val-ritz: The problem with forcibly seizing the assets of, say, Jeff Bezos is that his net worth of…
The problem with forcibly seizing the assets of, say, Jeff Bezos is that his net worth of $161 billion does not mean he has that in cash. That’s the worth of everything he owns, including stock in his own company.
And the problem with seizing THAT is that it isn’t real. It’s based on confidence and what people might conceivably pay for it. And if you just seize it, that confidence tanks. And then that wealth evaporates.
The problem with capitalism isn’t that there’s a bunch of old dudes sitting on hoards of cash. It’s that they’ve collectively created a system by which they have ludicrous social and economic power based on the PROMISE of hoards of cash. That don’t exist. They have created a social stratum in which debt is money.
That’s why the exhortation is to SEIZE THE MEANS OF PRODUCTION, not GO GRAB ALL THE MONEY. Because the money isn’t real, and the need to go out and get it is blinding people to the fact that it doesn’t need to exist.
Spaceport, Ikebukuro 池袋