The destructive and wasteful nature of Finance Capitalism is on display. Profit margins must always increase and this imperative produces its much celebrated dynamism.
But how destructive it is! Resources are wasted, communities are in constant upheaval and what is the price that is paid by individuals and families as this system generates, nay is founded on a constant game of instability?
The US economy rests on retail and yet the desire for profit is now driving the retail sector into its grave. Wealth is being accumulated but only for the investor class.
These stores are caught in a death spiral. The globalised system of production has fundamentally changed the nature of supply and inventory. Online sales have driven down prices and at this point profit margins are so slim that stores can no longer afford to sit on inventory. As a consumer it's become frustrating. You go into the store and they don't have what you want or need.
At one point shopping online was a novelty or by some viewed as a luxury. Now it's becoming a necessity because you can't rely on the inventory at your local brick and mortar outlet.
With the collapse of the industrial sector many American workers shifted over to jobs in the retail and service sectors. Globalisation the exploitation of cheap labour platforms overseas, technological revolutions in logistics and production have combined to undercut and destroy the retail and service sectors...
Capitalism rather than equalising the opposing forces in society, countering and checking them via the means of the market and the so-called Invisible Hand instead builds up and then destroys. When it runs out of things to consume it starts to consume itself. It is a self-destructive system and even those who sit atop the pyramid will in the end turn on each other. Capitalism might bring prosperity and even some 'freedom' for a season but that's not at the heart of the system. In the end it will exacerbate divisions, promote instability and result in a destruction of both options and freedom.
Our society is headed toward the two-class structure so common in the Third World. We will have a class of wealthy, with a few subsets and a huge class of poor with some subsets. There will be little mobility and just as the portfolios of the wealthy are expanding the poorest classes are slipping into destitution. The United States is not Mexico but it's moving in that direction and faster than some realise.
Countries like Mexico and China have benefitted (temporarily) from the Globalist infusion of capital and the exploitation of their labour. But already they are beginning to discover the model is not sustainable or static. Unless they can build up a huge finance sector that generates an economic spin-off (when the industrial sector collapses) and has access to international markets, they will find themselves in a bad way before long. The bad way comes not just in the form of economic disparity and the consequent despair of the masses but it comes in the form of violence.