Chloe Swarbrick - I like her style

[Logen Ninefingers]

Redistribution can go up to the rich as well down to the poor.

Chloe Swarbrick on whether we let the growing wealth and housing divide go on, or push for change.

Poverty and inadequate housing is not a natural phenomenon, in the same way that wealth and "housing" per se isn't. As author Ursula K. Le Guin put it, "We live in capitalism. Its power seems inescapable. So did the divine right of kings. Any human power can be resisted and changed by human beings."

The wealthiest in this country are an estimated $1 trillion richer as a result of the political decisions these past two years, at the expense of workers and renters earning less in real terms and paying more to survive.

We have a choice on whether we arrest inequality or let it fester.

https://www.nzherald.co.nz/nz/chloe-swarbrick-we-can-let-growing-wealth-and-housing-divide-go-on-or-push-for-change/UCAX4RSN7F65YGJCGRLDBJZ4BQ/

It’s being called ‘capitalism’ and yet it is the intervention of central banks and governments in markets that have caused this entire problem. Different arms of the state have deliberately inflated asset bubbles and continue to intervene to prop them up.

[Aaron]

It’s being called ‘capitalism’ and yet it is the intervention of central banks and governments in markets that have caused this entire problem. Different arms of the state have deliberately inflated asset bubbles and continue to intervene to prop them up.

Agreed, if Chloe can identify the people and policies behind the rising wealth inequality they can address the issue, but I doubt the rest of the greens have enough brains to get past their ideology and work it out. Central planners at the central banks are largely responsible. See how the RBNZ turned around a predicted 10% fall in house prices prior to covid into a much more than 30% rise over the last two years. Drop the OCR to .25% and print up $70bill to assist bank lending. Easy as. Easy to reverse as well but it wont happen. No political will to do it.

[moka]

It’s being called ‘capitalism’ and yet it is the intervention of central banks and governments in markets that have caused this entire problem. Different arms of the state have deliberately inflated asset bubbles and continue to intervene to prop them up.

It is about capital, not capitalism. Capital is an asset, and capitalism is the process of using it productively.

Central banks are creating capital which is rationalized by saying it will be used for capitalism. But most is being used for speculation and financialization. Capital is about wealth creation, whereas capitalism is using capital to purchase raw materials and plant to make a new product.

Less and less of the economy is about capitalism, and more and more is about speculation and financialization. The free market economy has not created “free markets.” The small business cannot compete and more and more power is concentrated in a few very large businesses.