Capitalism is failing

rafaelkino.com

2 pointssprafa5 comments

Does not look like capitalism is failing or doing a really bad job:

https://ourworldindata.org/world-poverty/

As I point out in my text, I think it does fine for physical products.

But the digital products we are making now aim for the psychological needs we have and they are having adverse effects. In that sense I think the "engine of innovation" is broken. We're not making useful products anymore.

is that down to capitalism or technology? Inequality has been rising for the last 40 years.

> Inequality has been rising for the last 40 years.

Really?

https://ourworldindata.org/global-economic-inequality

Global inequality is clearly not relevant for what I'm talking about. I'm talking about a post-physical society, such as developed countries. And in most developed countries inequality is going up not down. See Thomas Piketty's work. To my knowledge it hasn't been refuted yet.

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