The breaking point for revolution. But hey, their stock market is always rising = their economy is always doing good. Yes, but for the 10%.
American Economics Thread
- Thread starter Bernard
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#Vibession #GreatestJobMarket #GreatestEconomy #4MoreYears #BidenDelivers
Best economy in the world! But maybe for oligarchs, executives, asset-holding class, etc...
Most probably got outsourced to India, the big power, which has a big IT population.
My write-up on the fundamental state of the US economic system as a whole after these recent developments with Boeing. It's no secret that the US economically regressed in recent decades to the pre-industrial, feudal-level economic system that results in these kinds of situations.
It's feudalism with capitalistic characteristics in my opinion, the system perfectly reflecting the Western individualistic, selfish brains in general. Make them lose their colonialism privileges and they regress right back to their natural state.
Before the industrial era (and colonialism preceding it), their economies were largely agrarian and feudal. Wealth was often accumulated not through production or trade, but by owning land and extracting rents from those who worked on it. This was a classic form of rent-seeking, where the landowners didn't create value; they just profited from their ownership rights.
Nobility and those with ties to the monarchy often gained wealth through these means, rather than through commerce or industry. (Familiar to the US oligarchs, asset-holders, and corporations of today?).
When wealth accumulation in an economy becomes more about leveraging assets, financial instruments, and regulatory influence (as in rent-seeking) rather than producing goods and services, like it is today, it leads to economic inefficiencies, increased inequality, and stunted innovation/quality in general as seen from this example with Boeing but also many more examples.
Today's US economy is characterized by rent-seeking through financialization, monopolistic practices, and influence over government policies, rather than by innovation and production. This is more akin to the more static, hierarchy-based system of feudal times, they had for centuries, rather than a forward-looking, innovation-driven industrial capitalism they managed to kickstart thanks to advantages brought by colonialism.
It's feudalism with capitalistic characteristics in my opinion, the system perfectly reflecting the Western individualistic, selfish brains in general. Make them lose their colonialism privileges and they regress right back to their natural state.
Before the industrial era (and colonialism preceding it), their economies were largely agrarian and feudal. Wealth was often accumulated not through production or trade, but by owning land and extracting rents from those who worked on it. This was a classic form of rent-seeking, where the landowners didn't create value; they just profited from their ownership rights.
Nobility and those with ties to the monarchy often gained wealth through these means, rather than through commerce or industry. (Familiar to the US oligarchs, asset-holders, and corporations of today?).
When wealth accumulation in an economy becomes more about leveraging assets, financial instruments, and regulatory influence (as in rent-seeking) rather than producing goods and services, like it is today, it leads to economic inefficiencies, increased inequality, and stunted innovation/quality in general as seen from this example with Boeing but also many more examples.
Today's US economy is characterized by rent-seeking through financialization, monopolistic practices, and influence over government policies, rather than by innovation and production. This is more akin to the more static, hierarchy-based system of feudal times, they had for centuries, rather than a forward-looking, innovation-driven industrial capitalism they managed to kickstart thanks to advantages brought by colonialism.
I see you follow Prof. Michael Hudson closely
Why doesn’t he start with himself. What has he contributed to the company?