The most common conception of Capitalism is that it is an economic system consisting of privately owned businesses and large corporations that are run for profit. The profit comes from running the business efficiently and keeping the products and services up to date and competitively priced.
In fact, Capitalism has a vested interest in creating new wants and making people unhappy until they acquire the next good.
A person without an Apple watch is perfectly content with his present watch but when he sees his friends buying the watch, he will hanker for an Apple watch. The endless cycle of wanting, getting, and wanting again is part of the plot of Capitalism. It is the way Capitalism creates jobs. The only antidote is Buddhism that holds that people might be happier by renouncing desire rather than by striving to satisfy desire. But then how can the economy create enough jobs in a Buddhist society of "less is more."
We need to take a close look at the relationship between the economic system of Capitalism and the political system of Democracy. A democracy with high concentrations of private wealth buys votes and interferes with the ability of Capitalism to perform well. It is no longer one citizen, one vote.
With the rise of capitalism, it became more obvious that people pursue individual self-interest. The great nationalist in Italy, Giuseppe Mazzini, a wonderful philosopher, said that we need the nation. We need something that people can lean on, from which they can then reach out to the whole world. The idea of all humanity is too vague. It can't motivate human aspiration in a reliable way.
If you establish, or reestablish, local economies on the right scale and with the right standard, then politics would come right as a matter of course. I don't know what you'd call the result - probably not capitalism or socialism.
When I think about capitalism, I think about all the small businesses that were started because we have the opportunity and the freedom in America for people to do that and to make a good living for themselves and their families. And I don't think we should confuse what we have to do every so often in America, which is save capitalism from itself.
We are the United States of America. And it's our job to rein in the excesses of capitalism so that it doesn't run amok and doesn't cause the kind of inequities we're seeing in our economic system. But we would be making a grave mistake to turn our backs on what built the greatest middle class in the history.
Capitalism is based on the principle that everything has to be privately owned; it can't be held in common. There is even a dogma, which is today called, the "tragedy of the commons" which holds that if things are held in common they are going to be destroyed. If they're privatized, like you give them to Bechtel or Monsanto or ExxonMobil, then they'll be preserved because that's the capitalist's religion.
I often think that the reason capitalism hasn't completely destroyed everything is that a huge amount of anti-capitalist endeavor goes on, from labors of love, nurture, friendship, and barter to gift economies and different kinds of exchanges, not just one alternate model but a whole host of other ways in which we engage with each other and with the world that aren't financial and debt-based.
People are actually very good at being communists in the sense that they instantly abandon capitalism, that they love these relationships of mutual aid, because the astonishing thing about disasters is that people are often weirdly joyous in them, because they've recovered a sense of agency, a sense of power, etc.
The working poor are the people suffering out subprime mortgages and fatal loans and more and more of our money - you know, capitalism is operated by extracting money, not so much directly being paid.
The difference between capitalism and feudalism is that under capitalism, they make money directly through wages, manufacturing, and commerce and under feudalism, it's directly through juro-political means.
Capitalism is like this fractal thing where anything that contains an element of capitalism anywhere inside it is just something that turns into capitalism. It is an incredibly defeatist attitude. If you choose to look at reality that way, I suppose you can, but you have to do enormous violence to reality to do so consistently.
I think we need to think of capitalism as a very bad way of organizing communism. Much of what we do is already communism, so just expand it.
We don't live in a capitalist totality. Capitalism couldn't survive as a totality anyway. We live in this complex system and we already live communism and anarchism in a million forms everyday.
The example of Russia reminds us that keeping up that enormous dead weight of the security apparatus required to enforce the ideological conformity to preempt anything that looks like an alternative or a social movement is destroying capitalism.
Capitalism is not about the profit motive. Capitalism is about free markets. What you do in the market, in your free will, is the essence of capitalism.
Capitalism is the only engine credible enough to generate mass wealth. I think it's imperfect, but we're stuck with it. And thank God we have that in the toolbox. But if you don't manage it in some way that incorporates all of society, if everybody's not benefiting on some level and you don't have a sense of shared purpose, national purpose, then it's just a pyramid scheme.
What we've undergone in recent decades worldwide has been totally insane, and all of this is a result of capitalism. The workforce in Latin America was treated as a vulgar instrument for capital accumulation. Mechanisms of exploitation were imposed, such as outsourcing, labor mediation, and the like.The results are plain to see: greater inequality in Latin America; unemployment is higher than in previous decades; we haven't resolved the problem of poverty; we've lost a great deal of sovereignty.
For me, it was always clear that Toni Erdmann is more a film about what globalization, capitalism, does with private relationships much more than making a "political" film. It's more interesting to raise questions, because I don't feel in a position to "make a statement" with the film. Toni Erdmann comes from a completely different generation then his daughter, it's the post-war generation, they were very politically engaged. They raised their children with a lot of human worldviews, sent them out in the world believing in a world without borders.
I believe the world, and particularly the Judeo-Christian West, is in a crisis. And it is a crisis of - both of capitalism, but really of the underpinnings of the Judeo-Christian West and our beliefs. We are in an outright war against jihadists, Islam, Islamic fascism. And this war is, I think, metastasizing almost far quicker than governments can handle it.
I don't know who you would blame for this, whether Ricardo or others, but we created a fictitious economic theory to praise a rentier or rent-derived, interest-derived capitalism that countered productive forces within the economy.
We're supposed to live under capitalism, and capitalism is supposed to be competitive so you would expect that capitalists and entrepreneurs would like competition. Well, it turns out that capitalists do everything they can to avoid competition.
The ultimate cause of the October Crisis was the ideological embrace of Milton Friedman's warped but still dominant view that "the only social responsibility of business is to make a profit for its shareholders," and until that socially and economically counterproductive - and empirically, legally and ethically inaccurate - view is corrected, we will continue to have the increasing and more intense crises of global capitalism that we have seen recur with ever greater frequency over the past forty years. Sadly but clearly, the lessons have still not been learned.
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