During the capitalism hot or not meeting, we talked about how social media platforms advertise the negative aspects of capitalism. There was a comparison on communism and capitalism where we talked about how the wealthy class gets wealthier and the poor gets poorer in America. Over the last two decades the middle class in the U.S. has definitely shrunk. However communism, as proven by countries like Cuba and Venezuela, end up in a large scale population of a poor class and a huge amount of scarcity in resources needed to survive.
Another topic we touched on during the discussion was the value that we place on materialistic items. This is where social media plays its role and the wealthy make their shopping life a public entertainment. Celebrities making their shopping life public provides lower income people with the feeling of desire and wanting items of “high value” even though it can most likely be found a lot cheaper for the same quality.
