'Microchips: The Oil of the 21st Century' (3/5). When the Chips Act, the plan by the 27 European Union member states to reduce their dependence on the US and China for semiconductors, came into force in 2023, the goal initially appeared 'out of reach.'

https://archive.is/fmT0V

The share of investments made in the European chip sector shrank compared to worldwide spending, falling from around 10% in 2000 to 4% in 2010, according to the European Court of Auditors. Since then, the situation has not improved.

  • plyth@feddit.orgEnglish
    1·
    10 days ago

    The real question is why are we letting the inbred offspring of the former nobility manage our funds under the guise of expertise

    Because people prefer to call me a parasite instead of organising it themselves.

    Of course, some people have additional money but that is not enough to outcompete the rest of the world: https://commission.europa.eu/topics/eu-competitiveness/draghi-report_en page 280 of part B.

    you want to extract even more from those who already contribute the lion’s share.

    Everything comes fron the workers. If the workers don’t own it, others take it. People won’t do a revolution. How else but with investments can workers own more?

    • verdi@feddit.orgEnglish
      2·
      10 days ago

      The reference you shared says exactly the opposite of your point. It points out fragmentation and lack of uniform regulation… Which happens to mirror some of my arguments.

      Jesus, lemmy sometimes reddits.

      • plyth@feddit.orgEnglish
        1·
        10 days ago

        The failure of high EU savings to flow into productive investments in Europe comes down to less efficient financial intermediation. The persistent shortfall of investment vis-à-vis the US has occurred even though EU households save more than their peers in the US. In 2022, EU household savings were EUR 1,390 billion compared with EUR 840 billion in the US, reflecting the lower savings rate of US households, which is around a quarter of the EU level04. However, despite their higher savings, EU households have considerably lower wealth than their US counterparts, largely because of the lower returns they receive from financial markets on their asset holdings.

        I have no objections to your suggestions. Tax buybacks!

        My problem is with:

        That’s why you’re a traitorous parasite, you want to extract even more from those who already contribute the lion’s share.

        I hope the quote above clarifies why more investments from regular people would be a good thing.

        • verdi@feddit.orgEnglish
          2·
          10 days ago

          You did not understand the quote you shared. We already save more. Regular people don’t have the fiscal or financial education to make good investments. The problem is our investment class is filled out by amoebas that belong to inbread lineages.

          • plyth@feddit.orgEnglish
            1·
            10 days ago

            People also couldn’t read.

            We have to find a way that the money of people ends up in innovative companies that employ the people while they also own the companies. We can’t rely on the amoebas. So the people have to figure out who of them should make the investment decisions instead. There is nobody else who could do it.

            • verdi@feddit.orgEnglish
              2·
              10 days ago

              Incentive structure. Make a unified tax code with progressive corporate tax with per capita allowances based on local workforce size.

              That’s what I’ve been saying from the beginning. People’s money is already invested.

              • plyth@feddit.orgEnglish
                1·
                10 days ago

                It is invested, but not to the extend of the US. It is in saving accounts where the bank shields the people from risk.

                The banks cannot invest that money in risky startups due to regulations. This means even European startups end up in the ownership of American capitalists because they get the funding from there.

                The per capita tax structure is an incentive to maintain a local workforce. I don’t think that it helps to have the funding for more new ventures that would employ that workforce.

                • verdi@feddit.orgEnglish
                  2·
                  9 days ago

                  I disagree, we end up in the hands of US conglomerates because both EU and US antitrust enforcements are a joke. We lack enforcement to structure the incentives. There’s 0 chance that a true democratic society would allow meta to operate Facebook, Instagram and WhatsApp under the same umbrella. Further, the US prints the world reserve currency, so trying to compete at their “hook people on free services (aka, vc funded dumping) and when competition dies, enshitify” is a losing game. We need to play a different game, innovate in fiscal regulations.

                  • plyth@feddit.orgEnglish
                    1·
                    9 days ago

                    How do fiscal regulations help with Facebook, Instagram and WhatsApp?

                    We need to play a different game

                    Having average people own the companies is different. What do you have in mind?