Facebook Follies of Friends and Families

[The Minsky Moment]

People keep drawing parallels to the 1920s, but I start to feel more like in the 1890s.

I agree in terms of the structure of production and economic relations; however, it is occurring in the context of a ideological-information framework more akin to the 1930s, such that populist energies are skewed more to the authoritarian right than the left.

[Syt]

People keep drawing parallels to the 1920s, but I start to feel more like in the 1890s.

I agree in terms of the structure of production and economic relations; however, it is occurring in the context of a ideological-information framework more akin to the 1930s, such that populist energies are skewed more to the authoritarian right than the left.

Do you think the left reaction to industrialization vs. the authoritarian right now might be rooted in the tools of change? Industry required - at least initially - "old" capital and resources that were in the hands of elites while labor was "just" another resource. And a coal miner in Silesia could not start his own mine or steel mill.

Meanwhile, the digital industry in the 90s/00s was home to many progressives, arguably still is in the lower rungs, and had a much lower barrier to entry. Which may in turn lead to a right wing (as opposed to left wing) counter movement.

Or I could just be talking out of my ass.

[Zanza]

I feel like we are moving towards a Cyberpunk future. Mega corporations or rather their billionaire owners ruling the world. The current nation states as most powerful entities having been dismantled by the useful idiots in the right wing populist parties.

[mongers]

But think of all the money they can make till then and how much they might be able to entrench/expand their positions.

Exactly.

[crazy canuck]

Its weird how these moguls bend the knee to Trump so openly when, in theory, he'll be gone for good after 4 years.

Arguably they have a fiduciary duty to the company to do so.