Yes, and people with power, people with connections, and people who are rich will always benefit from crises.
Naomi Kleins The shock doctrine explains this very well in a modern context.
Instead of ranting about deregulation why not look at how poorly controlled economies behave? There aren’t many functioning and what few exist aren’t doing great. Humanity is not smart enough to currently run a controlled economy effectively. That might change if actual AI exists but right now we cannot do it.
Remember the largest command economy in history, The USSR, collapsed mostly because of economic failures that were self created. The second largest command economy was the PRC who moved away from it to a hybrid system and has had greater stability since then.
Yes but “controlled/command/planned economy” refers to one where the state sets prices rather than letting market forces determine them. This is not possible to competently do right now with current technology.
The difference is nobody wants to fix them right now, instead misdirecting people toward “woke DEI” and “government waste” as if reducing these will magically fix the crisis.
Crises are a feature of capitalism. Marx talked about this. Things become hell for the working class, and the capitalists reap the rewards.
Yes, and people with power, people with connections, and people who are rich will always benefit from crises. Naomi Kleins The shock doctrine explains this very well in a modern context.
Adding to my reading list!
That being said there is yet to be a system that does not have crises.
We haven’t tried many
Humanity has, the one with the least propensity to experience crises is the one most nations are following.
Controlled economies are much less stable but Marx was unaware of that as economics in his time was less data driven and more philosophical.
Said in thread about how nuking the control over the economy is about to cause a recession. Yeah, sure.
Deregulation almost always leads to the working class being robbed, the land poisoned, and people killed.
Instead of ranting about deregulation why not look at how poorly controlled economies behave? There aren’t many functioning and what few exist aren’t doing great. Humanity is not smart enough to currently run a controlled economy effectively. That might change if actual AI exists but right now we cannot do it.
Remember the largest command economy in history, The USSR, collapsed mostly because of economic failures that were self created. The second largest command economy was the PRC who moved away from it to a hybrid system and has had greater stability since then.
Every economy is controlled in some way.
Yes but “controlled/command/planned economy” refers to one where the state sets prices rather than letting market forces determine them. This is not possible to competently do right now with current technology.
The difference is nobody wants to fix them right now, instead misdirecting people toward “woke DEI” and “government waste” as if reducing these will magically fix the crisis.
That simply isn’t true. There are thousands of economists all around the world trying to fix these problems.
What you are talking about is grandstanding politicians in America which isnt reflective of all nations.