Here’s a novel idea, or rather, a novel way of looking at two problems. First is the problem of what what call capitalism, which has clearly broken down in some key respects but is still so productive because of technology hat the system simply needs fewer workers. One solution to this would be UBI, sort of every citizen’s dividend just for being part of the modern industrial system. Another problem, also seeming to signal the break down of capitalism, is the proliferation of massive, well-established business “worth” billions of dollars which have never turned a profit. It is easy to write these off as symptoms of artificially cheap money or naive investors, but here is an alternative explanation: Perhaps the system is evolving and massive profitless companies are simply a way for services to be distributed below cost to people. These companies provide services people use and enjoy, but they don’t make money doing it. The service providing is, in a sense, at least to the extent that they are needed or enjoyed or beneficial, a social good provided below cost courtesy of capitalism.
2/25/21
- robby
- February 25, 2021
- Finance Blog