this post was submitted on 13 Feb 2024
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Our capatilism worked post WWII. Then the gaps grew. If ownership still took modest gains and were closer to the workers, it would work. Now the gap is so great, they won't change until there is a revolution. Either in government, or the standard kind in history.
Gaps grew (in part) because of capitalism. Back when the previous generations were working- people were compensated fairly and given regular raises... it wasn't uncommon to work for the same company until you retired. What changed? Line goes up above all else. Cut raises, mandatory pay cuts, layoffs etc. Line went up. But that has an effect that amplifies over time.
Raises were largely responsible for offsetting inflation - this is the gap that steadily widened. There are of course other factors but most of these are, at least in part, also effected by inflation.
Generally speaking capitalism works, sure. But this is no longer capitalism. We have too big to fail, price fixing to choke out competition, and a governing body bought and paid for by megacorp.
Competition drives that gap, Capitalism is still what drove that chance.
We did it for a hundred years without the gap being that big. I credit greed as the problem.
Society is driven by material conditions, not people and ideas. Capitalism's competitive nature drove itself to increasingly exploitative measures.
Which can only happen when markets and corporations are deregulated.
A 20% increase in worked productivity should result in a 20% increase in employee compensation under the force of law.
Executive compensation should be limited to 3-5x the average or median employee compensation (whichever is lower) under the force of law.
Corporations are not people and should not be given the same rights as people, such as the right to free speech. If we are going to treat them as people, then any action that would result in a person going to jail for 5 years should result in a 5 year ban on doing business. Crimes like...oh, I don't know... killing 1000s of people or causing millions to lose their homes should be punished by permanent dissolution.
All workers, from janitors to executives, should be compensated via the same medium. If the exec gets paid in stock them everyone does. If the janitor is paid hourly/salary, then everyone is. Again, all under the force of law.
The highest marginal tax rate should be 100%. No individual should have access to $1 billion. That last penny in the millions and every cent afterward is totally taxed. You won capitalism. Congratulations.
I really do think that humanity is innately both cooperative and competitive l. Harnessing that cooperation is a proven and highly effective means of sriving society forward. Harnessing that competitiveness is a proven and highly effective means of improving material conditions within thay society, AS LONG AS THE PLAYING FIELD IS LEVEL.
Nobody wants to watch a sporting event where 1 team has to play handcuffed. That might be a bad analogy. The more I think about it that could be funny. But if it was always the same team that had to wear them, it'd get old pretty fast.
Did you mean “regulated?”
Everything you've said assumes the playing field was at one point fair to begin with, really.
Don't get me wrong, I would much prefer a more regulated Capitalism than what we have now. However, what we have now is a result of Capitalism and the power of accumulation it has, as those in power stack the deck in their favor. To rely on good people in government fighting back against Capitalists is to rely on hopes, not plans.
Workers should share ownership, without a Capitalist. Plain and simple.