Friday, March 26, 2021

The nuts and bolts of capitalism: Big capital invades new space

A few days ago my wife and I took a two-hour walk around the outskirts of Alexandria, Virginia. On most blocks we saw signs like this one in front of middle-class housing complexes. They all say the same: LEASING CENTER. Under capitalism, big capital perpetually invades new spaces. Over past decades this is what has happened in non-industrial sectors such as housing. Other examples include pharmacies, restaurants, hotels, private transportation to name just a few. This pattern contributes to the growing disparity in wealth which has become particularly apparent during the pandemic. Not only have the rich gotten richer but some of the rich have lost everything, allowing vultures like Jeff Bezos and his Amazon to operate with less competition and as a result make repulsive amounts of profit.

 

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