"The new American oligarchy is here," said the CEO of Oxfam America. "Billionaires and mega-corporations are booming while working families struggle to afford housing, healthcare, and groceries."
The Vanderbilts and Rockerfellers and JP Morgans weren’t the ones bankrupted by the Great Depression. Elon Musk will not be the protagonist of the next Steinbeck novel. The “collapse” will just be further economic consolidation, until the people being squeezed are willing to resist their own exploitation as a collective unit.
If the stock market loses 90% of its value tomorrow, all that changes is valuation. The physical capital remains in the hands of the plutocrats as does the command over the bulk of human labor. And the pain we feel will be the consequence of policies they impose, not any real shortfall of goods or dearth of professional services.
Which is why we need to invest in non-capitalist owned economies. The more we grow these economies the more resilient the average person can be. Things like the CFNE need to expand https://cooperativefund.org/. More businesses need to be in a circular local economy where people’s needs can be met without the wealthiest getting profits.
The Vanderbilts and Rockerfellers and JP Morgans weren’t the ones bankrupted by the Great Depression. Elon Musk will not be the protagonist of the next Steinbeck novel. The “collapse” will just be further economic consolidation, until the people being squeezed are willing to resist their own exploitation as a collective unit.
If the stock market loses 90% of its value tomorrow, all that changes is valuation. The physical capital remains in the hands of the plutocrats as does the command over the bulk of human labor. And the pain we feel will be the consequence of policies they impose, not any real shortfall of goods or dearth of professional services.
Which is why we need to invest in non-capitalist owned economies. The more we grow these economies the more resilient the average person can be. Things like the CFNE need to expand https://cooperativefund.org/. More businesses need to be in a circular local economy where people’s needs can be met without the wealthiest getting profits.
Your second paragraph explains exactly why they’re all so horny for AI.