When did American capitalism become such a zero sum game
When did American capitalism become such a zero sum game
One will never get rich on wages. The only way to get rich is through asset manipulation and rent-seeking.
If someone else can make it more efficiently, there's a powerful force for you to also have to improve to match that efficiency.
"Why is the airline experience so much worse than 50 years ago?" "It's massively cheaper per seat-mile, and consumers in aggregate reveal that they prefer the cheapest price that online travel searches, so airlines deliver to that preference."
I guess while I agree that American shareholders do reap incredibly benefits coasting is not really something america does. America is more than just shareholders too. You dont grow the world economy by coasting and you dont make up 25% of the world nominal GDP while only making up ~1/25 its population by coasting its inconsistent with reality.
I know we also argued that WW2 is what allowed the US to coast but I'd argue that New Deal programs that made demand and things cheap (like electric think TVA). This arguablely fuels American industry as it rushes to fill in the WW2 demand. All this investiment happend before WW2 even started and I think doesn't get nearly enough credit for allowing the US to 1 not become facists and 2 allows the US to step in and support the large demand of ww2 and post war. If we didn't invest in the nation we would not meet post-war demand and be much poorier today.
Finally, I don't want to be nilhistic or depressed if we can observer that we did things better at one point we can still choose a future that is better regardless of what mistakes we make today. We can make better choices albet it limited from today's options that will actually allow the US to raise people higher out of poverty. I don't agree with the idea of betting against Americian ingenuity in the long term it tends to lose.
Despite all of the problems that exist were still the best off.