So for one minute of profit they could pay 350 people $25/h for a full day. 21000 people with a full hours profit!
this post was submitted on 29 Jun 2025
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Late Stage Capitalism
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Capitalism can end poverty for sure and was definitely a step up from feudalism.. it just happens to also birth a whole slew of contradictions within the social fabric.
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No, energy sources end poverty. There was plenty of capitalism before even coal, but lots of poverty.
I cannot take seriously any claim of the ultra wealthy “making” x number of dollars per minute/hour/day. That’s just not how wealth works.
I agree entirely. The rich don't "make" any money. They siphon it from the poor.
if I had a pile of gold, it would increase in value without taking from anyone. Generalized statements don't help your agenda when it's generalizing hatred towards others.
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That’s just not how wealth works.
Would you expand on that, in the context of previous replies that point out that this is meant as a simplified analogy of the value of one's own time?
How does wealth work? This is not a loaded question.
I think my point isn’t being well taken, or perhaps I phrased it incorrectly. I certainly agree with the sentiment that wealth disparity is maybe the biggest problem we face.
The vast vast vast majority of the wealth of the uber wealthy come from the assets they own. If they can be said to “make” money over the course of the year, it’s as a result of those assets increasing in value and not directly tied to the “work” they put in.
My problem with these comparisons are two-fold. One, they usually conflate an individuals net worth with income. If Elon has 365 billion dollars, he doesn’t “make” 1 billion per day. Two, phrasing it as “making” “per hour” implies their income is tied to the hours they work, and that’s just not true. It puts value on their labor I think isn’t justified.
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If I said: “Same
They must be lying by a factor of 10, no! A factor of 100! Orders of magnitude!”
Ah now in this case it don’t matter much, number is still beyond our ability to intensely grok it
Epic profits should get taxpayers off the hook every time. That’s a wildly leftist and a wildly MAGA take!
I'm sure explaining the shell game the rich play is really comforting and helpful for the starving masses. /s
This is whats called a breakdown... if their yearly income is X, then you can find out what their hourly and daily incomes are through rather basic math.
Most of these memes simply take a net worth a divide it by 365 or whatever.
Umm, what? That's exactly how it works.
That's not what you were told, sure. Maybe time to shed some of that naivete, though.
I don’t mean it as acceptance of the massive wealth disparity, about which I agree fully.
I meant that “per hour” implies a wage paid by somebody/ some company, and the uber wealthy don’t really collect a wage.
It’s fair enough to say that a person’s wealth went up *x *last year, or y the year before that. But whatever the increase (or decrease) in net worth was, it’s not dependent on the number of hours they worked in the same way it does with a wage.
Why not? If contractors can earn a “per hour” wage why can’t the uber wealthy?
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Trickle down economics ... give more money to the ultra rich and eventually some money goes down to the people at the bottom of the economic system
The problem they've discovered after 50 years of this system is that there just isn't enough money in the universe to send to the top and allow enough of it to flow down to the bottom.
A billion dollars only allows a dollar to get to a person living on the street ... so we have to send billions, trillions, gajillions of dollars to the super-ultra-giga rich to get enough money to average people.
This is the problem of trickle down economics .... we just haven't given enough money to the top yet
We have to give the rich more! ... in order to save the poor ... do it for the poor!
This is just patently false. I mean,
The problem they've discovered after 50 years of this system is that there just isn't enough money in the universe to send to the top and allow enough of it to flow down to the bottom.
That couldn't be less true. No one "discovered" anything. Economists knew this was true 50 years ago. They knew when trickle-down was being developed. It's actually really obvious, especially if you have any relevant data whatsoever. The ones with scruples pointed it out many times, the ones without hopped on the gravy train.
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Wait do people actually claim that?
Like I guess it does, for the rich assholes. But it sure seems to make a lot more for the other people
My coworkers do. Somehow the reason things suck is because of immigrants. Despite being immigrants. It's the lazy people who don't work as hard as them. Mathematically removed if you look at how things work. Not to mention that all these systems are artificial ... why shouldn't we build a system that benefits everyone instead of the few?
I know lemmy.ml censors, lemmy.ca as well?
Mathematically “ignorant” I’m guessing
Honestly I drank too many beers tonight ... I probably used one of those bad words. I shouldn't have. Didn't know they censored as well.
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Libertarians and neoliberals unironically believe that "a rising tide lifts all boats"
A rising tide does lift all boats. Giving all your money to a couple uber rich people is not a rising tide, though.
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Libertarians don't, and it's one of the few things Neoliberals are actually right about.
"A rising tide lifts all boats" refers to the fact that giving money to the people on the bottom of the financial pyramid who needs it the most will benefit everybody. Unlike just shoveling it at the already rich, which is what capitalism is designed for.
Infuriatingly, almost none of the Dem leadership actually follow through on this mantra with actual policy, beholden to the rich capitalists as they are.
The problem is that more and more people can't afford a boat anymore.
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Neo liberals believe in trickle down economics though.
Yeah, that's why I pointed out that they SAY "a rising tide" but very rarely actually act on it when it comes to legislation.
"Centrist" (read: right wing to far right by the standards of democracies in general) politicians are nothing if not hypocrites and lying demagogues 🤷
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