Capitalism
Sellers have always had access to more information than buyers, and “dynamic pricing,” which harnesses the power of algorithms and big data, is supercharging this asymmetry. If you weren’t already convinced the future of capitalism will involve an endless optimization of extractive capacity and the ensuing enshitification of every last bit of consumer life, well, get ready
Capitalism
Ayn Rand believed that the path to social harmony ran through the inferior masses’ acceptance of brutal rule by their natural superiors. Her perspective was wrong, and its implications were just as grim and nasty as her atrocious personality. Those of us familiar with Ayn Rand’s ardent pro-capitalism and renowned meanspiritedness may be disinclined to
Capitalism
BY PAN PYLAS AND MASHA MACPHERSON. Updated January 15, 2024 DAVOS, Switzerland (AP) — The world could have its first trillionaire within a decade, anti-poverty organization Oxfam International said Monday in its annual assessment of global inequalities timed to the gathering of political and business elites at the Swiss ski resort of Davos. Oxfam, which for years has been
Capitalism
The ratio of CEO pay to worker pay is almost 300 to 1. Are we really supposed to believe CEOs work 300 times harder or create 300 times more value than us? As an abstract value at least, equality is generally seen as a good thing in most liberal democratic societies. Outside certain fringes of
Capitalism
The next time you’re struggling to pay your rent or afford child care, think about this: the uberrich in the US are now paying top dollar to cut in line to get health care and hiring rotating casts of nannies so one is always at their beck and call. The 99 percent are suffering. With
Capitalism
Increased productivity has failed to translate into fair compensation, and we’re all working ourselves to death. Not having time to rest or think is not just terrible for human beings — it’s terrible for democracy. All Work, No Play In our market society, time spent outside work is often infiltrated by work-related concerns, upsetting what