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Cake day: July 26th, 2023

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  • I think this is exactly where the deepest crises of capitalism come from. What you describe is a natural consequence of unregulated capitalism. Either you start regulating (breaking up monopolies or nationalising them, high tax brackets on the very rich, etc.) before you hit a depression, or you risk a revolution by only enacting them after the shit has hit the fan. Then you can have a generation, maybe two, who reap the benefits of enforced redistribution. And then folks get complacent and start deregulation again.