulators and health insurance companies are not only permitted to get away with these kinds of behaviors, but they are encouraged to do so by the system which simply names it normal capitalism and refuses to take any action at all.

[RolandCuthbert]

Why do people blame the system? When you have rich, powerful, unethical people running things any system will fail. The problem is why do we keep electing people who are rich, unethical, and powerful?

We need smart folks from regular backgrounds who have empathy and want to fix things on behalf of the nation.

[msc545]

Unfortunately, people with empathy don't get elected to public office. Psychopaths get elected to public office much of the time and they only care for themselves and not others. Additionally, we can't fix this with people. We need to fix it by making modifications to the system or replacing the system with something that is a little more resilient than capitalism, which just lends itself to corruption and personal gain at the expense of others.

[RolandCuthbert]

Again, where are these unethical, criminal lying individuals who care about the rules? This is basic physics. If I have power and I am a lying criminal, I am going to do whatever I need to change the system and make it serve me. That's why every corrupt system looks the same. A dictatorship with a ruling class.

[msc545]

Correct. Smart folks from regular backgrounds are smart enough not to go into public service.

[OfMiceandMen]

I agree, the system will never change for the better, until we elect trustworthy people that have morals and know what hard times are. These people who have inherited wealth, have no clue what the majority of people go through in their country just to attain basic/standard living conditions. There has to be someone out there, that doesn't bend to corruption and is willing to overhaul the system and work for the people they represent to attain the best possible outcome. Someone, not thinking about how to best line their pockets while in power or the book-deals afterwards.

[RolandCuthbert]

Then it is over. Because everyone claims politics is full of criminals. So it become a self-fulfilling prophecy. There are no answers down that path.

[RolandCuthbert]

@OfMiceandMen I think it is incumbent upon the regular folks in society to value honesty, morality, and fidelity to the law. If we don't, then we can't expect anything but what we get.

I don't buy into this deal of people being manipulated. Folks aren't manipulated. They vote for this disgusting mess with their eyes wide open.

[msc545]

you may not buy into it, but people in fact do get manipulated. Most people are not educated or intelligent enough to avoid it.

[RolandCuthbert]

Who's fault is that?

You can value education, truth, fact or you can value your politics.

[msc545]

Do you actually live in the US?

[RolandCuthbert]

Do you?

[msc545]

I do, yes.

[msc545]

which disingenuous path are you referring to in this instance?

[RolandCuthbert]

What does my status as a citizen have to do with my point? No one can blame the media or political candidates for their ignorance.

[msc545]

Please answer my question. "which disingenuous path are you referring to in this instance?"

[Anonymous]

No. We live in an oligarch society. We've developed into an empire not unlike the old Roman Republic.

[Anonymous]

No, it is the government being too powerful and work for interests outside of the people.

A lot of the problems we have today including the cost of healthcare is very illegal but the government won't do anything about it becuase they are being lobbied by these groups or they want this power for themselves.

[GoodGuyBreakingBad]

Yes, I believe this will continue to form into something bigger.

[Agape93]

It's one of the reasons.

[exitseven]

No, laziness is what causes inequality. People are created equal but some are more motivated than others. That's just the way the world is. It is part Darwinism and part luck.

[goaded]

"People are created equal". Absolutely! The children of Bill Gates are obviously born equal to the children of a poor resident of Flint, Michigan. Totally!

[exitseven]

@goaded that is where the luck part comes in.

[msc545]

Why is it that whenever you speak about causation it ultimately involves blaming somebody and making a moral judgment about them?

[exitseven]

Because most of the time I am right.

[msc545]

I understand that you believe you were right because you certainly wouldn't write things if you believed you were wrong about them. That said, you are also frequently in the minority in your opinions in regard to others. Surely this must have some impact on you?

[goaded]

So it's not really laziness, it's foolishly failing to pick the right parents.

[exitseven]

@goaded it is both. There are plenty of instances where people come from poverty and work hard and become successful. That is what makes America great. There are also people that waste the family fortune and end up on the street.

[exitseven]

@msc545. The outside opinion and me are old friends

[goaded]

There are dozens of examples, I'm sure. The countries towards the bottom of this graph are the ones where people are most likely to change social class during their lives.

[gothbxtch]

a resounding yes to both.

[summiter]

The rich keep getting richer it sucks

[riverrat3]

Big time, corporate socialism

[jimmy2]

No this is more s man/won't wrong but it goes on

[msc545]

What are you trying to say?

[rigmarole]

Nope.