Notices by Kyle Montanio (fantasticaleconomics@geekdom.social)

@aral

Even pro-capitalist folks should be able to recognize that the free market doesn't work in all cases. For instance, when the only way to 'compete' is by screwing over your customers, maybe it's time to try a different system.

Insurance most obviously fits into this category, and I think public utilities are similar (like the UK's privatized sewage disaster).

Prevention is, almost always, cheaper than treatment, but treatment is more profitable and will be pursued, almost always, in capitalist economies.

This simple rule can help understand healthcare, #ClimateChange, poverty, and the list goes on. In fact, I am pretty sure you can trace this back to, if not the root, a core consideration foundational building block of any arm of the #Polycrisis we are facing today.

#economics

Ready for news that will shock nobody? It turns out globalization mostly helps out the richest 10% and has little to no impact on the poorest.

"The influence of globalization on income inequalities worldwide was greater than we had expected. We were particularly surprised that these differences were mainly due to the gains of the richest and that the lower income groups benefited little or not at all."

https://phys.org/news/2024-05-main-beneficiaries-globalization.html

#economics #inequality #globalization

@Karstan

Much probably comes down to how you define it. If you believe "from the river to the sea" is antisemitic, then absolutely.

I am not fully sure about the history (though I have looked into it a little) and can see arguments on both sides. That said, all of the people, the students, I have talked to seem to be using it a support of Palestine rather than an attack against Jewish people.

But it lives in the gray area where one can interpret it whichever way fits their views, it seems.

(Neoliberal) Evonomic Theory: the pursuit of profits will ensure resources are put to their most efficient use, best meeting the needs of society.

Capitalism in Practice: potato-chip-holster-boots.

https://www.axios.com/2024/04/16/pringles-crocs-swicy-chips

#economics #capitalism #TeachEcon

Rescued a meme without alt-text.

Beyond including #UBI, the original version of what is now called monopoly had a cooperative or "Prosperity" mode.

The whole point of the game was to show how competing for profit destroys society!

The game was created to be a "practical demonstration of the present system of land grabbing with all its usual outcomes and consequences".

https://en.wikipedia.org/wiki/The_Landlord%27s_Game

#economics #capitalism