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Why are folks so anti-capitalist? (programming.dev)

submitted 1 year ago by o_o@programming.dev to c/asklemmy@lemmy.ml

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Hi all,

I'm seeing a lot of hate for capitalism here, and I'm wondering why that is and what the rationale behind it is. I'm pretty pro-capitalism myself, so I want to see the logic on the other side of the fence.

If this isn't the right forum for a political/economic discussion-- I'm happy to take this somewhere else.

Cheers!

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[–] Sotuanduso@lemm.ee 1 points 1 year ago

I'm no economist, but is that 70% of wealth money or net worth? If you own a company but live at an average standard, that company is still part of your net worth, even though it's not being wasted on luxury.

Jeff Bezos, for example, has a net worth of $158 billion. He owns about 10% of Amazon, which comes out to $133 billion. That means 84% of his wealth is just Amazon itself. The remaining $25 billion is still huge, of course. I'm not denying that. But if every other billionaire is in a similar layout (which I suspect they are,) then having them live at an average standard is not going to cut our work down to 30%.