I absolutely adore that sweet spot where you make things less useful for consumers while you also buy out and then sunset things that were more thoughtfully designed and did a better job.
Pebble......
(at least it's coming back soon)
FWIW: The major technical advancements are usually public sector R&D.
The private sector doesn’t have the same tolerance for risk.
They just swoop in to package it and monetize it, while patenting every possible way to combine this publicly available tech.
Oh it's part of the gov grant process through STTR...
i mean parallel development isn't a bad thing ngl, having redundancy is a good thing. for example there's a reason nasa funded both boeing starliner and spacex dragon, as is probably apparent right now
And the award for basedest memery goes to… NotSteve
So sad that Steve didn't win it :(
They keep talking about the invisible hand of the market, but they always forget to mention: the hand has Parkinson's.
Erm, actually 🤓 it's the most efficient by a simplistic definition of efficiency that only considers market forces and doesn't correspond to things people actually care about, so you are objectively wrong, anti-innovation, anti-American, and literally Stalin!
/s
What we have right now is oligopolistic crony capitalism and not an actual functioning market economy. A soviet style planned economy is certainly not something we should aspire to.
Good news! No one here mentioned planned economies! While some people who criticize capitalism only want to improve it, some do want to explore alternatives such as planned economies or market socialism. It's also possible to have a planned economy and not have a society even remotely similar to the soviet union.
Edit: You know, sorry about that the meme does directly call out markets, but it doesn't exactly imply a soviet style anything. Again, socialism only requires that people own their own workplaces etc., which means it allows for a wide variety of economic systems.
There are aspects of economy that certainly should be centrally planned though. A few industries that come to mind are transportation infrastructure and power generation. Private competition is good for most industries but it should never be allowed to dismantle public services for profit. When capitalism arrived in my country in the 90s it devastated our rail network since profit became more important than providing people with transportation services. There are cities of around 80k population that don't have any rail connections now, some cities twice as large have sparse or barely any connections.
They’re taught that the long run is simply a succession of short runs and that therefore short term and long term economic thinking and planning are the same,which is,of course, glaringly wrong.
Anything to fill the insatiable hole in them where a soul would be in a real human.
They constantly fall under fallacies of composition or aggregation. To think in the aggregate and long term is largely thrown under the rug.
It’s “right” for a single company to slash wages and gut employment to seek higher profit margins… But when every company does it, it ultimately destroys the capacity of the bottom to uphold the top and it collapses.
