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Why are folks so anti-capitalist?
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this post was submitted on 20 Jul 2023
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The top 10% of Americans own 70% of the country's wealth.
Have you ever stopped to consider the logical conclusions of that? If they lived at the same standard as the average American, we would only need to use 30% of the resources we're currently burning through. It's grossly inefficient. We waste more than 2/3rds of our resources so that rich assholes can live in $100 million mansions and fly around on private jets.
Say you're an American working a 9 to 5 job. Once you hit 1 pm on Tuesday, you've done enough work for the week to meet all the actual needs for society. The rest of Tuesday, all of Wednesday, Thursday, and Friday are all just to pay for rich assholes to take a "hunting" trip to Africa and needlessly slaughter native wildlife. Or to buy the 400th car in their special collections that they've nearly forgotten about. Etc. Etc.
70% of the irreplaceble oil being drilled? Flushed down the drain just so that rich assholes can horde wealth. 70% of the pollution in the air? Put there so that billionaires can have parties on a private island. So that they can fly their private jets to private retreats and pretend to be outdoorspeople for a weekend. 70% of the new extreme weather being caused by anthropogenic climate change? All so that rich assholes can do things like jet around the world so they can say they've played a round of golf on 7 different continents in 7 days. Etc. Etc.
It's nowhere near sustainable.
Its important to remember that rich assholes buying expensive things is not a reason to hate them: that's envy. Rich assholes spending their money on expensive luxuries fund the luxury economy, which finds its way to the regular economy. That's how economies work, the money moves. The spending isn't the issue. It's the hoarding. You can't spend a trillion dollars. You can't spend a billion dollars. But you can keep it out of the economy. That's what keeps everyone else down.
It's like if the top 70% of the ocean was just fucking cement.
The word you are looking for is investment, while what you've described here is consumption. Investment is far, far better than consumption. One is adding to the market, and the other is removing things from the market that could otherwise have been put to much better uses.