• ☭ Comrade Pup Ivy 🇨🇺
    13·
    1 day ago

    Honestly this has become the funniest article written to be serious I have ever seen “Oh no the billionares cannot control the government or do whatever they want, feel bad for them” is hilarious to me

  • pancake
    28·
    2 days ago

    Rare FT “China good” moment /s

    Or so it would be if people wouldn’t personally relate to billionaires for some reason.

    • ☆ Yσɠƚԋσʂ ☆OP
      25·
      2 days ago

      I’m sure FT target demographic does, but it’s a great article to send to people who keep talking about China being just like the west.

  • comrade-bear
    17·
    2 days ago

    Man my brain hurts as I start to read the article and it says that the writer has a chair in the rockfeller institute and wrote a book called what went wrong with capitalism, which is just about the weirdest thing ever

    • buckykat [none/use name]@hexbear.netEnglish
      17·
      2 days ago

      Excerpted from the blurb for this “what went wrong with capitalism” book:

      What went wrong with capitalism? Ruchir Sharma’s account is not like any you will have heard before. He says progressives are right, in part, when they mock modern capitalism as “socialism for the rich.” For a century, governments have expanded in just about every measurable dimension, from spending to regulation and the scale of financial rescues when the economy wobbles. The result is expensive state guarantees for everyone—bailouts for the rich, entitlements for the middle class, welfare for the poor.

      He thinks what went wrong with capitalism is that’s it’s not as laissez-faire as the robber baron era anymore.

      • comrade-bear
        3·
        22 hours ago

        About what I was expecting. Cause the correct content for this book would be: we, we(Rockefeller institute) made it go bad

      • anarcho_blinkenist [none/use name]@hexbear.netEnglish
        11·
        1 day ago

        Ruchir Sharma’s account is not like any you will have heard before.

        proceeds to say the same monotonous sleight-of-hand changing-the-name-of-things-and-thinking-you’ve-changed-the-thing-itself garbage every bourgeois economist left of Murray goddamn Rothbard has shit out then re-shit out from their overpaid university institutions in a nauseating cycle for a hundred years

        This is literally the same “road to serfdom” (also a terrible book) mont perelin garbage that has been bandied about by liberal bourgeois economists for a century, and is still as detached from the material reality and interests and the actual nature of political-economy and the state behind these inevitable realities. I’m unreasonably pissed at that blurb for being so goddamn bad and historically illiterate. gulag

        both of them. author and blurb-writer. go to the gulag and be reeducated. You must transcribe Marx’s Captital by hand 3 times, with select chapters chosen by the central committee to be transcribed 10 times each.