Nortaneous wrote: ↑Wed Jun 11, 2025 6:30 pm
As a talking point, "infinite growth" falls entirely flat - when growth ends or substantially slows, which has been predicted as many times as the end of the world and is about as inevitable, there will be no routes for the ambitious, for those who want to better their lot in life, that aren't zero-sum. Degrowth is a flawed idea not only because growth is a necessary input to the military power to resist foreign conquest but also because, if everyone agreed to do it, the only way to get ahead in life (which people who grew up with reliably potable tap water and three fresh meals a day take as reflecting poor character, because they are fools) would be through violence.
By growth you refer to economic growth, right? Why would that be necessary to resist foreign conquest and technological, diplomatic or strategic improvement? Why would resisting foreign conquest be a major priority in deciding whether to have growth or degrowth and not the survival of humanity or the rest of life on Earth? Why would the only way to get ahead in life would be through violence and not through displaying virtue or showing educational or physical or artistic prowess? The meaning of the bracketed part appears unclear.
Travis B. wrote: ↑Tue Jun 10, 2025 5:01 pm
They may be shareholders, but they cannot live off of simply
owning capital, hence they are still workers and not bourgeoisie.
They reasonably expect to live off of simply owning capital in the future, i.e. retiring - or at least being able to take a part-time job, etc.
Nortaneous wrote: ↑Wed Jun 11, 2025 6:30 pm
(As a person who lives and makes life decisions in a country, I definitely have some objections to the strength of the incentive gradient that the US's wide range of incomes represents; as a person who lives in an economy that produces goods and services, I not infrequently encounter the downsides of concentrating the talented and conscientious in a handful of fields mostly engaged in the supply of professional services to businesses
What downsides do you notice?
MacAnDàil wrote: ↑Wed Jun 11, 2025 5:50 am
Nortaneous wrote: ↑Mon Jun 09, 2025 8:09 pm
The poor work and don't own; the rich own and don't work; the middle class do both.
Alice is a technical writer ($85k/yr, 40 hrs/wk) with an asset portfolio including part-ownership of McDonald's and Nike. What class is Alice?
Bob is an Amazon warehouse manager ($80k/yr, 40+ hrs/wk) who lives frugally in order to maximize the amount of money he puts in the Vanguard S&P 500 ETF. What class is Bob?
Charlie is an experienced welder ($36.00/hr) who does the same thing as Bob. What class is Charlie?
Dan is an experienced welder ($37.50/hr) who's not so good with financial instruments and doesn't really know what stock markets are. Most of his net worth is in his house. What class is Dan?
What about Ewan who has one fo those jobs but neither house nor stock?
Depends on local cost of living but likely poor financial planning. $36/hr full-time is $72k/yr. Median personal income for full-time employed US workers is about $62k/yr.
[/quote]So because the person would earn greater than the median wage but not a house (I just saw that 65% of Americans own houses), they probably mismanaged their resources? Or perhaps did not intend to get that because that was not important to them? What about somebody earning less?
What about those neither earning nor owning?