Reply to post: Re: Errrm

Basic income after automation? That’s not how capitalism works

big_D Silver badge

Re: Errrm

The biggest problem with, current, capitalism is that everybody is looking to make money NOW! Very few are looking at investing for long term growth, decent quality products that last and make products that are environmentally balanced.

By this I mean things like electronics designed to break just after the warranty runs out, built in failure points, so that after a set number of uses the device will break, so that people will buy a new one. What happened to pride in the work and quality? My parents bought products, they were expensive, but they lasted decades. Today, the products are either cheap and fall apart after a couple of uses or they are expensive and last a few years.

A lot of "improvements" in products aren't there to improve the product, but are changes in design to make it look newer and cooler, so that people will throw out existing, working products to buy new ones.

We are in a consumer death spiral. The amount of waste we produce, because things break or go out of fashion so quickly is not sustainable. Investors are looking for a return on investment for the next quarter or, if they are investing "long term", then the next year or two at most. Nobody is looking to make sure a company is sustainable and will grow steadily, providing good income, for the next 10 or 50 years, let alone looking at the long term. It is all, "I have made my profit from the company and exited, now it can go to hell, for all I care."

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