That DEI (women and brown people) are responsible is a constant right wing cry.
The competency crisis is a result of an economy where making money without making a product is easier than making something. We prioritized financial profits—multi generational rises in asset prices that were faster than inflation. Housing went up. Stocks went up. Private equity earned money buy buying companies, larding them up with debt, and running them into the ground. Profits were juiced by moving production offshore and engaging in regulatory and labor arbitrage.
The best profit came from playing financial games and rentierism. You didn’t have to make anything or delivery anything, you just had to find a way to squeeze money out of something by making it go up faster than inflation, or by destroying something which was already built, taking all the future value now and giving it to yourself. Even the (old) Middle Class got in on this, by buying houses when they were cheap, watching them appreciate faster than wages, then selling them when old and moving south to be have their bums wiped in cheaper southern states by brown immigrants.
Everyone wanted to make money without having to create to get it. Mostly they either wanted to get unearned money from appreciation, to destroy what others had built, or to capture a market in an oligopoly or monopoly so they could juice prices.
Meanwhile, the manufacturing floor moved to China and elsewhere. The people who knew how to make things retired, moved to other jobs, retired and eventually died.
We can’t build most things because we haven’t prioritized building things, or getting better at building things since the 70s. The eighties are where predatory capitalism took hold, and since then the whole game has been rentierism, unearned gains, predation and arbitrage.
DEI doesn’t much matter in comparison. The people running the economy for the last 45 years have been mostly white males, and that doesn’t matter either. Women or brown people would have done the same thing. Margaret Thatcher was a woman, and one of the founders of his mindset.
No one’s competent at actually doing things, except profit extraction, because our societies haven’t prioritized doing anything but extracting profit for over 45 years. Everyone who lived in a society that was about really delivering products and making things is dead or retired.
if you want a competent society again, make it so that no one can get wealthy, let alone rich, without really making something or improving people’s lives. And no, Facebook and Google and so on don’t count, because they were started as good, and made shitty to increase profits. That’s the opposite of what’s needed. (AI in the US will be the same.)
Leave a Reply