| ▲ | nenenejej 2 days ago |
| Late stage capitalism? |
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| ▲ | 0xbadcafebee 2 days ago | parent [-] |
| That term is more a reference to globalism, consumerism, multinationals, wealth inequality, etc. It's been overused by the public to mean "anything I don't like that has some tentative link to capitalism" |
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| ▲ | lurkingllama 2 days ago | parent [-] | | Surely a component of late stage capitalism is the accumulation of wealth leading to anti-competitive practices, in this case resulting in degradation of quality of service. Health care in the US isn’t a competitive business therefore it’s rife for anti-consumer, profit-maximizing change. | | |
| ▲ | 0xbadcafebee 2 days ago | parent [-] | | But you can have all those things without late-stage capitalism - and private equity predates late-stage capitalism. So saying "it's because of late-stage capitalism" is like saying "it's because of democracy". The private equity is happening within a democracy and late-stage capitalist system, but these are correlations, not causations. | | |
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