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this post was submitted on 11 Nov 2023
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GenZedong
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Well that is fundamentally wrong on its face. The people that own the highest valued companies didn't make shit. They bought or inherited it. (Obvious example being Elon Musk).
As for criticizing rentiers without any broader examination of the system the produces and enables rentiers is just trying to reapply Adam Smith to modern economics.
I'm not very smart but this all sounds very stupid.
He says they took advantage of new production processes, but doesn’t consider that those processes don’t do much productive.
lol in musks case okay yeah if you count carbon tax credit loopholes that allow you to basically print money as a "new production process"
Roderic/Mason has a bad analysis, yeah.
lol I'm at least well enough read that I have a decent bullshit detector.