one interesting tidbit from THE WAGES OF DESTRUCTION is that while nazi germany gave the appearance of a capitalist system, in practice it was a command economy even for the richest industrialists and the command was "do what we tell you or get shot" - ThreadSky

sjshancoxli.liberalcurrents.com • 3 days ago

one interesting tidbit from THE WAGES OF DESTRUCTION is that while nazi germany gave the appearance of a capitalist system, in practice it was a command economy even for the richest industrialists and the command was "do what we tell you or get shot"

Reposted from Micah

“sell your product at a loss, or else” was probably not what the business people were expecting from President Business

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kbuts.bsky.social•3 days ago

Nazi economics were a third fake accounting (MEFO bills), a third plunder, and a third command economics

edgarageous.bsky.social•3 days ago

Didn't know about MEFO. It's giving... VC shitco shell game

frontdeskattendant.bsky.social•3 days ago

this is essentially how i think a capitalist system usually works, but the shooting is normally more predictable

davidjorgonson.bsky.social•3 days ago

Park in South Korea used to tell CEOs what their new industries they were going into.
"But we don't know anything about making electronic cables"
"Do it or I'll destroy you"

lordbusinessman.bsky.social•3 days ago

They were mostly bought in, because it would make them rich, and all of them dreamed of imposing a Germanic Empire on Europe and a great, great many of them were ideologically committed to mass slaughter and starvation to achieve those aims

sjshancoxli.liberalcurrents.com•3 days ago

emphasis on the "mostly"

garethjones.bsky.social•3 days ago

"...Junkers opposed their goal of re-armament. They responded by demanding ownership of all patents and market shares from his remaining companies, under threat of imprisonment on the charge of high treason. He was placed under house arrest in 1934 and died on 3 February 1935."

admiral-monke.bsky.social•3 days ago

Killing a guy named the equivalent of "John Richguy" sends a powerful message.

nbeaudrot.bsky.social•3 days ago

In this sense I think we should be happy and impressed that business leaders are experiencing thermostatic backlash (apparently a bunch of them thought the guy who incessantly talked about tariffs was doing it just for show. oops.)

lordbusinessman.bsky.social•3 days ago

Right it would be worse news if they were like 'its one small price to pay for MAGA' instead of 'wait a second last time we got USMCA and now that's bad so what's going on here'

spfhockeyfan.bsky.social•3 days ago

Glad you’re back!

nbeaudrot.bsky.social•3 days ago

it's interesting to me how much progress there's been on shrinking the federal government (not a burning priority for businesses) relative to deregulation (a much bigger priority)

makes you think!

sethdmichaels.bsky.social•3 days ago

of course, shrinking the federal government's staffing is a form of deregulation, by making creation and enforcement of rules rarer and more difficult

nbeaudrot.bsky.social•3 days ago

Well yes and no, as Matt Levine points out. (the impact of non-enforcement vs actual deregulation varies a lot by industry I'd imagine)

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