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Think young people are hostile to capitalism now? Wait for the next recession

theweek.com

161–170 of 309 posts

Re: Think young people are hostile to capitalism now? Wait for the next recession

#161

Wait until this soft gentle wave of climate activism fails...

We will see at least one war over climate change this century.

There've been arguments made that the Syrian Civil War was sparked over farmers revolting due to ahistorical droughts. I can't speak to their validity, but the first of many may have already happened.

Re: Think young people are hostile to capitalism now? Wait for the next recession

#162

Earlier quoted context omitted.

We will see at least one war over climate change this century.

There've been arguments made that the Syrian Civil War was sparked over farmers revolting due to ahistorical droughts. I can't speak to their validity, but the first of many may have already happened.

You could also argue the same about Kashmir; it's not so much about ancestral homelands as water rights.

Re: Think young people are hostile to capitalism now? Wait for the next recession

#163

In the US, it's less active protest and more things like slacking off heavily at work because it's a treadmill we can't win. We have absolutely no incentive to work hard when doing so doesn't materially affect income. We as a nation have basically told people "no, you can't have a comfortable life or save for retirement because your parents' generation still needs to get 10% annual growth to make their retirement mat…

>> We have absolutely no incentive to work hard when doing so doesn't materially affect income. Pride? Character? Respect from colleagues?

If we talk about usual corporate jobs, this is a joke, right?

If you want those, excel as moral human being overall and you will receive plenty. Being the best paper-pusher, bullshitter or excel in office politics won't give you any of those.

Re: Think young people are hostile to capitalism now? Wait for the next recession

#164
post #139

Maybe I’m naïve, but to me the word “capitalism” is not an “economic policy” that can be changed through deliberate action, but rather a framework of analysis that makes predictions on supply, demand, and pricing in markets that are varying levels of free. I’m confused when people in my generational cohort say things like “capitalism is unfair” or “capitalism sucks”, in reference to the system of government and benef…

"Capitalism" is used as the label for the policy one might more precisely describe as "regulatory minimalism"; the philosophy that opposes minimum wage laws, that opposes collective bargaining by employees, that opposes safety and environmental regulation, that opposes universal health care, etcetera.

This philosophy is associated with the term "capitalism" because its proponents tar any improvement of the social contract, acknowledgement of climate change, or balancing of negotiating power as "socialism/communism"- terms used interchangeably as a boogeyman rather than for any engagable definition, but always pitted as the opposite of "capitalism".

Re: Think young people are hostile to capitalism now? Wait for the next recession

#165

In the US, it's less active protest and more things like slacking off heavily at work because it's a treadmill we can't win. We have absolutely no incentive to work hard when doing so doesn't materially affect income. We as a nation have basically told people "no, you can't have a comfortable life or save for retirement because your parents' generation still needs to get 10% annual growth to make their retirement mat…

>> We have absolutely no incentive to work hard when doing so doesn't materially affect income. Pride? Character? Respect from colleagues?

That's a trick, doormat. Work to live, not live to work. Just think of the C level shit eating grins when you struggle financially, holding on tight to your pride...jeez

Re: Think young people are hostile to capitalism now? Wait for the next recession

#166
>On the other hand, 41 percent of those over 65 supported Biden, compared to 26 percent for Warren and an incredible 2 percent for Sanders.

it seems that the ones that grew up in a time when tax policy was closer to bernie sanders' are less likely to support him

Re: Think young people are hostile to capitalism now? Wait for the next recession

#167
post #137
post #55

I can't understand what people actually have against capitalism. Most of the times when I hear about the problems of my generation much of it comes down to personal choice. You don't have to go to an expensive college, you don't have to live in the "it" part of town, and you don't have to use your credit card. I've heard so many people complain about the injustices of the world, but at the same time they pay twice as…

This opinion leaves out many of the parts of living in modern society that go beyond what we can choose. Just as a quick example, in the US, you don't choose to get sick and fall into medical debt -- but capitalism underpins the health system that induces that medical debt (which is a major contributor to poverty [0].) It seems like you may be confusing the situation of the people in your immediate circle with the la…

> you don't choose to get sick and fall into medical debt -- but capitalism underpins the health system that induces that medical debt (which is a major contributor to poverty [0].)

The medical system not a free market. It is a hybrid of a state-controlled system and a capitalistic system. Here are some ways of how the system is state-controlled:

1. Hospitals cannot be freely constructed. One must apply for a "certificate of need" to gain permission from the government to build a hospital. This is not a free market.

2. Credentialism is BAD in our medical system. There is only one group of people approved by the government to do prescribe most medications and perform most surgeries - doctors. This is not a free market and greatly increase costs. Doctors earn a median of 300k/year and are the highest paid profession in every state. This is not a free market.

3. Hospitals are legally forced to treat anyone who shows up at their door - even if they can't afford the treatment. This is not a free market.

4. Medicare/Medicaid are forced to nearly buy any drug, regardless of cost, if it could save a live. Even if a drug is 500k/year, the system is forced to buy it. This is not a free market and greatly increases costs.

Re: Think young people are hostile to capitalism now? Wait for the next recession

#168
post #147

The proponents of current form of capitalism miss a big big aspect of free-market capitalism. That is: taking losses. Every capitalism proponent is so tied up to the stock market that they don't want to see losses. Thus they resort to policies that would somehow socialize losses. If you are really free market, you need to accept losses. - Let the FED not print money which causes inflation which is driving a regular l…

> The proponents of current form of capitalism miss a big big aspect of free-market capitalism. That is: taking losses.

It might be clearer if you just called "the current form of capitalism" crony capitalism. It's not free market and that's why I laugh whenever people say that capitalism is failing. Progressives won a long time ago (during the Progressive era) and crafted a massive government, instituted heavy centralized planning, and we're seeing the failure of the centralization of government play out today.

Re: Think young people are hostile to capitalism now? Wait for the next recession

#169

Earlier quoted context omitted.

> the establishment only permits fervent discussion about gender and skin color. Do they? Try making a case that we don't need more than two sets of gendered pronouns in your tech job.

So the pronouns thing is literally about being nice to people and respecting their ability to define their own identity. It's less "we need more than two sets of gendered pronouns" and more "people use pronouns other than he or she and we want to make space for that".

And any sort of diversion from that approved narrative, like suggesting that some of this is going a little too far, will make you a pariah in the industry. This is what I'm getting in, in questioning how much "the establishment" allows vigorous debate.

Re: Think young people are hostile to capitalism now? Wait for the next recession

#170
post #137

Earlier quoted context omitted.

This opinion leaves out many of the parts of living in modern society that go beyond what we can choose. Just as a quick example, in the US, you don't choose to get sick and fall into medical debt -- but capitalism underpins the health system that induces that medical debt (which is a major contributor to poverty [0].) It seems like you may be confusing the situation of the people in your immediate circle with the la…

> you don't choose to get sick and fall into medical debt -- but capitalism underpins the health system that induces that medical debt (which is a major contributor to poverty [0].) The medical system not a free market. It is a hybrid of a state-controlled system and a capitalistic system. Here are some ways of how the system is state-controlled: 1. Hospitals cannot be freely constructed. One must apply for a "certif…

I enjoyed your point about credentialism. If anyone is looking for a good primer on the issue read the "Occupational Licensure" chapter of Capitalism and Freedom by Milton Friedman.
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