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Comment by cromwellian

Blaming the fed is a common libertarian tactic to avoid blaming the capitalists. Oh yes, in a pure anarchocapitalist Austrian utopia, you'd never have capitalists paying workers shit wages, employing child labor, forcing workers into unsafe firetrap buildings, etc

It's a way of averting ye eyes from the real problems with the negative externalities and market failures, and the hard work to come up with policy solutions that patch the holes in capitalism.

The analysis of the OP also ignores the decreasing returns to labor investment and increasing returns to capex because of automation which almost guarantee that the bulk of ROI will accrue to capitalists in the future.

Hire some (temporary) middle class workers to build your robot factory or automated logistics warehouse, fire most of the workers in your old factories/warehouses, and watch as more net income is transferred.

parent cromwellian 5 years ago

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