It’s like stack ranking within companies that always fire the bottom 20%. Everyone will do whatever they can to be in the top 80% and it continues to get worse every year. Job conditions are not improving every year - they are continually getting worse and that’s due to the issue that we just don’t have enough jobs.
This country doesn’t build anything anymore and we are concentrating all the wealth and power into the hands of a few. This leaves the top 1% getting richer every year and the bottom 99% fighting over a smaller piece of the pie every year.
If as you say the number of available positions is constrained, this system does nothing to increase the supply of those positions. It also does nothing increase the likelihood that those positions are allocated to those with the greatest material need. This is Stanford; I am sure many of the disabled students at Stanford are in the 1%.
Wouldn't say this is an accurate description of the US economy.
https://realtimeinequality.org/?id=wealth&wealthend=03012023...
Top 0.01%, +9.1%
Top 0.1%, +13.9%
Top 1%, +15.2%
Top 10%, +6.1%
Middle 40%, -6%
Bottom 50%, -0.1%
This supports exactly GP's two statements:
> we are concentrating all the wealth and power into the hands of a few.
Correct, their slice of the pie is growing, the bottom 90%'s is shrinking
> This leaves the top 1% getting richer every year and the bottom 99% fighting over a smaller piece of the pie every year.
Also correct, the biggest growth of share being in the top 1% segment.
> Correct, their slice of the pie is growing, the bottom 90%'s is shrinking
Not sure about "power" there. In my experience you get power by having a lot of free time and dedication to something else other people don't care about… which yes includes billionaires obviously, but most of the people meeting that description are just middle class retirees, so they're outnumbered.
> > This leaves the top 1% getting richer every year and the bottom 99% fighting over a smaller piece of the pie every year.
> Also correct, the biggest growth of share being in the top 1% segment.
It does not show it "every year", there are long periods of stagnation and some reversals. I would say it shows that recessions are bad and we should avoid having them.
nb another more innocuous explanation is: there's no reason to have a lot of wealth. To win at this game you need to hoard wealth, but most people are intentionally not even trying that. For instance, you could have a high income but spend it all on experiences or donate it all to charity.
A lot of things start like this. You need someone with an aggressive backbone to enforce things - which these institutions won't have.