I think the best solution to poverty is a mixture of predistribution and redistribution - in other words, social democracy. The evidence bears this out.
Not a China simp by any means, but this community note is pure cope.
Like, yes, they used a different measure for a country that hadn't *started* industrialising until the 1950s -- half-a-decade after America had finished doing so.
According to data from the World Bank, the share of the population living in extreme poverty ($3/day PPP) is now higher in the United States than in China.
I like how these people have given up on even pretending to be good guys and they’ve embraced the evil, demonic aesthetic that matches their world view.
In May, the federal budget did something Australian budgets almost never do. It touched the tax concessions that protect wealth. The response was predictable and it had nothing to do with salaried Australians.
Like these two…and the vast majority of Australians.
A registered nurse, 34, in Melbourne’s outer north. Under $90k, an essential job, still paying off the degree that got her there. Her rent is up more than a third in three years. Her pay isn’t. She did everything her generation was told to do, and she’s going backwards.
A maintenance supervisor, 51, keeping a regional NSW town’s biggest employer running. Fixed his mortgage at 2% in 2021 and felt secure for the first time. Rolled onto a rate three times higher. Repayments up more than $1,000 a month, on a wage that didn’t move.
Neither owns an investment property. Neither has a lobby, a peak body, or a meme campaign. Between them they are most of the country and in the week the budget tried, however modestly, to shift the balance back towards them, the airwaves belonged to the people they’ll never become.
The salaried majority has been getting poorer for years while the national conversation was about someone else. Those with asset power.
New piece, link below
@benbackupbackup Having read it then, surely you can muster a compelling counterargument?
So far, others have just claimed "inequality doesn't actually matter" and "countries got richer" which doesn't really debunk what Rainer's claiming is a myth.
@benbackupbackup Ah, yes. He debunks myths like "Capitalism leads to growing inequality."
He should've been a bit more selective on those. You only have to glance at what happened to most countries following market liberalization to see he's flailing.
main issue with all of these 'capitalism vs. socialism' debates is that they confuse governance design with collective ownership. Badly governed collectives that allow slackers underperform, whether they're capitalist or socialist