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Efficiency is a broken construct
(lemmings.world)
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this post was submitted on 11 Jan 2025
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Capitalism isn't efficient! It's creates whole industries that have no other purpose but to lech off the system. Land lords, insurance, none rehabilitation based justice system, private/charter schools, car dealerships, military industrial complex, etc.
It is efficient. At generating profits for the rich, that is. The system isn't broken, this is the intended result.
The whole finance sector only exists to give rich people free money.
You missed investment banking.
Eh, some of those provide value:
I got nothing for the rest.
In another thread someone pointed out that there's land lords and there's property management. Sometimes one entity is both, but not always. Property management provides value for money- i don't want to deal with maintaining the building myself, so I'll pay someone to do it. Landlords just make money because they happen to own the place, but provide little to no value.
Also private schools I think mostly are a vehicle for racism and undermining public schools. I don't think they're good.
Property management is a service a landlord could pay to handle maintenance, and they have an incentive to keep costs low because the landlord could always pick another management firm. Some are good, but I just can't get over that conflict of interest.
I was more referring to mom and pop landlords, who actually care about the property and don't want to deal with vacancies, so they'll sometimes actually lose money to keep tenants happy to just not deal with it.
And I really don't have a problem with private schools, as long as they don't receive public funding. Vouchers are dumb.
Charter schools are another beast entirely. They need to post good test scores to keep the charter, they often can't pick their students (ours uses a lottery), they often can't charge any fees or tuition (so 100% publicly funded), etc. So they end up being like public schools without bus service where the school has a little more choice on how they approach curriculum (though they need to cover the same material).
This is a scenario where the landlord (owner) is also the property manager.
I don't know a lot about the details of charter schools, but "they need to post good test scores" sounds like fertile ground for perverse incentives.
Public schools do too, but for public schools it just impacts their funding, whereas charter schools could go out of business. So there's absolutely a concern of teaching to the test in both scenarios, the stakes are just higher for charter schools.
So charter schools need to simultaneously differentiate themselves to attract parents, while also doing as well or better then public schools. Ours:
It's annoying dropping off and picking up every day, but the teachers seem happy, unlike the local public school that has a ton of turnover.
Car dealerships is a weird one in that list. That’s like saying one should go to cuisinart to buy a toaster rather than Walmart. They’re a car retailer…
Uhhhh the car buying process is so different than any other industry that comparing it to buying a toaster is disingenuous. What if I told you, "you're not allowed to buy this toaster from Cuisinart directly." Not only that but you must go to a store with a mark up to buy the toaster. Would you feel the same?
That’s fair. They act like a cartel in practice, not just a retailer.
And you need to negotiate the price in a back room.
Whatever you do don't let them sell you undercoating for your toaster
Different than any other industry? Have you ever tried to buy parts for your HVAC system? Or parts/software to repair your tractor? Or warranty work for your appliance? It's all the same, you need to go through the 'authorized service department' to get anything from those companies.