Discussion Is it possible for the capitalism world to collapse when there are massive spikes of people who become anti-work(refusing to work unfair environment)?

[JKFleck]

Also, is anyone here also an economics student?
Long story short everything seems so pointless, toxic work environment, minimal pay, everyone wants max profits/EV(Expected Value) which means hiring best workers while paying lowest wage possible, you can only become rich by selling courses on "how to get rich" etc. blah blah blah I'm too lazy to point out everything, too much competition, too much work for too little, rising cost of living everywhere

I'm luckier than others at my age (20) to have a massive headstart of savings/investment (multi-6 figures of THB)(5 figures in USD), have to contribute 12k Baht (320 USD) a month to my portfolio.(which means living very frugally in my currently school, and to be working years get an average stock market return of 8% and make 5% return post-retirement, assuming with a 3% average inflation per year and guess what?? (yes I'm currently in University AND also doing side jobs)

Did the math with the help of Excel and got my life targets
Even with a massive head start, very aggressive savings, and start investing early on in my life I'll still only JUST BARELY retire at 40, and live for 10 years until 50 living a comfortable post-retire middle class urban life (and I'll kms then to skip suffering from aging assuming I even survive past this year to continue this hardass progress to begin with)

LITERALLY NO AMOUNT OF FINANCE LITERACY CAN SAVE ANYONE WHEN THEY AREN't even earning enough to afford the minimum cost of living

 

[pollux]

No. The system will just adjust to be less reliant on human beings, just as it is doing now.

But I guess the economics answer would be that if people are less willing to accept job offers, the supply of labor will decrease, thus increasing wages.

 

[carac]

I don't know much about economics or finance I think for me either things will or won't work out I don't really speculate too much

There is that saying "Find a job you enjoy doing, and you will never have to work a day in your life."

I am probably planning on working until I am 70 and I am ok with that. A lot of people retire and don't know what to do with their time and become unfulfilled.
I think I will be quite content as long as I have a job where I feel like I am of use or providing a service. I don't need to love my job or enjoy it all the time, I am happy to work hard if needed.

You seem very young to be thinking about the future and ageing. A lot of people in their 70s or 80s are very active and it's being active that keeps them happy

 

[Hvergelmir]

I think your perspective is wrong.
You intend to have others provide for you for 20 years (as a child and student). You then intend to provide for yourself and others for 20 years, and then have society provide for you for another 40 years.
What follows is that you'll have to be exceptionally productive during your working years, and live frugally. The very fact that you can at all, sit back while others provide for you is quite impressive.

A more normal life plan would be to work for twice that time, while simultaneously living a good life.

What financial literacy can teach you is how to spend others money, making profit off loans, etc. Stock market investing is simply a way for rich and busy or lazy people to delegate work. Creating companies and products, and solving problems is where the real money is at. By letting others invest in your project, you can use their money to make profit.
That's my conclusion after trying to understand it for the past 10 years.

Also, don't take financial advice from youtube. The platform is not designed to promote the best advice, but to evoke strong feelings and engagement.

 

[cheyxnn]

The whole refusing to work thing is only viable if u have the means to do so in the first place. Considering the majority of people are working pay check to pay check, how would they therefore go about doing this without starving or becoming homeless etc..

I feel as though we as a society are too far in to capitalism where if it were to collapse so suddenly like that then it would have too many impacts on people, and not just the rich.

 

[sserafim]

I think your perspective is wrong.
You intend to have others provide for you for 20 years (as a child and student). You then intend to provide for yourself and others for 20 years, and then have society provide for you for another 40 years.
What follows is that you'll have to be exceptionally productive during your working years, and live frugally. The very fact that you can at all, sit back while others provide for you is quite impressive.

A more normal life plan would be to work for twice that time, while simultaneously living a good life.

What financial literacy can teach you is how to spend others money, making profit off loans, etc. Stock market investing is simply a way for rich and busy or lazy people to delegate work. Creating companies and products, and solving problems is where the real money is at. By letting others invest in your project, you can use their money to make profit.
That's my conclusion after trying to understand it for the past 10 years.

Also, don't take financial advice from youtube. The platform is not designed to promote the best advice, but to evoke strong feelings and engagement.

What's the point of providing for yourself and others? I want others to provide for me forever

I don't know much about economics or finance I think for me either things will or won't work out I don't really speculate too much

There is that saying "Find a job you enjoy doing, and you will never have to work a day in your life."

I am probably planning on working until I am 70 and I am ok with that. A lot of people retire and don't know what to do with their time and become unfulfilled.
I think I will be quite content as long as I have a job where I feel like I am of use or providing a service. I don't need to love my job or enjoy it all the time, I am happy to work hard if needed.

You seem very young to be thinking about the future and ageing. A lot of people in their 70s or 80s are very active and it's being active that keeps them happy

Why do you want to feel like you're of use or providing a service? I don't dream of labor at all

 

[landslide2]

unionize else be exploited. falling birth rates are worrying the business and owner class a great deal because as pollux said, fewer workers means higher wages. a large part of the absurd levels of income inequality are due to exploitation of labor globally.

 

[Praestat_Mori]

A more normal life plan would be to work for twice that time, while simultaneously living a good life.

I think you miss sth here in regards of a "good life" - in any case, a "good life" is a subjective experience. You're right the normal life plan is to work until 70 - 80 now but by that time you're most likely only a living dead or died much earlier while keeping yourself barely alive with the monthly wages. That's not a life.

OP has a very good and ambitious plan but would need to increase the saving rate the younger we are the better chances we have to achieve this.

 

[Hvergelmir]

What's the point of providing for yourself and others? I want others to provide for me forever

I'll keep this short, as it seem off topic. Feel free to start a new thread or DM for lengthier discussion.
In short:
Providing for yourself gives you freedom and safety. It would also prevent your mother from confiscating your gaming consoles and the like.

I think you miss sth here in regards of a "good life" - in any case, a "good life" is a subjective experience.

I see the problem clearly. You're however assuming:
1) An uninteresting job, causing you to suffer
2) A bottom tier wage barely covering food expenses.

That is indeed a nightmare! Assuming it's true that this is the only opportunity, the stock market won't save you, though.
Better investments would be education or relocation, or possibly starting a business.

In OPs case with a university education, I think he'd be able to enter an interesting job, and pulling an upper middle class wage, with a lot of economic freedom.

Considering the great expense of OPs plan, sacrificing half his like and causing distraught, to have a semi-decent second half - I don't think the plan was great.
With a more moderate saving scheme and a decent job, I think he could have a good life throughout.

The stock market is a good investment if you have spare money. My previous reasoning was simply an attempt to dispel the mysteries propagated by youtube and the like - it's not some incomprehensible money printing device, but quite simple, conceptually.

 

[Terry A. Davis]

unionize else be exploited. falling birth rates are worrying the business and owner class a great deal because as pollux said, fewer workers means higher wages. a large part of the absurd levels of income inequality are due to exploitation of labor globally.

its not worrying them because they have to increase wages (wont happen), its worrying them because they know they will need to import africans en masse which will cause social instability and racial tensions thus leading to internal micro civilisations amongst the immigrant groups and extremist nationalist breakway nations within the original national borders.