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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhy capitalism cant survive without socialism
by Sean Illing at Vox
https://www.vox.com/policy-and-politics/2017/7/25/15998002/capitalism-socialism-peter-thiel-wall-street-eric-weinstein
"SNIP...........
We think of capitalism as being locked in an ideological battle with socialism, but we never really saw that capitalism might be defeated by its own child technology.
This is how Eric Weinstein, a mathematician and a managing director of Peter Thiels investment firm, Thiel Capital, began a recent video for BigThink.com. In it he argues that technology has so transformed our world that we may need a hybrid model in the future which is paradoxically more capitalistic than our capitalism today and perhaps even more socialistic than our communism of yesteryear.
......
Weinsteins thinking reflects a growing awareness in Silicon Valley of the challenges faced by capitalist society. Technology will continue to upend careers, workers across fields will be increasingly displaced, and its likely that many jobs lost will not be replaced.
Hence many technologists and entrepreneurs in Silicon Valley are converging on ideas like universal basic income as a way to mitigate the adverse effects of technological innovation.
.............SNIP"
brush
(53,778 posts)everything through hostile takeovers?
Then the battle would really began as the long knives would come out amongst the execs of the corporation as to who would be king.
There would be no thought to the rest of the unfortunate "others" other than how much to spend on security to keep them in check and how much on crumbs to keep the useful eaters among them alive.
leanforward
(1,076 posts)Corporate efficiency has done in the middle class. In that context, we (you) can never go back to that time.
Nobody wants to pay more for anything, than can be afforded. Where do those folks and families go to return to those golden years in the rust belt states.
What I see is we will have to institute socialism to handle those folks and communities that are left with nothing. You'll have to find a job won't work at the current minimum wages. To me, ANY corporate job leaving a community MUST/WILL pay into social welfare for those jobs lost in that community.
I'll support a universal basic income. This crap about reducing taxes to the mega rich is RIDICULOUS. Taxes are payment for the benefit of being able to acquire so much wealth.
For pRezident dRumpf, follow the money. They're crooked.
AntiFascist
(12,792 posts)if people turn against capitalism, as happened during post Depression times, then some perverted form of Nationalism could fill the void as did with Fascism.
applegrove
(118,659 posts)happening to people other than the billionaire class. Still interesting. But he thinks billions will isolate his class from dramatic change. Does he not know Thiel got citizenship in New Zealand as soon as Trump was elected? That's a change. I bet the predictors of the future have woken the billionaire class up. This is not sustainable.
TheBlackAdder
(28,201 posts).
Each one is destined to failure as there are no checks and balances.
According to John Winthrop, during his voyage in 1630, stated that the excess wealth of the rich should be distributed to the poor at least once per year. This was an original premise of this country. On Ronald Reagan's final address, he quoted Winthrop as his favorite read. This "Model of Christian Chariey" is the work which includes the famous "City on a Hill" line, which almost all Republicans misquote as "Shining City on a Hill."
Why? Because Reagan fucked up his own favorite work and Republicans are too stupid to read it for themselves.
Oh, and in Adam Smith's, "The Wealth of Nations," he mentions the Invisible Hand of Capitalism... yet, before that he writes that there should be a graduated tax structure where the wealthy pay more than their fair share to fund the state. Of course, you'll never hear a Republican mention that.
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