TIL that young people born to rich families who don't go to college are 2.5 times more likely to end up in the richest quartile than young people born to poor families who do go college

Do you have any actual understanding of how an economy works?

Yeah, we do. Here's an illustration.

Assume a market economy, and not "fully automated luxury gay space communism"

You're a widget maker. You labor to make widgets and sell them on the market as a sole proprietor. You're successful and have accumulated enough capital to expand production, but now you need more people.

There are two roads to go down.

To the left, you find nine other people familiar with democratic ideals as well as a firm understanding of widget making. At this point, you all voluntary chose to form a cooperatively owned enterprise. You collectively decide how to manage production, how much to pay yourselves, and how much to redirect back into expanding production. As you grow, you may split up management into worker's councils along the natural divisions of labor necessary to run a widget making enterprise of that size.

Every worker is an owner. There are no gratuitous accumulations of equity and confirm by a minority of individuals. Every worker has one share and one vote.

Or, you could go to the right...

Where you find nine employees with no institutionalized stake or control in the top-down management of your enterprise. Since you're the monarch in this dictatorship, you're the sole decision maker, save for the "good treatment" you bestow upon your employees as a gift of altruistic self satisfaction, and to convince workers you care about them outside of their ability to make you rich.

Which, speaking of, as a capitalist owner instead of a cooperative member, you might make more money! But you're only able to do this by extracting the surplus value of the labor of your employees. That is, if an employee creates $100 of value per day, and after reinvesting $10 for care and feeding of the means of production, you pay your worker $20 a day and pocket the rest, that means you stole $70 from the worker that belongs to them.

That's the crux of it. It doesn't matter how "well" you treat your workers. Wage labor relationships are exploitative in and of themselves, writ large, full stop.

You know, Americans think they fought a war to shrug off the chains of monarchy in the pursuit of equality and democracy, yet we continue to businesses like kingdoms, and liberal capitalists like yourself think that's okay.

Why do you hate democracy?

/r/LateStageCapitalism Thread Parent Link - theatlantic.com