More Harvey

David Harvey, who is a Marxist, agrees with me that the $15 minimum wage and the universal basic income are so loved by the major holders of capital because they are a huge gift to them at the expense of taxpayers. This is crystal clear to anybody with even the most basic understanding of the Marxist theory. Or anybody who says, “wait, this can’t be good,” when they hear the rich boys of the Silicone Valley applaud these proposals.

Harvey says that these Silicone Valley progressives “know their technologies are putting people out of work by the millions and that those millions will not form a market for their products.” So they need you and me to sustain the purchasing power of these millions of superfluous people because this is how public wealth is funneled into the Richie Riches’ pockets.

All of these supposedly progressive measures proposed by Sanders/Warren are a way to siphon public wealth into the pockets of the same rich whom Bernie and Warren keep denouncing.

And yes, of course, there is an alternative that protects the dispossessed and doesn’t end up handing over public money to these fucksters. It consists in limiting, through governmental intervention, “the vast amount of wealth appropriation occurring at the point of realisation.’ What that would look like in practice is discussed every evening on the Tucker Carlson show. Everybody else just reads from the Silicone Valley script.

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7 thoughts on “More Harvey”

  1. “It consists in limiting, through governmental intervention, ‘the vast amount of wealth appropriation occurring at the point of realisation.'”

    I don’t really understand what this means. Do you mean limiting the amount of money that executives can make? Or …? (Sorry, I don’t have time to watch TV news, and very little to read blog posts, in fact, but I’m really interested in what this means.)

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      1. “strict government regulations on predatory lending (etc etc etc)”

        This might surprise the person you’re responding to but all this used to be the norm (imperfectly applied in many ways but the goal was to use government to prevent the worst financial abuses).
        Beginning with the Reagan administration it began to come under attack and now people are so brainwashed they think of financial fuckery by bankers etc as normal and somehow outside the realm of things that can be subject to political decisions.

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        1. Cliff – I just didn’t know what “the point of realisation” meant. I know about deregulation.

          It also used to be against the law to charge interest on loans. Without that knowledge, the play Merchant of Venice makes no sense. (My specialization is in Shakespeare, not economics or politics of the present day.)

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          1. ” strict government regulations on predatory lending”

            Then you’re way ahead of many people now.
            Recently (on a forum related to Europe) I was arguing with people who found the statement attributed to Wolfgang Schäuble: “Elections cannot be allowed to change economic policy” to be perfectly reasonable…..

            The fact that get this from Shakespeare is gravy…. who says humanities are useless?!

            That said, I’ve never quite gotten Shakespeare… I appreciate him more than enjoy him…

            Liked by 1 person

      2. I don’t see how that would help with the underlying problem of more and more middle-class jobs being automated and therefore disappearing, and housing, education, and healthcare costs all going up.

        Things like cellphone charges are peanuts compared to this. The proposed solution seems deceptively simple for this problem.

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        1. Of course, it won’t solve that problem but then what would?

          The blue-collar workers got on the US version of the UBI and started dying out from opioids. So that didn’t help anybody but drug dealers.

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