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Lukium's avatar

Interesting read.

There's a much more fundamental reason why the Abundance movement is inherently destined to fail. All things considered, the most impactful issue we have today is the fact that for the average person, "democracy" no longer works for them. To them, democracy means working two dead end jobs so that you end up still struggling to pay your bills, unable to build any wealth, which is at least better than starving or going homeless. This isn't the efficiency problem which abundance purports to solve. This is the exact same unrestrained profiteering and extraction that led us to the Great Depression almost a hundred years ago. The problem isn't that we lack abundance, the issue is that we've allowed for an incentive structure to develop where some people will simply charge the rest of society the maximum amount they can essentially "extort" from others lest they otherwise end up homeless or destitute (By the way, I'm not some socialist, I'm a firm believer in Capitalism—just not the Corporatism it has turned into over the last 50 years).

For example, according to the Fed, we currently have north of 15 million vacant housing units (https://fred.stlouisfed.org/series/EVACANTUSQ176N). The idea that if only we had another 15 million, then maybe rents wouldn't have increased by ~49% in the last 10 years is myopic at best, but probably downright idiotic (Feel free to look at rental inflation since 1982, it's been a pretty steady increase independent of housing inventory https://fred.stlouisfed.org/series/CUUR0000SAS2RS).

If you really want to understand the mess we're in, I just finished a series which I think provides a much better understanding of how we got here, and how we might get out (Link Below). If Dems decide to go down the Abundance path, I'm confident our full descent into Trumpism (fascism by another word) will be inevitable.

https://americanmanifesto.news/p/unmasking-maga

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Bookstack's avatar

If I understand you correctly, I think you're right. The abundance agenda smacks of pre-NAFTA centrism, and its time has come and gone.

It assumes that divisive political actors can be swept aside by a massive number of reasonable people acting in their long-term self-interest. The last time that was attempted, we ended up with Trump, because the subtext is that everybody who has succeeded at all in this economy is either wrong or evil. And whether they're one of those things or not, they will take that sentiment personally and resist change.

I mean, I like Ezra Klein and I agree that the American government can be inefficient and stifle growth and creativity, and I get how that's also contributed to the status quo. But it's by no means the only thing behind that status quo, and it's also not the only thing that needs to change before we're no longer the escape room of developed nations.

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