(August 25, 2021 at 9:16 am)Spongebob Wrote: To try and pull this thread back from the abyss, consider how disproportionate our economic groups are in the US today. I understand the complexity of issues that got us here, but here we are and capitalism and our usual way of doing business does not look promising to change the way things are. Comparatively, the working class of the mid 20th century was doing quite well.
For the sake of argument, would anyone like to rebut that last statement? Are we just convincing ourselves that things are worse than they really are?
I think that income disparity is a dangerous state of affairs. Not sure about "being better off in the mid 20th Century." (Maybe. I'm no economist.) A strong middle class creates stability, that's for sure. But I think capitalism is good only insofar as it serves the working class.
Capitalism does serve the working class by fulfilling its consumerist desires. And that's important... something centrally planned economies struggle with. But I also think the working class needs more than its consumerist desires fulfilled. Healthcare, education, stable living environment. Capitalism leaves many people out in the cold as far as these go.