this post was submitted on 11 Feb 2024
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A Boring Dystopia
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That one is actually weird.
People with more education draw higher salaries. That only works because employers make a higher profit with better educated people. Which means that for profit-maximization, you want to have a pool of potential employees that is maximally well-educated on the expense of someone else. Note the push for more STEM graduates.
You'd think businesses would be all for tax-funded education for everyone.
One can argue that we have two kinds of capitalism. And that would be true for the classic, theoretical capitalism.
However, the modern one favors short term profit and stock prices. Which do not care if economies collapse in 20 years due to global warming, as long as the profit is good now.
Why should they care? In 20 or 30 years most of stockholders would be dead anyways. And not being hypocritical here, I probably do the same in their positions, as most of the people.
Therefore its a systematic failure of modern capitalism. As it is not accounting externalities