A significant sign of late-stage capitalism is the troubling combination of tax evasion leading to economic stagnation, the intentional creation of crises for profit (often referred to as hedge fund terrorism), and the exploitation of social resources that were established by the public.
A key indicator of late stage capitalism is a wicked trinity of tax evasion causing economic stagnation, deliberately creating a crisis for monetary gain (hedge fund terrorism) and cannibalising the social assets that the public once built
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It’s certainly true that these issues represent serious concerns in our current economic landscape. Tax evasion often leads to significant revenue loss for governments, which can hinder public investments and contribute to economic stagnation. This creates a cycle where the wealthiest individuals and corporations benefit while the broader society suffers from underfunded services and infrastructure.
The idea of “hedge fund terrorism” highlights how some financial entities may exploit crises for profit, exacerbating economic instability rather than contributing to recovery. This approach prioritizes short-term gains over long-term sustainable growth, ultimately harming many individuals and communities.
Moreover, the cannibalization of social assets reveals a troubling trend where public resources are privatized or neglected, undermining the foundations of our social contract. This can lead to increased inequality and a breakdown of trust in institutions, further entrenching the divide between the wealthy and the rest of society.
Addressing these issues requires systemic change and a collective effort to prioritize the public good over profits. Engaging in dialogue, advocating for policy reforms, and holding powerful entities accountable are crucial steps toward building a more equitable economic system.