Links — 15 Nov 2018 ~ Mike Norman Economics

Kaivey said...: I don't know how we can stop civilisations coming to an end. As small rural societies combine to became countries small businesses become large business and eventually very large businesses, like Amazon. These large businesses then destroy the smaller businesses and the middle class gets hollowed out, but without the middle class societies dwindle and begin to collapse.

The big corporations and the mega rich can also corrupt governments to escape paying their taxes. The tax burden then falls on everyone else who are forever losing revenue as the corporations use the market, which they have distorted, to forever lower their wages, but lower wages means less taxes collected.

The economists, the media, and most Conservatives cheer capitalism, but it has a built in self destruct button. It might last over two hundred years but it will eventually destroy itself.

One answer would be to aggressively break the big companies up. These big companies will argue that they need to be big to compete with foreign companies, like Alibaba, but really this shows that globalisation doesn't work.

In the end at we need big government and lots of regs to sort it out, but how do we keep the ruling elite of our government? We have the know how and the science to work out the optimum way to run a society, but will human nature allow it?; November 16, 2018 at 4:33 AM

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