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Capitalism is not favored by millennials

Regular Contributor

Re: Capitalism is not favored by millennials

That actually is an Interesting Thought Experiment.

 

If everyone had the same amount of money, I think a lot of people just wouldn't show up to work the next day.

 

However, I would suggest a system whereby everyone was born with a trust that held an equal share of 50% of the worlds resources.

 

The other 50% could continue to be held by utilities, government, and wealthy citizens. - You see, the wealthy wouldn't otherwise take very kindly to being thrown out on the street. - But, simply appropriating half of their wares wouldn't exactly change their lifestyle either, not one iota.

 

The problem is that the education system would have to fundamentally change... which would take a few generations to get everyone on the same page. Even then, we're still going to have a lot of stupid parents. So, the trusts would have to be setup so that parents couldn't access or control them.

 

You still couldn't prevent foolish people from cashing in their trust as soon as they turned 18. So, perhaps it would have to only allow gradual draw downs. Yet, it cannot be setup where people could just fail to show up for work, and draw down on their resources for their entire life. - That would cause the system to crash.

 

We essentially just need a system where the merits of hard work, intelligence, and good will... combine to equate the proverbial American dream. 

 

It can be argued that we already have such a system. However, the proof is that - far too many are continuously left behind, all over the world... and, through no fault of their own.

 

Conversely, no one person needs 20,000 acres of anything. So, that shouldn't be allowed unless they can prove that those 20,000 acres are being used towards bettering society in some meaningful way. 

 

Sure, there will always be lazy people with massive faults, that continue to lose out... as they should. However, at present, there are plenty of lazy people with enough land and money to never work again. But, this is primarily just wealth from past generations. - Yet, do lazy people really deserve to retain assets generated by someone else, without ever working? How does this improve or contribute to society?

 

Rather, we need a system that promotes merit, whilst providing everyone a leg up to start with. - So, that essentially no one can be born into poverty. But, everyone will absolutely have to work hard - including policy makers - to keep what they have.

 

Also, the value of hard work is not mutually exclusive from supply and demand. But, being a janitor is hard work, and since very few want to do it... its value should reflect its supply and demand. This would be mitigated by the fact that it's not rocket science, and anyone can do it. So, a rocket scientist or a doctor are still going to have more value to society, in their own unique ways.

 

We would ultimately need to reward skill and inventiveness over laziness... but, not to the point where anyone could ever get to the point that they would never have to work again, or encroach too far into everyone else's space.

 

Still, there would need to be price controls on supply and demand. We can't have people spending all their money on junk. So, the cost of things would also have to include a reflection of how they are valued to society as a whole... which means that some nice things would simply have to get less expensive.

 

It is a very complex discussion, and would likely take many generations to tweak, and value would continue to evolve based on technological advancements. But, working towards a collective equity is definitely worth trying... if being poor and malnourished, and underrepresented can be prevented, at the cost of just about zip - to the lifestyle of the aristocrats.

Message 21 of 30
Regular Contributor

Re: Capitalism is not favored by millennials

The other thing that so blatantly portrays Capitalism's hold over good policy... is what's known worldwide as, "Fat Americans."

Obesity is an outright epidemic in America... the land of the free.

Due to an inordinate amount of corn subsidies, we have HFCS (which our bodies cannot detect as sugar) in just about every food product.

Then we have non-stop fast food commercials on television, all day long... while we try to figure out how not to bankrupt a health care system.

Adverts on non-nutritious foods should be banned just like liquor ads used to be banned.

HFCS needs to be totally banned in restaurants and supermarkets, just like it already is in more civilized countries. Artificial cooking oils (that our bodies cannot digest) also need to be banned; over profits. - Both of these are already banned in many civilized countries.

The free market shouldn't be free to gradually poison the populace, to the point that we can't even manage health, without bankrupting its citizens in the process.

If you really think about it... Capitalism is more akin to cannibalism, in this sense.

Message 22 of 30
Super Contributor

Re: Capitalism is not favored by millennials


troylasvegas wrote:

I'm talking about a system that would focus on equal shares of the world's land and resources, that could be traded... and would increase or decrease based on societal norms, based on merit.

 

 


It is interesting that you mention merit.  In my workplace, bonuses and time off awards are supposed to be based on merit but it is the most arbitrary, unfair system I have ever worked under.  Hard work,  reuslts don't translate to successs because someone can have a bias towards you and or your project.  There are people who work hard and still may fail.  So many businesses fail, even good ones.  I don't trust anyone or any government to pick winners and loosers.  I'll take my chances on my own if you will. I'll take Capitalism over any other society since in all others I would either have to born to the ruling/politcal class or have wealthy parents.  I am sucessfull because I chose to work in a field that there is a demand for and that I had a skill at and I was lucky enough to go to an inexspensive city college.  Many of the people I work with come from very humble backgrounds and were also able to become sucessfull too.

12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 23 of 30
Regular Contributor

Re: Capitalism is not favored by millennials

For a second there it seemed like you were making my case for me.

Picking winners?

So, you'd rather that the same jokers and lackeys continue to play favorites? Think about it. Did they really earn it? Do they really deserve or merit it?

Also, we've precisely been born into an affluent society. So, basically we have the freedom to get far enough ahead that we may simply cash in our chips... and not actually do anything to contribute to society.

Many Americans, including myself, would certainly have to know more sacrifice than they have ever or will ever encounter, under a more equitable system.

That's not picking winners... it's just making sure that there are no born losers, and no losers that willfully do nothing but live off the fruits of affluence. - We can't have that, though! We Americans need to continue to be free to be lazy to add nothing and share nothing. All of this plunder was begotten fair and square, and we're just not sharing. Was it though?

That some of us have chosen meaningful, honest work - misses the point of the reality that affluent societies would have to step up to the plate; and, a lot of people would really rather like things to stay the same... and just pretend that rampant poverty doesn't exist, so long as they just keep it out of their own perview.

It would absolutely take a great deal of goodwill from the haves for things to change, which is why it cannot easily happen.

But, picking winners is not what we're talking about. It's actually the polar opposite of that.

Things like being born into poverty would simply be eliminated.

But, people would be free to screw up and be lazy... they just couldn't be wealthy and carry on behaving this way.

People wouldn't get to decide the fates of others without working their way up, on their own merits; not because they were born more well off than others.

There is surely a more perfect system to be had... but, Americans are collectively far too fat and happy already to see what's going on all around.
Message 24 of 30
Super Contributor

Re: Capitalism is not favored by millennials

I work in public service where people don't need to worry about being laid off  and there are more lazy people then what you would find in private industry so I don't think we can get to a place where everyone is doing their best for the common good when we remove the risk of say loosing their job.

 

 

 

12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 25 of 30
Regular Contributor

Re: Capitalism is not favored by millennials

I'm not advocating that.

I'm advocating the opposite... a merit based system, that simply prevents being born into poverty.

That doesn't mean laziness should be accepted or rewarded, except in retirement.

There are also a lot of lazy wealthy people, and lazy poor people. Laziness exists on both ends of the spectrum. Laziness simply cannot be tolerated.

Rather, a merit based system would reward both hard work, and innovation... without these rewards coming at the sole expense of many others.
Message 26 of 30
Regular Contributor

Re: Capitalism is not favored by millennials

The stock market is another good example of Cannibalism disguised as Capitalism.

There's really no such thing as Growth. There are just winners and losers.

Money does not grow here - without it coming out of someone else's pocket, or someone else's resources.

Think of the equity markets in terms of land. There's only so much land to spread around. It can't very well grow - beyond future technological possibilities. Even then, land is finite, beyond a journey into the stars... which we're not ready for yet.

Nevertheless, in order for a portfolio to grow, it essentially has to encroach into everyone else's space, leaving less space for everyone else.

It's the fundamental flaw of Capitalism. That taking is rewarded over giving.

What necessity has social media filled for the world, that we couldn't easily do without? Yet, profit taking has been immense.

The problem with Capitalism is that vital innovation is only measured in how it can be capitalized on.

We could probably use water to fuel autos... but, since there's not enough money in that, we cling to the last vestiges of oil.

Health is only valued for its profits, so screw whether people are actually healthy. - What else can we sell them under the guise of keeping them coming back to get healthy?
Why not try to actually make people healthier? Bah! There's no money in that.
Message 27 of 30
Regular Contributor

Re: Capitalism is not favored by millennials

Gah...

 

I'm not trying to poke the bear here but I am curious enough to ask.

 

With respect to GrasshopperStudent and his request to not turn this post into a political discussion shutdown, do you consider yourself a millennial trusty? 

 

*edited to reflect a members changed name

 

 

Message 28 of 30
Regular Contributor

Re: Capitalism is not favored by millennials

I understand the frustration that the millenials are feeling. Each generation has to struggle to make ends meet at first, and it seems like all the really good jobs are taken by older people, who refuse to leave them. I had to just wait for my opportunity, like each generation before me. The real problem is that the wait is getting longer and longer for each generation, and maybe it has reached a point where it is too long.

 

I don't know the solution. Maybe double the Social Security payroll taxes and let people retire much younger with a pension that will make ends meet. Instead, they keep pushing retirement out longer, because they don't want to raise taxes. This makes people's bodies break down and they end up on disability after 55 anyway, which will bankrupt the current system. Let us retire at 55, or even 60 again without breaking our bodies to do so.

Message 29 of 30
Regular Contributor

Re: Capitalism is not favored by millennials


kilroy8 wrote:

I understand the frustration that the millenials are feeling. Each generation has to struggle to make ends meet at first, and it seems like all the really good jobs are taken by older people, who refuse to leave them. I had to just wait for my opportunity, like each generation before me. The real problem is that the wait is getting longer and longer for each generation, and maybe it has reached a point where it is too long.

 

I don't know the solution. Maybe double the Social Security payroll taxes and let people retire much younger with a pension that will make ends meet. Instead, they keep pushing retirement out longer, because they don't want to raise taxes. This makes people's bodies break down and they end up on disability after 55 anyway, which will bankrupt the current system. Let us retire at 55, or even 60 again without breaking our bodies to do so.



While a noble idea, it would appear that the numbers cannot add up, due to obligations being mismanaged. One would probably have to double the input - just in order to keep the same output, the way things have been going.

 

Plus, Social Security only addresses retirement and disability. If we're trying to do better for everyone, than we would still need something that prevents being born into poverty. Also, western civilization is affluent, so there's really no excuse. But, being born into poverty is a huge issue all over the world.

 

Something that we could do relatively quickly... would be to improve the education system, so that everyone would receive 5 star instruction. It would take time, and the underlying systemic issues of struggling parents would need to be resolved to fully integrate the classes.

 

Essentially, as long as there are families that have to all but scavenge daily to survive... their kids are unlikely to value book studies like kids that get catering from servants for breakfast, dry cleaning & pressing of their uniforms, and a carriage ride to school. Also, we will likely always have some that believe that they are better than others, that proactively continue to use education as a firewall - in order to keep lower classes down. Until society can get past its fundamental human biases... such an equitable education system is unlikely to ever exist.

 

Message 30 of 30