mjMar 10
If you're tired of this too, you'd better buy more coffee, it's not going away. Conversely, you could eliminate the "No True Scot" fallacy & voilà! Trying to separate the market failures into neat blame categories fails. Both 'private' & 'public' #equity are to blame for #inequality-- full stop.
Show threadmjMar 10
First, a couple sources to refute the main claim directly. Private Equity and The Public Good (2025) Daniel J. Morrissey, Gonzaga University Law School digitalcommons.law.buffalo.edu/buffalolawre... #econsky #equality #capitalism
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The Dark Side of Private Equity The University of Chicago Business Law Review businesslawreview.uchicago.edu/online-archi... #corporations #patriarchy #classwar
Mar 10 at 10:02pmWeb
Show threadmjMar 10
Saying that private (or public) equity doesn't cause changes to consumer behavior is like saying that lakes & oceans have nothing to do w/rain. "It's the clouds, dummy." One reason that #reductionism survives so well in science is that it dominates society in general. It's a key to #disinformation.
Show threadmjMar 10
"Cherry picking" #information that supports an idea while discarding those that don't does not produce correct answers, it just confirms your bias. Consumers generally spend as much as they earn. Desperate people do not have the luxury of paying more for better quality. This is not a "decision."
Show threadmjMar 10
The comments in the original post are loud & clear: IF THE PLEBS JUST WOULD EARN MORE, WE WOULDN'T SOUND SO STUPID TELLING THEM TO EAT MOAR CAKE. Not just any cake, mind you, but the Top Shelf stuff. Blaming the general population (consumers) for declining product quality is rich; it's #systemic.
Show threadmjMar 10
There are treadmills of income classes & each has their own pressures. 50% of people earning over $100k live paycheck-to-paycheck. They spend it all.. on what? Ever increasing Premium pricing, as old products get worse. At the other end, the effect is opposite. jemmafinancial.com/helpful-tips...

Lifestyle Creep: Are You Spend...
Lifestyle Creep: Are You Spending More as Your Income Grows? - Jemma Financial

Many people find that as their income increases, so does their spending. It can happen gradually, making it hard to pinpoint. With a recent survey showing that almost 50% of people who earn $100,000 or more annually live paycheck to paycheck,1 lifestyle creep could be a contributing factor. What is It? Lifestyle creep, or lifestyle... Read More >

Jemma Financial
Show threadmjMar 10
The only other thing a profit-seeking organization can do to increase their extraction besides reducing quality is reducing labor. After some time, the market is forced to change & accommodate new financial realities. Incomes going down forces consumers to find cheaper alternatives & do without.