I wholeheartedly sympathise. My interpretation is slightly different. The working class aren’t giving up earning power as much as the western central banks are inflating it away with endless money printing and support of Wall Street that is supposed to trickle down to Main Street. It seldom does. Instead it’s used for stock buybacks and further entrenchment of inefficient firms that would have long collapsed in genuinely free market conditions.
I interpret the “capitalists are screwing the working class” as a) erroneous b) long-term dangerous c) convenient way for those bureaucrats to divide and conquer. Meanwhile they take risks with our economy without accountability.
> support of Wall Street that is supposed to trickle down to Main Street
> I interpret the “capitalists are screwing the working class” as a) erroneous
Isn't support of Wall Street fairly interpreted as support of the uber wealthy capitalists who benefit the most from this monetary policy and artificially boosted stock prices?
And what's stopping the capitalists from using some of that vast wealth to actually pay workers more?
> Instead it’s used for stock buybacks
Who benefits from this? Shareholders, right? Aren't the uber wealthy in the US and Europe getting the vast majority of their wealth thanks to capital gains via shares?
> genuinely free market conditions.
There good reason genuinely free markets exist nowhere in the world and nowhere in history. Negative externalities don't magically disappear all on their own. Privatizing profits and socializing costs is the natural strategy every company must adopt to remain competitive lacking regulations to prevent socializing those costs. It's simply far cheaper to pollute when you are allowed to.
I interpret the “capitalists are screwing the working class” as a) erroneous b) long-term dangerous c) convenient way for those bureaucrats to divide and conquer. Meanwhile they take risks with our economy without accountability.