Elon Musk is the richest man on Earth and $TSLA is worth more than a trillion dollars. What the fuck is going on? In @RobinWigg's phrase: it's the #TeslaFinancialComplex at work:
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What's a "Tesla-financial complex?" Well, Tesla is only tertiarily a car-maker (which may explain why the company is so indifferent to QA for its vehicles and the safety of its workers). 3/
One of the original sins of the modern economy was sidelining unions and social programs as a path to upward mobility and installing property speculation in their place. 1/
Converting the distribution of shelter (a human right and necessity) into a speculative asset had far-reaching consequences, and an eventual violent rupture was baked in from the start. 2/
A path to prosperity runs through the appreciation of your family home (not through wage-gains and access to education, health-care and pensions) recruits a vast army of everyday wage-earners who will fight for any policy that pushes up real-estate values. 3/
Last summer, I wrote a six-part series on the history, future and present-day of queue- and crowd-management strategies at Disney themeparks, summarizing my endless reading, rumination, and direct experience on the question.
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Who gets to do what and when at a themepark may sound like a trivial question, but it's a perfect little microcosm for the distributional problems that are at the heart of all political economy - questions that the pandemic's shortages and shocks threw into stark relief. 3/