Comments by "LancesArmorStriking" (@LancesArmorStriking) on "Why some nations fail and others succeed" video.

@freddy4603 Why aren't they stealing it? I sincerely hope you don't mean to tell me that executives are somehow working 200x harder than they were in the 1950's, as their pay reflects. No. At the very top, the CEO has a board— of people he's chosen— to help decide whether or not he gets a pay raise this year. Who in their right mind is going to say no, at the threat of being demoted? And where do you think that extra money comes from? Layoffs and cutbacks. Same labor for less pay— or, to be less obvious, fewer benefits and overtime. It is theft, outright.
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@richardfreeman724 Ironically, most of the nations in question were on the path to setting up those very same inclusive institutions. Now, it can be argued that, because of the violent nature of Communist revolution, that it was destined to become extractivr (as in the Soviet Union) but replacing it with an explicitly extractive dictatorship backed by the US was squashing any chance they had at prosperity. At least with socialist land reforms Latin America could have started to be better, and if they messed up, it was their problem.
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@freddy4603 ..Are you slow? The part where their salary is reduced, indirectly or directly (stagnating wages relative to inflation, no benefits, straight-up pay reduction, etc.) Unless you want to do away with the concept of 'earnings' altogether, the people who are working the same amount of hours at the same intensity as before, but earn less money are being stolen from. It doesn't matter if doing that is business-savvy, it's still theft and it's still wrong. You know what else is great for profits? Slavery.
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