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posted by
martyb
on Saturday January 27 2018, @12:43PM
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
The 1% grabbed 82% of all wealth created in 2017
More than $8 of every $10 of wealth created last year went to the richest 1%.
That's according to a new report from Oxfam International, which estimates that the bottom 50% of the world's population saw no increase in wealth.
Oxfam says the trend shows that the global economy is skewed in favor of the rich, rewarding wealth instead of work.
"The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system," said Winnie Byanyima, executive director of Oxfam International.
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Only 1% of World's Population Grabbed 82% of all 2017 Wealth
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The last time I saw him he was walking down Lover's Lane holding his own hand.
-- Fred Allen
(Score: 1) by fustakrakich on Saturday January 27 2018, @04:04PM (8 children)
Capitalism is a collective, just like communism. And like in communism, the individual has no voice. Collectives must be formed to make a product worth producing. Other collectives must be formed to ensure they are safe. Big pharma won't produce vital drugs without a sufficient profit margin. Sorry kid! You're gonna die!
Capitalism is simple law of the jungle. And everybody does it. Even the commies have to conduct trade.
La politica e i criminali sono la stessa cosa..
(Score: 2) by The Mighty Buzzard on Saturday January 27 2018, @04:29PM (7 children)
Sorry, you're entirely wrong. Capitalism is based on the individual. There need be only two participants for it to exist and they are almost never going to be working towards the same goal, so they are not a collective except in the sense that they're two human beings in general proximity to each other.
My rights don't end where your fear begins.
(Score: 3, Interesting) by fustakrakich on Saturday January 27 2018, @05:16PM (6 children)
Capitalism is based on the individual. There need be only two participants...
Yes, that's the way it works when you're living in the sticks exchanging chickens for some firewood. It doesn't work that way when you buy a can of beans, or need a special drug to stay alive. The collective determines what you can have and how you can get it. It determines the programs you have available on your TV, the kind of car you drive, what you see on the shelf and in the theater. The collective sets the price and makes the rules. It takes a big collective to make and run all that shit. Where do you find custom made as the rule and not the horribly expensive exception? The individual is an ant, to be squished under foot. Nobody misses the individual, except maybe their mother.
Capitalism can't be judged by character, it's only the degree of openness that separates it from communism, which is really government managed capitalism. And let's not forget, capitalism depends on great military might to protect exclusive claims over natural resources. Without that, we would approach your stereotypical capitalism you describe above, between two individuals
La politica e i criminali sono la stessa cosa..
(Score: 2, Informative) by khallow on Saturday January 27 2018, @05:40PM (5 children)
No monopoly provider of beans means you're way off. And what kind of bean are you obligated to buy? Is it red, kidney, lima, black, white, green, chile, etc? That's just the beans I've eaten over the past couple of months. And each time I buy a can, my voice is heard.
As to the drug that keeps you alive, it's worth noting that a system doesn't have to work perfectly to work well. And these are invariably government-enforced monopolies either via the patent system or barrier to entry for competitors. In other words, they tend to stem from the least capitalist parts of society.
(Score: 2) by The Mighty Buzzard on Saturday January 27 2018, @06:11PM (1 child)
Well said.
My rights don't end where your fear begins.
(Score: 0) by Anonymous Coward on Sunday January 28 2018, @03:09AM
(Score: 3, Touché) by fustakrakich on Saturday January 27 2018, @10:56PM (2 children)
Trying buying a can of beans with just beans inside. And yes, if I am the only person in my neighborhood/town looking for kidney beans, I won't find any. Why would anyone bring any in just for me?
it's worth noting that a system doesn't have to work perfectly to work well.
Again, you're using statistics, like the communists. TMB is under the impression that the individual makes the rules. Yes, thy do, through collective action (heh, bargaining) of the market. Now, when 1% has all the chips, who do you think shapes the market?
government-enforced monopolies either via the patent system or barrier to entry for competitors.
Yes, capitalists need those barriers to makes those billions, along with a huge military to protect their exclusive property claims. So, how well will capitalism function without those protections?
The consumers have every right to use that same government to protect their interests. It's the only way for that other 99% to be heard.
La politica e i criminali sono la stessa cosa..
(Score: 1) by khallow on Sunday January 28 2018, @04:00AM (1 child)
I count six successful cases in my post alone.
They don't. They don't have my labor for starters.
Quite well, of course.
Or they can just not buy products they don't like.
(Score: 1) by fustakrakich on Sunday January 28 2018, @05:57AM
Or they can just not buy products they don't like.
You got it backwards. It's about being able to acquire the product a person needs at a reasonable price when there is insufficient market demand. Capitalism does not serve the individual, especially one with little capital. It is driven by a collective called the "market". There is no other word for it. Such as it is, more consumer activism is needed to create a balance or power. The best an individual can hope for is that everybody else goes along. And if they use it, the power of their vote can easily make up for their lack of capital.
La politica e i criminali sono la stessa cosa..