It would be comforting to know that the US might be experiencing "late stage capitalism," a promising signal of better times to come. But for now, we can only watch it decay:
Late stage capitalism is a popular phrase that targets the inequities of modern-day capitalism. It describes the hypocrisy and absurdities of capitalism as it digs its own grave. Social media website Reddit describes it as "the horrible things capitalism forces people to do to survive." It spotlights the immorality of corporations using social issues to advance their brand.Trump lets Capitalism Profit from COVID-19 pandemic with Ventilator Bidding War: Trump doesn't have to let this happen, probably knows its happening, but won't stop the ghoulish profit taking anyway. Don't be surprised if we see more of this with the rise of super unaffordable coronavirus vaccines. NPR's Marketplace:
As the number of COVID-19 cases rises, states are bracing for overwhelmed hospitals where there isn’t a ventilator for everyone who needs one. That’s what’s behind this bidding war, which is driving ventilator prices sky high. In an emergency situation, things are different.
We’re not talking about corporate tax incentives. These are ventilators that states and hospitals desperately need. It’s life and death. And there’s no choice — each state has to keep paying whatever it takes. They’re on their own.
This is one of those war-like situations where you wouldn’t want to have 50 states bidding for defense supplies, said Bill Glasgall, head of state and local initiatives at the Volcker Alliance. “It would just make no sense when it’s a national problem.”
The Trump administration could centralize things and put a stop to the bidding war, Brunjes suggested. “The federal government could easily step in and and say,: ‘Governors, stop bidding. We’re going to buy these things and give them to you,'” he said.
For now, states have mostly had to fend for themselves. FEMA recently got involved, but it’s essentially just joined the bidding war for ventilators — in some cases, bidding against states like New York and Massachusetts and winning.