Hacker News Reader

You should be getting a kick out of the rhyme. If the US had cared more about teaching history instead of promoting itself as everyone's savior, I wonder whether so many would have made such predictable blunders.

https://digitalcommons.pace.edu/plr/vol39/iss1/7/

~7% real rate of return on capital means that you are financially irresponsible if you didn't give up manufacturing in exchange for large cost savings. You might see repercussions in 30 years, but by then your savings increased tenfold. That applies just as much to the individual board member as to the government who's #1 priority was GDP growth.

That’s insightful, thank you

short term monetary gain for the politicians and companies?

These things were always going to work out for at least another 5 years, likely 10. So why not go for it, earn yourself a few million, and let the next one clean it up?

You only need to find a few to make it work.

It's simultaneously the most sad and hilarious part about it, the communists didn't need to seize the means of production, it was handed to them on a platter by western capitalists, in the pursuit of short term profit.