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by CRConrad
1835 days ago
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> Our society is not capitalist. New currency is constantly being printed out of nothing and pumped into the system. That's not a free market. I don't know which it's more of; mysterious or annoying that people keep repeating this... simplistic fallacy. WTF does one have to do with the other?!? "Capitalism" or "a free market" is how the game is played or what it is about; "currency" or the monetary supply is just the markers used to count points in the game. They're not the same thing. In the game of Monopoly new currency is injected constantly, when players get 200 $ (? IIRC) for completing each lap around the board. Does that make the goal of the game not about amassing all the money[1] and bankrupting the other players? No, of course not. The goal of the game and the markers used to count progress towards that goal are different things. Conflating them is committing a stupid fallacy, even more so in real life than in the game. ____ [1]: All the money in circulation, regardless of how much that happens to be. |
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If two people own shares of a company which grows at 10% per year; one person owns $1 million worth of shares and another owns $1000 worth of shares. The first person gets $100K worth of additional wealth in the first year, the other person gets only $100... Then the following year, the compounding effect increases the gap between them even more.
Even if that growth was completely natural (no central bank intervention), it would still be unfair... But what makes the system so incredibly unjust is that all this growth is ARTIFICIAL. The central banks print money and push it into the economy; the institutions on the front line then basically use that new money to pay one another for services; thus wiping out each other's debts using the freshly printed money. It's a giant, multi-layer pyramid scheme.