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Thatcher famously said "the problem with socialism is that eventually you run out of other people's money", but isn't it the best way to describe billionaires in late stage capitalism? (sh.itjust.works)
submitted 1 month ago by to c/latestagecapitalism@lemmy.world
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[–] 6 points 1 month ago (2 children)

This less famously led to the saying 'The problem with conservatism is you eventually run out of other peoples stuff to sell'

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  • [–] 3 points 1 month ago* (1 child)

    You eventually run out of people. People to work in your factories and to consume the products those factories make. If you don't pay a wage people can live on and the people who are working can't consume things then you don't really have an economy except for the military/security apparatus that's required to keep people from revolting. The end result of unchecked wealth and power is an autocracy and those end up failing economically in comparison to democracies. I like the analogy of a black hole. At a certain point too much power is concentrated in the middle and the whole system collapses in on itself instead of shining brightly as a star.

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