It was purposeful. The people in charge of capital are known to not produce anything, and that infects ever person down the line. Until of course you get to the actual producer, who gets paid the least while doing literally all the work.
It is inherited wealth. Business acumen is not hereditary. Without a meritocratic social structure, exploitation is the only way the incompetent maintain hegemony. Like 47 could have stayed on Epstein island fucking kids his entire life after putting all of his inheritance in US government bonds and would have far more wealth now than in real life.
It was Jack Welch, and it was during the 1980s ‘Yuppie’, ‘Greed is Good’ era.
Fiduciary duty is cancerous in a way that has really accelerated Capitalism. It encourages businesses that would otherwise be entirely sustainable at a small size attempt to grow until they are incompetent, which causes a consistent breakdown/selloff cycle.
Imo this is a function of pensions being purposefully replaced with 401ks. It pinned more and more retirement funds to the performance of a stock market, ostensibly to encourage employees to feel staked in the company stock performance. But it was just a clever way to get away from direct-deposit pension funds.
Somewhere along the way we built a system that doesn’t actually require you to do or make anything. And that’s been absolutely horrible.
It was purposeful. The people in charge of capital are known to not produce anything, and that infects ever person down the line. Until of course you get to the actual producer, who gets paid the least while doing literally all the work.
It is inherited wealth. Business acumen is not hereditary. Without a meritocratic social structure, exploitation is the only way the incompetent maintain hegemony. Like 47 could have stayed on Epstein island fucking kids his entire life after putting all of his inheritance in US government bonds and would have far more wealth now than in real life.
It was Jack Welch, and it was during the 1980s ‘Yuppie’, ‘Greed is Good’ era.
Fiduciary duty is cancerous in a way that has really accelerated Capitalism. It encourages businesses that would otherwise be entirely sustainable at a small size attempt to grow until they are incompetent, which causes a consistent breakdown/selloff cycle.
Imo this is a function of pensions being purposefully replaced with 401ks. It pinned more and more retirement funds to the performance of a stock market, ostensibly to encourage employees to feel staked in the company stock performance. But it was just a clever way to get away from direct-deposit pension funds.
We decided to do everything in the fake-world economy because the real world is too complicated.