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(lemmy.blahaj.zone)
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this post was submitted on 04 May 2024
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The meta problem to that is the super rich are gambling on failure just as much as they gamble on success. They have their super portfolios so spread out that if something fails they may lose money on the thing but make more money on the effects of the failure with other investments. And for the most part, they don’t handle that at all, it’s data science run hedge funds that are running trillions of calculations a minute as markets and global shifts occur to ensure that “line go up” for the accounts they manage, which results in a lose-lose for everyone else, because often the bad social things happening are more profitable so they will try to move the market in that way. Hypercapitalism is fucked
The issue is that they aren't as smart as they think they are. They've created a more dangerous world for themselves and their children, and while they'll still be at the top, their position is far less stable. They're still trapped on this planet with us, and are still vulnerable to the apocalyptic problems they've caused.
That's wishful thinking, in world history there's always been who is on top, and in general the conditions of people are far better than in the past, thanks to (or despite of) capitalism
Wealth redistribution is sign of a mature society as well as punishing who abuses societal rules for private gains
Some societies are, in many ways, more mature than others, and western society aren't much better that eastern ones, despite what we like to think, they just value different things, including status symbols, and being better off than the average, when this is left unchecked... It causes problems, to the point where it is not possible any more to control it
And here we are
Not a great response but... Basically they are gambling they'll be dead before the bill comes due.
It helps that human made environmental changes are novel, meaning that while we have histories of other disasters befalling our planet, we haven't seen this particular one before. And since our enemy is the super rich who control much of the media output, they can cast enough doubt over everything to get away with it for long enough for them to die off.