We have probably two generations now that know of nothing but 'crapified products in China' This is another form of inflation, or perhaps economic degradation, whatever you want to call it ... planned obsolescence predated transferal of the manufacturing base to China, but they have made it into standard procedure for everything You are likely old enough to remember when power tools, or refrigerators, or even simple plumbing parts, were built to last, in many cases a lifetime. That era is long gone.
I'm not sure how to deal with the racket economy now that monopoly/oligopoly and racketeering are the norm in EVERYTHING, you name the industry, it has been racketized in the US. Hyper-financialization is certainly a factor as well in bringing all of this about. It's definitely been a motivator for shipping decent jobs out of the US.
Standard anti-trust, even if there were a will to do it, is probably not a workable solution for many markets, though for food conglomerates it would probably work. That requires honest effective leadership and a noncriminal government. Perhaps we will get there, but not soon, and never if the rigged elections systems are not addressed.
Corporate governance might be used to address the exec stock options/buyback problem, but again, political will is not there, and this is very much bipartisan as no one, elected or not, in DC gives a shit about America or Americans.
Perhaps Mencken had the only true solution:
"Every normal man must be tempted, at times, to spit on his hands, hoist the black flag, and begin slitting throats."
Excellent piece.
We have probably two generations now that know of nothing but 'crapified products in China' This is another form of inflation, or perhaps economic degradation, whatever you want to call it ... planned obsolescence predated transferal of the manufacturing base to China, but they have made it into standard procedure for everything You are likely old enough to remember when power tools, or refrigerators, or even simple plumbing parts, were built to last, in many cases a lifetime. That era is long gone.
I'm not sure how to deal with the racket economy now that monopoly/oligopoly and racketeering are the norm in EVERYTHING, you name the industry, it has been racketized in the US. Hyper-financialization is certainly a factor as well in bringing all of this about. It's definitely been a motivator for shipping decent jobs out of the US.
Standard anti-trust, even if there were a will to do it, is probably not a workable solution for many markets, though for food conglomerates it would probably work. That requires honest effective leadership and a noncriminal government. Perhaps we will get there, but not soon, and never if the rigged elections systems are not addressed.
Corporate governance might be used to address the exec stock options/buyback problem, but again, political will is not there, and this is very much bipartisan as no one, elected or not, in DC gives a shit about America or Americans.
Perhaps Mencken had the only true solution:
"Every normal man must be tempted, at times, to spit on his hands, hoist the black flag, and begin slitting throats."
High prices should be signalling the opportunity for profit, and market competition bringing prices down.
Unless you don't have free markets; you have cartels, with regulatory capture and artificial scarcity.