What's the endgame when the rich have all the money?
What's the endgame when the rich have all the money?
Corporate culture is based on constant growth and ever increasing profit margins. Eventually they'll amass so much of the wealth that most of the lower class won't be able to purchase anything other than essentials like food.
No new cars, no tech gadgets, no fancy dinners, no vacations, no disposable income.
When we get there the economy collapses because there's no money going into it.
The profits stop rolling in, unnecessary goods stop being produced, and the luxury goods producer's shut down.
At this point the money they worked so hard to hoard becomes worthless because they can't buy anything with it.
What's the endgame for them if their current path takes them to a point where their assets are more or less worthless?
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most of the lower class won’t be able to purchase anything other than essentials like food. No new cars, no tech gadgets, no fancy dinners, no vacations, no disposable income.
Bold of you to assume the rock bottom of wealth inequality includes the ability to purchase food and is survivable.
When we get there the economy collapses because there’s no money going into it. The profits stop rolling in, unnecessary goods stop being produced, and the luxury goods producer’s shut down. At this point the money they worked so hard to hoard becomes worthless because they can’t buy anything with it.
Money doesn't come from people, it comes from the fed issuing debt. The economic "value" backing that money also doesn't necessarily come from people, it comes from control over things that are valued, which may include human labor, but that labor can be automated. The actual value of human life is not represented by money or other financial instruments.
Economic constraints aren't preventing the world from decaying into an enormous desolate golf course.
There's a critical point in wealth disparity where money begins to lose value. As the amount of wealth that can be extracted from the working class dwindles and the people who have too little find other ways to barter with each other.
Fun fact, we have already seen an early attempt at this. And while I think we're still a ways away, it's not exactly without precedent.
wealth that can be extracted from the working class
This is my point though; they aren't going to need to do that.
That, at present, is where the wealth is coming from.
If the Fed just keeps printing money, eventually that too loses all value. It needs to actually be able to buy things. Sure it's backed by US securities and bonds, but if the US isn't capable of collecting taxes, because it's people aren't making any money and have started to barter amongst themselves, then they can issue all the bonds and bills they want and it won't mean a damn thing.
Money is their only real leverage. They're racing to find the minimum amount of money they can give us and still maintain that leverage.