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<blockquote style="position: relative; padding-left: 55px;"><section><a href="https://graeber.social/users/DGI/statuses/114070665192116033">David Graeber Institute (dgi@graeber.social)'s status on Thursday, 27-Feb-2025 00:26:25 JST</a><a href="https://graeber.social/@DGI" title="dgi@graeber.social"><img src="https://gnusocial.jp/theme/gnusocialjp/default-avatar-stream.png" width="48" height="48" alt="David Graeber Institute" style="position: absolute; left: 0; top: 0;">David Graeber Institute</a></section><article><p>How has everything gone so wrong in the last few decades? David Graeber gives us a clue as to what has happened!</p></article><footer><a rel="bookmark" href="https://gnusocial.jp/conversation/4635966#notice-9074483">In conversation</a><time datetime="2025-02-27T00:26:25+09:00" title="Thursday, 27-Feb-2025 00:26:25 JST">about 2 months ago</time> <span>from <span><a href="https://graeber.social/@DGI/114070665192116033" rel="external" title="Sent from graeber.social via ActivityPub">graeber.social</a></span></span><a href="https://graeber.social/@DGI/114070665192116033">permalink</a><h4>Attachments</h4><ol><li><label><a rel="external" href="https://gnusocial.jp/attachment/4205167">"Look at the 1950s when there was the expression - What’s good for GM is 
good for America - which made sense at the time when you consider that 
GM was taxed at 60–70%. They were producing enormous profits, and most 
of their profits went to the government, which in turn used that money to build
roads, highways and infrastructure for the cars, so it became this virtuous circle. 
.
Fast-forward 50 years, and companies like that are paying no taxes. They’re 
getting all their money from the financial sector, not from the cars, which are 
not profitable anymore. Instead, they charge people interest, and use that 
money to lobby politicians to change the laws that regulate them to be able 
to extract even more. And that’s basically how the American system works, 
and that’s why Wall Street and the government become almost 
indistinguishable. 
.
Government coercive force becomes a means through which profit is 
extracted, and that’s why suddenly you have this change of how people 
perceive one another in relation to this system."
.
 - David Graeber</a></label><br><a href="https://cdn.masto.host/graebersocial/media_attachments/files/114/070/664/121/548/519/original/fd8aeb77d597e245.png" rel="external">https://cdn.masto.host/graebersocial/media_attachments/files/114/070/664/121/548/519/original/fd8aeb77d597e245.png</a></li></ol></footer></blockquote>

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David Graeber Institute (dgi@graeber.social)'s status on Thursday, 27-Feb-2025 00:26:25 JST David Graeber Institute
How has everything gone so wrong in the last few decades? David Graeber gives us a clue as to what has happened!
In conversationabout 2 months ago from graeber.socialpermalink
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1. "Look at the 1950s when there was the expression - What’s good for GM is good for America - which made sense at the time when you consider that GM was taxed at 60–70%. They were producing enormous profits, and most of their profits went to the government, which in turn used that money to build roads, highways and infrastructure for the cars, so it became this virtuous circle. . Fast-forward 50 years, and companies like that are paying no taxes. They’re getting all their money from the financial sector, not from the cars, which are not profitable anymore. Instead, they charge people interest, and use that money to lobby politicians to change the laws that regulate them to be able to extract even more. And that’s basically how the American system works, and that’s why Wall Street and the government become almost indistinguishable. . Government coercive force becomes a means through which profit is extracted, and that’s why suddenly you have this change of how people perceive one another in relation to this system." . - David Graeber
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