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Kapitalism (reddthat.com)
submitted 1 year ago by to c/memes@lemmy.world
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Wojack one: "under capitialisim if you can do it better make your own and sell it, the market will decide whose is best". Wojack two: "I made a better product for half the price". Wojack one: "NO thats patent violation"
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[–] 12 points 1 year ago (3 children)

We hit a tipping point though, where 99% of people do not have any capital to risk

When do you think this tipping point was? Because as far as I can tell this was around the French revolution.

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  • [–] 14 points 1 year ago (1 child)

    In modern economics, a massive change came about in the early 1970s. Productivity and profits decoupled from employee wages, and continued to rise while wages stayed flat. Fast forward 50 years, account for inflation and shifts in technology, and it's easy to see that employee wages HAVEN'T RISEN in meaningful amounts for 50 years. Meanwhile, companies are making more money than ever.

    So, I'd say it was in the 70's.

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  • [–] 4 points 1 year ago

    Hmmm. Good question. I'm not an economist, but I'd say it was around the time Reganomics got started, maybe a little bit beforehand, since I think Reganomics was probably a consequence of the powerful having enough money to out-fund the general populace.

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