As an American I charge by the hour to service commercial and residential properties. My clients are mostly quite happy with my service. How is it that this is "cryonyism"?
You have no variable capital / are not a capitalist. You’re a laborer.
America Has Replaced Capitalism with Cronyism
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Re: America Has Replaced Capitalism with Cronyism
#12(2020). I don't see a full date on the article (we can probably blame SEO for that), but archive.org says it's from April 14, 2020.
It's April 13 2020 at 10:45 UTC-4 according to the metadata
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"datePublished": "2020-04-13T10:45:12.734-04:00",
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Re: America Has Replaced Capitalism with Cronyism
#13It’s really more this current iteration of capitalism.
It’s not so much the cronyism itself but just how large of a chunk of the pie they took this time. See salary vs house price trends. The remainder is so small that basic structures of society are starting to collapse (can’t afford education, house, kids, healthcare etc)
Had it not been turned up to 11 this could keep going.
Re: America Has Replaced Capitalism with Cronyism
#14As an American I charge by the hour to service commercial and residential properties. My clients are mostly quite happy with my service. How is it that this is "cryonyism"?
You have no variable capital / are not a capitalist. You’re a laborer.
TIL that an independent contractor with his own tools has no capital. LOL.
Re: America Has Replaced Capitalism with Cronyism
#15An honest look at modern history makes it hard, in my view, to identify this halcyon era of capitalism where "cronyism" did not run rampant.
Some lessons can be learned once, others need to be learned continuously.
It’s human nature. Just like corruption, you’ll never solve it only keep it at bay. Or political power grabs.
Same with cronyism. Actors have every incentive to bend rules to benefit them. The solution is to fight against it.
Re: America Has Replaced Capitalism with Cronyism
#16Just call them oligarchs and have done with the whole argument.
Wait, what happened to the robber barons? I guess they didn't have PACs.
Re: America Has Replaced Capitalism with Cronyism
#17"Cronyism" is the long-term result of capitalism. It will always result in this type of corruption, it's the nature of an economic system that rewards greed. Cronyism is just another way to say "Late Stage Capitalism."
Cronyism is something that will always happen when free markets mix with democracy. In the USA, this started before the end of the first Presidential term. It isn’t new.
All governments suck, all economic systems suck, and it all sucks because people are flawed. We can always try for better, but so far every system that humans design, humans also corrupt and destroy.
I would argue that we should all stop trying plan the activities of millions.
Re: America Has Replaced Capitalism with Cronyism
#18"Cronyism" is the long-term result of capitalism. It will always result in this type of corruption, it's the nature of an economic system that rewards greed. Cronyism is just another way to say "Late Stage Capitalism."
Cronyism is the end stage of everything. All political and economic systems ultimate tend towards dominance by a minority who refuse to lose, and warp the system to suit their interests until they are removed by one means or another. It's a concept so old it even as a word for it: Anacyclosis.[1]
[1] https://en.wikipedia.org/wiki/Social_cycle_theory#Polybius
Re: America Has Replaced Capitalism with Cronyism
#19This was capitalism, a beacon of hope for people who are smart, hardworking, and comfortable with risk, promising a greater share of the spoils to them than to those who are not. Wrong. That’s not what capitalism is or means. Capitalism is an economic system in which private investors run the economy in search of personal profit, while those who lack capital rely on wage labor to survive. You can debate whether this…
How do you prevent capitalism and dollars being free speech from turning into oligarchy?
Asking for a friend.
Actually, a few billion friends, come to think of it.
Re: America Has Replaced Capitalism with Cronyism
#20"Cronyism" is the long-term result of capitalism. It will always result in this type of corruption, it's the nature of an economic system that rewards greed. Cronyism is just another way to say "Late Stage Capitalism."
I see comments like this and I wonder what do people actually learn in school. Adam Smith wrote extensively about this (surely people still learn about him). His premise were people are naturally greedy, and it is good to use a system that pits their greed against each other. A natural competition to provide goods and services to each other. And it has worked well for hundreds of years, pulling billions out of poverty in just the last few decades. But yeah, government corruption is a problem in any economic system and democracy was supposed to be the check against cronyism.