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Joined 2 years ago
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Cake day: August 25th, 2023

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  • The most intriguing alt-history stuff I’ve read about it was that the protesters were “lefties” protesting the Dengist attempts at liberalization and confucianist reform, because in one of the videos the protesters were singing socialist anthems e.g. 1st international. It looked like the last gasp of the cultural revolution. But I’m not sure how to check any of this (certainly not from the Chinese archives and the rest of the world only has videos…and the cables you mention), it’s probably just another bullshit story to cover up what happened.








  • What is the lowest wages/(wages+profits) (after all energy, taxes, transport, marketing costs are removed) ratio that workers should tolerate? I’d say a min of 70%, but OECD countries have slipped to 55%.

    PS: Bear in mind that this microeconomic wage share links up with inequality macroeconomically. And inequality leads to the decay of democracies and rule of law (because with depressed wage share economic indicators you may still have great growth numbers, but if nobody feels it in their wallet, they go vote for the loudest village idiot)

    I’m just writing this to be more constructive than the average tankie, but to also make it clear that the neoliberal approach to things has unintended social consequences that end up eating your pretty conceptions of markets, risk, investment and innovation and people are growing tired of it. FDR knew this, but nobody high up seems to care anymore about regulating these forces, because that would be “socialism”.