The role of the consumer in late stage capitalism
mountainriver @ mountainriver @awful.systems Posts 2Comments 274Joined 2 yr. ago
mountainriver @ mountainriver @awful.systems
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2 yr. ago
I meant to put something in there about the similarities and differences with planned economies, but I kinda lost track of that.
Anyway, the profit driven capital allocation in theory allocates capital to production of goods people want - and thus presumably need. The hype driven capital allocation does no such thing.
In contrast with a planned economy, the real goals of the hype driven capital allocation are hidden by corporate secrecy and if presented would probably just be to collect tonnes of money for the richest people. In a planned economy at least there are goals like more toilet paper production, if people need more toilet paper.
In short the hype driven capital allocation is worse than planned economy.