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The billionaire, who chairs the world's largest asset manager, kicked off his 2024 letter to shareholders by telling his readers it is "time to rethink retirement" if they want to dodge America's looming "retirement crisis"

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[-] Smaile@lemmy.ca 3 points 1 week ago* (last edited 1 week ago)

Well... That leads me to a dark line of thinking... Jobs that are actually worth something are constrained by resorces we have and could extract if we're going by a "what is nessisary" line of thinking and who can just be cut out of the economy, we can't magic them out of thin air, it's part of the reason why it's so popular, also UBI would never work without keeping it low and having it replace existing welfare structures and aggressive taxation of the 1% and 0.1% (something I am for but that's tough when your population is comprised of mostly economic laymen who Don't Wanna be tAXd. )

[-] Elting@piefed.social 7 points 1 week ago

Besides capitalism being inherently inefficient, it incentivizes holders of capital to extract maximum monetary value from laborers. This means that, as capitalism progresses, more and more jobs exist for the sole purpose of enriching the owners of capital. If every job was a meaningful one, we could support everyone on the planet without everyone doing labor.

[-] Smaile@lemmy.ca 2 points 1 week ago* (last edited 1 week ago)

Oh I won't argue that base capitalism isn't a big waste machine, Iv never believed it was the end all be all, but the system needs to feed itself to keep going. UBI could work is funds are redirected carefully and kept as a booster and not as a full replacement. my only issue is convincing people of what has to happen to get that done.

this post was submitted on 15 Jul 2026
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