So, what is the problem with a top-down economy?

[HDQQ]

Whether or not there's a problem with a top-down economy depends on one's philosophy. If you're happy with a big and growing gap between the rich ans the poor, then a top-down economy is OK, I guess.

But if you want a fairer and more equal society, then the top-down system doesn't work.  We know from the Thatcher / Reagan years that the 'trickle'down' theory doesn't work and in fact a 'trickle-up' situation is more likely. 

Also, in a situation where easy borrowing is possible,backed up by a rising property market, a lot of people can lead comfortable lives aided by borrowed money.  When the easy borrowing stops, as in 2010, that all goes pear shaped.

Ultimately with a concentration of wealth at the top, you end up with a dwindling number of well-off people and a growing number of poor people and eventually the system will topple unless it becomes a totalitarian regime protecting the elite.

[Sheepy]

https://us.yahoo.com/news/michigan-secretary-state-says-armed-035400636.html
Well, no worries then, the Corporation are armed and dangerous. We have Ken and Karen, BLM, Antifa and several unknown factors. The kids will sort it out.
What could possibly go wrong.

[Sheepy]

Thing is Sheeps everyone is up the same economic creek and the top never gave a stuff about the rest,throw the odd bone or two.

Still think this is nothing compared to what happens when automation and AI really kicks in.

We will see, democracy is the only way of changing it, proving the corporate mind doesn't own everything including politicians and science is a different matter.

[cromwell]

Thing is Sheeps everyone is up the same economic creek and the top never gave a stuff about the rest,throw the odd bone or two.

Still think this is nothing compared to what happens when automation and AI really kicks in.

[Sheepy]

I suppose this depends on if anyone gives a shit about america ?

Well, I guess so, hopefully all the other major western top-down economies learn a lesson this time. The damage after Covid is one they will be reckoning with for sure. Gawd knows how messy that will be with a debt mountain to beat all debt mountains.

[johnofgwent]

https://us.yahoo.com/finance/news/capitalism-will-collapse-on-itself-without-empathy-love-scott-galloway-120642769.html
Well obviously, nothing if you are in the top 10%, but then others might notice who have less and less while the few gather more and more. Is this freedom in any sense, probably not. Is the US heading for a day of reckoning? the signs on the street say so.

I suppose this depends on if anyone gives a shit about america ?

[Sheepy]

https://us.yahoo.com/finance/news/capitalism-will-collapse-on-itself-without-empathy-love-scott-galloway-120642769.html
Well obviously, nothing if you are in the top 10%, but then others might notice who have less and less while the few gather more and more. Is this freedom in any sense, probably not. Is the US heading for a day of reckoning? the signs on the street say so.