But you have to be aware that it depends greatly on your point of view of how economies should work. Do the dynamics of economics exist simply to push up the GDP or do they exist to create abundance and prosperity that everyone can take part off? The current economic system as it works simply exists to push up the GDP increasingly through financial alchemy, speculative assets and debt. Neoliberals will hold that this is good, but I’m not convinced because my eyes and ears tell me different. This is not a sustainable economic system, even if it looks good on the surface. Or more specifically it is not a sustainable economic system for the middle class. It is schrodingers economy in a way, good and bad existing in superposition.
This is why China keeps gaining ground, they plan for the long term and have high tolerance for short term pain. Their corporations don’t sweat a bad year, look at Huawei for example. An American company I think would rather sell of its assets and give every exec a gajillion dollars before going though the trouble of rebuilding themselves from being banned from one of their largest markets. Our corps only plan on a quarter by quarter basis, our government on 4 year terms, and entire organizations change plans on a bad day at the stock market.
It’s frankly ridiculous how short sighted we’ve become, and our economy really is emblematic of that short sightedness.
“The economy is bad, actually” is a wild take.
I think it’s the one thing everyone can agree on.
But you have to be aware that it depends greatly on your point of view of how economies should work. Do the dynamics of economics exist simply to push up the GDP or do they exist to create abundance and prosperity that everyone can take part off? The current economic system as it works simply exists to push up the GDP increasingly through financial alchemy, speculative assets and debt. Neoliberals will hold that this is good, but I’m not convinced because my eyes and ears tell me different. This is not a sustainable economic system, even if it looks good on the surface. Or more specifically it is not a sustainable economic system for the middle class. It is schrodingers economy in a way, good and bad existing in superposition.
This is why China keeps gaining ground, they plan for the long term and have high tolerance for short term pain. Their corporations don’t sweat a bad year, look at Huawei for example. An American company I think would rather sell of its assets and give every exec a gajillion dollars before going though the trouble of rebuilding themselves from being banned from one of their largest markets. Our corps only plan on a quarter by quarter basis, our government on 4 year terms, and entire organizations change plans on a bad day at the stock market. It’s frankly ridiculous how short sighted we’ve become, and our economy really is emblematic of that short sightedness.