this post was submitted on 22 Sep 2023
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It's basically one massive Tragedy Of The Commons (if one is being nice, Ponzi Scheme if one is not being nice) were "somebody else" is supposed to pay people good salaries and "somebody else" is supposed to pay the taxes that support the whole damn structure in which these people are getting rich and get to keep their riches and "somebody else" is supposed to "buy my shares" at a higher price.
Everybody expects "somebody else" to take on the costs of keeping the system going all the while cashing in on all the things only possible thanks to that very same system they contribute into the minimum they can get away with.
It makes all sense for a single economic actor to act in a purelly extractive way when all others have a more balanced economic posture, but the problem is that over the last 4 decades ever more of the economic activity has passed into the hands of such people and now most of it is done like that (which is why "rent seeking" is so common) and the rest of the economic actors (the ones who produce rather than extract) can't keep up anymore, hence why we've reached a point were the broadening of both financial empoverishment and fall in quality of life - i.e. the things that can be purchased with the dwindling money most people earn are themselves getting worse) has become very visible and even painful for many.