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   David August (davidaugust@mastodon.online)'s status on Sunday, 17-Dec-2023 13:31:38 JST David August

   When self-described capitalists don’t actually seem to know what capitalism actually is.

   #capitalism #capitalists #workers #unions #labor #markets #scarcity #shortage #WorkersShortage #economics

   • GreenSkyOverMe (Monika) repeated this.
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     C.S.Strowbridge (csstrowbridge@mastodon.social)'s status on Sunday, 17-Dec-2023 15:36:23 JST C.S.Strowbridge

     in reply to

     @davidaugust
     Real capitalists want unions, because unions mean the lower inequality and that means more customers for your goods.

     They also want strong environmental regulations, for similar reasons.

     Same goes for universal health care, UBI, etc.

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     Femme Malheureuse (femme_mal@mstdn.social)'s status on Sunday, 17-Dec-2023 15:37:26 JST Femme Malheureuse

     in reply to

     • Dieu

     @hllizi @davidaugust Yup, Economics 101 - supply and demand curves. A basic concept earlier than freshman year B-school, like market fundamentals kids learn trading for digital Neopets.

     This is the real problem with so-called "free market" unregulated capitalism: many capitalists don't understand economics, thinking markets listen only to them because of their capital. When it doesn't respond as they wish, they act corruptly to make a market controlled in their favor, ex. frozen minimum wage.

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     Dieu (hllizi@hespere.de)'s status on Sunday, 17-Dec-2023 15:37:27 JST Dieu

     in reply to

     @davidaugust that's not even capitalism, that's just the basics of trade.

     GreenSkyOverMe (Monika) repeated this.