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180 sats \ 15 replies \ @Undisciplined 19h \ on: Generation C: The Confused and Economically Illiterate Ones (WSJ, Andy Kessler) econ
I wish that differed more from all the other generations but it seems to be the norm.
People hate producers and admire looters, maybe because looters might give them free stuff.
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Eh, I'm not old. Tell Siggy!
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You’re old in spirit
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in spirit?!
them are fiiiiighting words
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Somehow we make progress.
Sometimes we also don't :(
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Much of our issues stem from how self obsessed we have become. The US has always had a more individualistic culture but even in the collectivist movements people love today it's mostly self centered self actualizing that is valued.
I think this explains much of the sexual and identity confusion as well as depression. Humans seem to self destruct when we don't have a higher purpose. Something bigger than ourselves. Even though I do believe in individual libery and the ideals of libertarian and anarchist philosopy there does need to be some grounding in a cultural heritage. A religious tradition, something outside of one's self.
It seems to me that when we reject religion and we reject nation, something has to fill in the void, and that something might very well be Marxism, socialism, communism. The appeal of socialism is not hard to understand, what's hard to understand is how bad we have been at explaining why we have everything we have due to free markets.
My theory is that far too many leaders actually haven't rejected the ideas of Marx fully and therefore they cannot refute socialism because they themselves adopt many of its methods and ideologies. Young people are right to question corporatism. They are wrong to question free markets, but the idea that crony capitalism is causing most of our problems isn't 100% wrong.
One of the best one-liners I've heard from the left wing is socialism for corporations and capitalism for the poor.
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This is how "capitalism" was originally used, as I understand the etymology.
Crony capitalism is about distorting the markets so that the cronies can accumulate financial capital. That strategy only makes sense in a capitalist context. In a centrally planned economy, the cronies would be accumulating some other type of power.
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Crony capitalism is about distorting the markets so that the cronies can accumulate financial capital. That strategy only makes sense in a capitalist context.
Ah, thank you. I wasn't aware of that nuance forming a key part of the accusation.
In a centrally planned economy, the cronies would be accumulating some other type of power.
The political cadres in communist systems were/are exceptionally wealthy. Wouldn't that also fall under crony capitalism?
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There are different kinds of wealth
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@Undisciplined nails it as usual but I am using the term that I commonly hear. They actually just say capitalism but their working definition is more accurately called crony capitalism. Capitalism can function without the state. Just as there could be socialism without the state. In theory at least. This is was left anarchists and some communists envision. Anarcho-capitalism is the other extreme.
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USA produces very little except military hardware and financial derivatives- death and debt.
US economy is dependent upon its exceptional privilege legacy of the petrodollar.
China produces the goods the world wants at the best price and now controls the supply of multiple strategic materials without which the US military industrial combine is crippled.
China won the trade war by Producing Things People Want.
USA lost it by forgetting Capitalism 101 - Wealth is built on what you produce for others.
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I like looters,too . And hooters
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