I don't think this is fair to the real argument used. And given teh hegelian/marxist claim that everything has a kernel of truth, we should be clear on it.
The argument is that wealthy people don't just let their money sit around or give it away, but instead reinvest the money (turn it into 'living' capital) in processes through which people are paid wages as well as investment in means of production. The more money given to capitalists, the more it is invested in these processes. This is preferred to the purchasing of goods which normal people do, because 'normal purchases' result in less acelerated growth and innovation than investments directly as capital. These accelerating effects raise total production and so there's more to spread around among those who can purchase it.
This is filled with flaws, but the accelerating effects of strategic investment into means of productions is true. But market means are just shit at it, so you have to keep poor people out of the loop to allow 'planned' investement through private capitalists as a means of coordination. This critique (instead of 'oh they just believe that capitalists are so giving') gives the room for the real solution to the contradiction: the coordination method being in line with the interests of the value producers (workers) allows actually the most efficient method of reinvestment in the long term. We don't need to say everything is wrong, just that this core needs a flip to move forward. What's the best way to make this coordination align and create healthy innovation and efficient work? Give workers the ultimate power over that process and allow the coordination to be in their name and within their power as a class.
25
Dialectical Idealist - 4day
I think we're in agreement. Even if we steelman their argument, it doesn't follow that the workers ever see the benefit of reinvestment. The capitalist is still incentivized to reduce the cost of human labor through various means (understaffing, wage theft, offshoring, AI, etc.). Much more equitable for the workers to collectively make decisions about production instead of capitalists.
Yes, the meme simplifies their position for the sake of humor. But Trickle Down Economics is demonstrably false and worthy of ridicule.
9
FuckyWucky [none/use name] - 4day
Trickle down is very much linked Say's "Law" the idea that adding financial wealth to capitalists will spur investment which creates supply, then somehow creates demand for the said supply, workers get paid and capitalists get profit.
Most of it ends up pumping financial asset bubbles and capital intensive sector.
8
BeanisBrain [he/him, they/them] - 3day
Nah, they'll acknowledge it's bad but twist themselves into knots claiming that private interests using housing to turn a profit is socialism somehow
14
Blakey [he/him] - 3day
something something pisskink joke
13
RedSturgeon [she/her] - 3day
It's more like the workers being grinded to pulp by the gears of capitalism, while their god emperor is preparing to send them on a mission to Venezuelan jungle, where he is saying all the trickle down money is being hidden, by the DEI narco brandon administration. They say them's who stole it.
Dialectical_Idealist in memes
Is It Trickling Down Yet?
https://hexbear.net/api/v3/image_proxy?url=https%3A%2F%2Flemmygrad.ml%2Fpictrs%2Fimage%2F30b7262a-0123-4eb3-91c2-13ce84167cad.jpegI don't think this is fair to the real argument used. And given teh hegelian/marxist claim that everything has a kernel of truth, we should be clear on it.
The argument is that wealthy people don't just let their money sit around or give it away, but instead reinvest the money (turn it into 'living' capital) in processes through which people are paid wages as well as investment in means of production. The more money given to capitalists, the more it is invested in these processes. This is preferred to the purchasing of goods which normal people do, because 'normal purchases' result in less acelerated growth and innovation than investments directly as capital. These accelerating effects raise total production and so there's more to spread around among those who can purchase it.
This is filled with flaws, but the accelerating effects of strategic investment into means of productions is true. But market means are just shit at it, so you have to keep poor people out of the loop to allow 'planned' investement through private capitalists as a means of coordination. This critique (instead of 'oh they just believe that capitalists are so giving') gives the room for the real solution to the contradiction: the coordination method being in line with the interests of the value producers (workers) allows actually the most efficient method of reinvestment in the long term. We don't need to say everything is wrong, just that this core needs a flip to move forward. What's the best way to make this coordination align and create healthy innovation and efficient work? Give workers the ultimate power over that process and allow the coordination to be in their name and within their power as a class.
I think we're in agreement. Even if we steelman their argument, it doesn't follow that the workers ever see the benefit of reinvestment. The capitalist is still incentivized to reduce the cost of human labor through various means (understaffing, wage theft, offshoring, AI, etc.). Much more equitable for the workers to collectively make decisions about production instead of capitalists.
Yes, the meme simplifies their position for the sake of humor. But Trickle Down Economics is demonstrably false and worthy of ridicule.
Trickle down is very much linked Say's "Law" the idea that adding financial wealth to capitalists will spur investment which creates supply, then somehow creates demand for the said supply, workers get paid and capitalists get profit.
Most of it ends up pumping financial asset bubbles and capital intensive sector.
Nah, they'll acknowledge it's bad but twist themselves into knots claiming that private interests using housing to turn a profit is socialism somehow
something something pisskink joke
It's more like the workers being grinded to pulp by the gears of capitalism, while their god emperor is preparing to send them on a mission to Venezuelan jungle, where he is saying all the trickle down money is being hidden, by the DEI narco brandon administration. They say them's who stole it.