| ▲ | marcosdumay 4 hours ago |
| Because Marx theories do not hold up to reality, and most people can plainly see it. How is it working for the US to have every company mostly owned by the general public's retirement funds? |
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| ▲ | derektank 4 hours ago | parent | next [-] |
| >How is it working for the US to have every company mostly owned by the general public's retirement funds? It’s working quite well for retirees. |
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| ▲ | Aunche 4 hours ago | parent | prev [-] |
| > Because Marx theories do not hold up to reality Sure, but ownership being the root of inequality was the one thing that he was actually correct about. CEO to worker pay ratio is something that is completely irrelevant. Companies spend orders of magnitude more money on its shareholders (dividends, buybacks, and reinvestment) than executive compensation. |
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| ▲ | kevin_thibedeau 3 hours ago | parent | next [-] | | Global societies were still mostly agrarian in his time. His analysis doesn't work well for the modern era with <5% engaged in farming. Central planning won't work. You need distributed decision making to be flexible for changing circumstances. You need capital for industrialization and you need a cadre of people who can take risks to invest surplus capital into new ventures. The large disparity in wealth is a problem, but some is necessary. | |
| ▲ | p_j_w 4 hours ago | parent | prev [-] | | Maybe others see it differently than I do, but the actual spending isn't so much the issue. It's the fact that these people with so much money exist at all. That much money translates to a tremendous amount of power which allows them to bend the law to their will. | | |
| ▲ | wavemode an hour ago | parent [-] | | Is there any large-scale economic or political system which does not contain a group of elites possessing "a tremendous amount of power which allows them to bend the law to their will"? Not a theoretical one, but one existing in real life. |
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