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When Regulation, Not Capitalism, Creates Fake Jobsmises.org/mises-wire/when-regulation-not-capitalism-creates-fake-jobs
180 sats \ 5 comments \ @Undisciplined 3 Nov econ
by Alexis Sémanne
Among the criticisms of capitalism is that it supposedly creates meaningless jobs created by villainous capitalists to keep people docile. However, it is state power and regulation that makes many jobs little more than meaningless make work.
With all the Feds being laid off this year, and greatly reduced government funding for propaganda purposes, I've been thinking about how these jobs contribute to elevated prices. These millions of people were/are bidding up the prices of resources without adding to what's available to consume.
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142 sats \ 1 reply \ @SimpleStacker 3 Nov
These millions of people were/are bidding up the prices of resources without adding to what's available to consume.
I wonder how many people understand this. Surely they all know people in their lives like this. Why is it so hard to understand that public money amplifies this problem?
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0 sats \ 0 replies \ @Solomonsatoshi 3 Nov
If you don't like government services and taxes then go live in Haiti.
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0 sats \ 0 replies \ @Solomonsatoshi 3 Nov
Without government led investment in strategic industries like Rare Earths your entire modern economy if fucked.
You cannot even fight a modern war without rare earths.
Governments and their strategic investments in things like rare earths are crucial to the international competitiveness of their economies.
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0 sats \ 1 reply \ @kepford 3 Nov
capitalism is that it supposedly creates meaningless jobs created by villainous capitalists to keep people docile.
Maybe it's a brain fart but I'm not sure I have heard this one. That is absolutely absurd. I have heard plenty of complaints about jobs that have no personal meaning. Pushing paper for instance. Ironically computer automation tends to reduce these jobs though.
What is interesting about anti-capitalists to me is how often they completely contradict their own thesis.
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0 sats \ 0 replies \ @Solomonsatoshi 3 Nov
You need government investment to make rare earths. Without them you cannot manufacture most modern high tech products. Without rare earths you cannot even fight a modern war. Neoliberal western governments failed to invest in rare earths refining capacity and so now China holds you all over a barrel and Trump must Beg for them.
Funny how often Libertarians forget how US wealth and privilege is based upon military power projection and monetary hegemony. Its much less about capitalism then use of force and the threat of it that kept USA powerful and wealthy.
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