>>518799834
> but this would be hard and time-consuming and would shift power away from the domestic entrenched financial elite as it would have to be necessarily shared with domestic workforces
Finally someone who gets it. Industrial production, small businesses that make actual things, people having the personal sovereignty to engage in commerce among themselves, etc… is not easy to financialize.
US shareholder are addicted to owning and profiting from things they don’t participate in. They have effectively noble status: how else is it possible for them to profit from a business they don’t work for or participate in?
Wall Street shareholders only want to own things and profit. They don’t want to actually produce, because that takes effort. So keeping industry within the US is risky because American factory workers, as slavish as they are, are still used to things like unions and co-ops. It’s literally better to have a distracted white collar class sitting in front of a computer screen (complacent because they are never going to be injured in the workplace and they get to eat burgers and have 401ks), and then have everyone else be a homeless drug addict. So long as they can extract more profit from their noble status, they do not care. Hence, they must practice hegemony. This was understood as far back as Plato’s time:
“Then, shall we not need a larger city? For the healthy city is no longer sufficient; it must be filled with a multitude of things that go beyond mere necessities—painters and embroiderers and cooks and attendants of all sorts, and swineherds… And land enough will no longer be sufficient for their maintenance, but they will need to take a slice from their neighbors’ land. And will this not give rise to war, Glaucon?”
Missing context from this quote is the fact that about HALF of Athens were slaves. If you don’t feel like you’re reaping the spoils of US hegemony, guess what? You are a slave.