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'Capitalism has to become more humane': a Stanford economist on big tech

https://www.theguardian.com/books/2026/may/18/big-tech-monopolies-democracy-mordecai-kurz
46•xyzal•2h ago

Comments

JohnFen•1h ago
The problem is that, apparently, abusing people wholesale is profitable.
NietzscheanNull•1h ago
Drug dealing is profitable. Chattel slavery was exceptionally profitable.

To allow profitability to be our measure of permissibility is to sacrifice civil society at the altar of enterprising tyrants. Economics should never be a substitute for ethics.

keybored•43m ago
Did the Union have economic use for chattel slavery or “wage slavery” as some called it around that time?

I’ve never heard of mainstream economics serving people. Maybe Keynesianism did?

doubletwoyou•10m ago
The cotton picked by slaves processed by the North into textiles etc. was a large portion of the economy.
Barrin92•38m ago
>Chattel slavery was exceptionally profitable.

it wasn't. Slave economies are exceptionally unprofitable and unproductive. To take the US as an example. Liquid wealth, i.e. capital, was vastly larger in the North than in the slave owning states, the industrial output of New York exceeded the entire Confederacy and it was that profitability, wealth and mechanized agricultural production that did them in.

Even Marx recognized this by the way, following feudalism capitalism was a progressive force, it was profit, productivity and surplus that enabled civil society, the north was more civil because it was rich and had unlocked modern forms of production. The problem of capitalism is not profit or lack of civil society.

ch4s3•30m ago
Contemporary anti-capitalists are way to influenced by the "king cotton" theory, which as you point out is completely wrong.
Zigurd•27m ago
True, but "better than slavery or feudalism" isn't a winning tagline. Nor should it be an excuse for letting capitalism tear down civil society as it has been doing in the US recently.
GerryAdamsSF•23m ago
It was profitable for the slave owners.

History is not a Paradox game where there is rational top down control.

gruez•13m ago
Profitable/unprofitable is the wrong way of looking at it, because it implicitly ignores opportunity costs. Putting your money in a savings account at a big bank might be "profitable" in the sense you're getting paid some meager interest rate (eg. 0.1%), but it's definitely not the best option, like a money market fund or equity ETF. What OP probably meant was that slavery was worse than the alternatives, like putting your money in a savings account with meager interest rate.
Natsu•17m ago
The problem with capitalism is that it gives people what it wants, and some people want bad things, or are at least indifferent to getting what they want despite bad externalities.

The hard part is that I'm not sure any other system really fixes this flaw. Sure, you can be less democratic and give fewer people what they want, but for some reason few people want to live in autocracies of any stripe.

And it's not always clear that there is a solution when the things people want are too diametrically opposed, either. I'm not sure many people would be happy with any of the solutions from "Three Worlds Collide" for example (a short story you can go read online if you don't get the reference).

louwrentius•1h ago
I agree, but Capitalism is inherently an unequal system, one group of people own the capital and the rest doesn't. And nobody talks about where that initial capital came from (large-scale theft, wage theft, slavery, and so on).

That means this inherent inequality gives one group tremendous power over the other.

What we really need is a system that doesn't automatically promote psychopaths and sociopaths to the top, the more ruthless, the more money you make, despite the human cost. We need a system that doesn't value money/capital as much, but other outcomes.

And we especially don't need Billionaire Philanthropists. Pay the damn taxes. Yet, this is the site for the Temporary Embarrassed Billionaires, so I know how this will go over...

coldtea•1h ago
Wow, such insight. It was worth their parent's sacrifices to send them to study Economics.
saulpw•1h ago
"Capitalism" can't become more humane, by its nature. Money is a great technology for coordinating people and work, but capitalism (being the system in which the capital class is allowed to allocate resources without oversight, and to reap the vast majority of the rewards of everyone's labor and invention) systematically optimizes away anything that is not monetizable. And humanity is neither monetizable nor optimizable.

"More poems, faster, cheaper!"

slwvx•1h ago
I think social democracy is, by its nature, trying to be a humane system while allowing a form of capitalism. The Nordics may not be a perfect example of social democracy, but a useful one. Looking closer to home, the progressive era in the US was all about making society more humane while still allowing capitalism. In the sense of capitalism of these examples, I definitely think it can be humane.

For a more recent example, listen to this podcast episode: https://www.acquired.fm/episodes/vanguard

throawayonthe•1h ago
yes that's why it's inhumane and relies on unequal exchange/exploitation of the global south while still backsliding on domestic welfare appeasement policies
simianwords•41m ago
Global south is not exploited inhumanely. This ideology called "thirdworldism" or "decolonialism" is becoming popular but it ultimately fails on any scrutiny.

The west has not got rich at the expense of the global south. Both have gone up .

tao_oat•28m ago
> The west has not got rich at the expense of the global south

What timeframe are you considering in this opinion?

nine_k•15m ago
The post-colonial time obviously, when much of the "Global South" has become independent states, thus peers, not colonies.
unfitted2545•25m ago
Wow. Tell that to the cobalt miners in the DRC.
gruez•7m ago
Did "The West" cause warlords in DRC to exist? Even if you ignore the efforts by western firms to not buy cobalt from the DRC, it's questionable whether the DRC would be better if they had no exploitable natural resources. Neighboring countries without natural resources aren't exactly paragons of good governance either.
jorvi•19m ago
The progressive era in the US had nothing to do with capitalism, it's a different axis. And also a very useful red herring for the people with capital. "They have you fighting a culture war so you aren't fighting a class war" and all that jazz.
derelicta•1h ago
Capitalism with a human face doesn't make sense. It's like talking about Ethical Theft. It might have served its purpose, but now it's time to move on.
nine_k•13m ago
Any idea what would work comparably well instead?

There were many experiments; none seemed to be successful, unless you consider the current semi-capitalist China a social success.

janmarsal•1h ago
does more humane mean more taxes?
metalman•1h ago
wow!, holy fuck eh! so what next, mass "involuntary uthenasia" as starving to death on the street isn't "humane", the volunteer variety in Canada must be too slow and expensive
markus_zhang•51m ago
They are just trying to give the boat different paints and hope it never sinks.
keybored•46m ago
There is no oil left in the engine. “Slap a smiley face on the dashboard.” Many such cases.

There will never be a just-a-little-exploitation capitalism coming from the bougies or their academic henchmen. They have to chase profit, that’s the game. A just-a-little-exploitation capitalism can only come from the working class fighting back. Then when that happens the bougies try to win their fair-share back and again and so we go back and forth, but only a few times not that many because of ecological breakdown.

hashlock_p2p•46m ago
I think in Agent economy , there will be less discrimination
hashlock_p2p•45m ago
I think there will be less discrimination in Ai Agent era
thedudeabides5•43m ago
new new deal type stuff
dionian•35m ago
"Voters turn towards fascist leaders when democracy no longer serves workers, Kurz says. “New Deal” reforms during the Great Depression limited monopoly power and provided benefits to the vulnerable. According to Private Power and Democracy’s Decline, these reforms precipitated a “half-century of sustained innovations, rapid economic growth and stable income distribution”. Reagan-era reversals of those reforms led to what Kurz calls the “second Gilded Age”, when technological firms could accumulate monopoly power and wealth while most Americans, especially blue-collar workers without college degrees, saw their wages stagnate as the cost of living rose. It was this economic disenfranchisement, rather than cultural forces, that led to the rise of Maga, according to Kurz."

The MSM has been pushing hard for establishment Rs and most Ds, and tech oligarchs were sinking money in D areas like Zuckerberg in WI in 2020. (A "maga" election, per the articles comment)

I agree that tech oligarchy shouldn't be influencing politics so much, but i dont think this makes Dems or anyone else 'fascist' necessarily.

Zigurd•20m ago
Based on the recent NYT poll, a lot of rank-and-file Democrats think Democratic politicians aren't anti-fascist enough. One can sort of see the logic of the politicians who are focusing, correctly, on keeping independents on board. But it is weak sauce nevertheless.
jmyeet•23m ago
There are essentially three forces shaping society going forward:

1. Everything is great. You either own a lot of capital or you think you will one day. You're fully in support of the current system;

2. There are problems but they can be fixed with a nicer, kinder capitalism, more regulation and so on. This essentially makes you a social democrat. This is still a pro-capitalist position, ultimately. You might also call yourself progressive; and

3. You believe that capitalism is fundamentally flawed and the problems of the current system, such as ever-widening wealth inequality, are an inveitable consequence of capitalism. This is the anti-capitalist position and makes you a leftist. You can't be a leftist and not be anti-capitalist.

Last century and going back to even the 2000s, tech companies and their founders were upstarts, rebels and often counter-cultural. That era is long gone. Some here might decry how often politics creeps into HN but all that's happened is that tech companies have gotten so large that they have become tools of the state. You can't be a rebel and a trillion dollar company. To maintain your status, you end up moving in lockstep with US domestic and foreign policy.

My point is there is no making this system more humane without overthrowing the US government, essentially. Imperialism is the highest form of capitalism and there is no true opposition to American imperialism in the mainstream US political system. Like, at all.

jauntywundrkind•10m ago
I feel like it would help a whole lot if the titan's couldn't keep gobbling their young.

Endless endless endless corporate consolidation. All creative energies and impulses just get swept back up into the very large companies. There's a vital energy that's just missing from the market, a competition for labor that's empty, a competition for serving the world well/competing on value that's all just... gone.

Gemini 3.5 Flash

https://blog.google/innovation-and-ai/models-and-research/gemini-models/gemini-3-5/
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