We tend to think that markets reflect consumer choice. But the artificial-intelligence boom has been powered by the investment decisions of concentrated capital rather than by consumer demand.
Capital agglomerates until it is concentrated within a few massive, monopolistic corporations, controlled by a few powerful men.
Karl Marx takes a toke.
Capitalism as a public serving economy doesn’t work when it can be zerodayed by an entity with a resource advantage.
Before capitalism, when we were just doing markets and feudalism, the concentration of wealth at the top was even then a terminal illness for civilizations.
This time, the plutocrats at the top are richer (and proportionately richer) than they’ve ever been in history. They can literally buy the world out from under the rest of us. They can buy all the elections, bribe all the officials, and take over all the governments.
Watch what is happening in the United States: This leopard is totally coming to eat your face.
Capital agglomerates until it is concentrated within a few massive, monopolistic corporations, controlled by a few powerful men.
Karl Marx takes a toke.
Capitalism as a public serving economy doesn’t work when it can be zerodayed by an entity with a resource advantage.
Before capitalism, when we were just doing markets and feudalism, the concentration of wealth at the top was even then a terminal illness for civilizations.
This time, the plutocrats at the top are richer (and proportionately richer) than they’ve ever been in history. They can literally buy the world out from under the rest of us. They can buy all the elections, bribe all the officials, and take over all the governments.
Watch what is happening in the United States: This leopard is totally coming to eat your face.
Even orthodox capitalist economics will agree with that point.