Capitalism is not the problem.
Capitalism is an Abstraction.
The Criminal and War Economy is the problem.
YOU are the Solution.
by Cameron Pike for The Saker blog
Capitalism is a very loosely defined term. When you look up the definition in the dictionary and compare it to Marx’ description in the context of leftist discourse today, it has become a catch-all and vague phrase which implies that all private business for profit leads to corruption and greed. The actual definition of Capitalism is an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state. But the former is the actual thinking of most when they blame all of our problems today on Capitalism.
ARE THOSE TWO DEFINITIONS CONGRUENT? DO THESE DEFINITIONS ACCURATELY DESCRIBE THE PROBLEM?
Neither are appropriate. They are wholesale, absolute, vague and abstract when compared with the reality that private business owners make up small, medium, and large businesses. It is how average folks still make a living, albeit shrinking fast as most successful businesses wait for the big buyout from a mega corporation, a climate which NAFTA created. Frankly, in an age where overt corruption at the very top of the chain is the overriding control mechanism by which most squirrels get a nut these days, describing our socio-economic problems with these definitions just don’t cut it. And everyone on the left and the right are affected in the same way if they own a business or not.
Most online discussions today about poverty and austerity, especially in social media by even those with the best of intentions, are vacuous; filled with lots of words that don’t have any tangible meaning – no physically equivalent value. Disconnected from this hollow definition is the very essence for which value is given to anything which sustains and increases the quality of human life. We give up our intellectual reason to authoritative voices on topics we don’t know enough about very easily when such abstractions are deployed. I’m not blaming anyone. We are all prone to this, myself included. And this is tricky stuff.
It is best and more efficient at this point to define the word ABSTRACTION:
- the act of considering something as a general quality or characteristic, apart from concrete realities, specific objects, or actual instances.
- an impractical idea; something visionary and unrealistic.
- the act of taking away or separating; withdrawal: The sensation of cold is due to the abstraction of heat from our bodies.
- secret removal, especially theft.
- absent-mindedness; inattention; mental absorption
- the quality of dealing with ideas rather than events
During the first dog-days of Occupy, there was renewed hope among many participants and well wishers, myself included, that a generation of young people could finally explore solutions to our broken economic system in a way that was educational, empowering and fruitful. That optimism lasted almost 5 minutes. As it turns out, these young people were only angry enough to make a sign or dangle donuts on fishing hooks in front of cops. They defended their alt-left hero Obama, who bailed out Wall Street’s ‘too big to fail’ monstrosities with our money.
Today, those same bankers who were bailed out, we are told, are way too big to jail. This is actually not at all true, regardless of how the ‘law’ has been rewritten. They can be jailed, and they can also be thrown head first off skyrise rooftops… but I digress. This digression will be handy later when I ‘splain the concept of the General Welfare, embedded in the United States Constitution. This same concept is also the foundation of the Belt and Road Initiative China embarked on in 2013, enshrined in the CPC constitution in 2017. So, earmark that thought.
The REALITY Today
The 99.9%, which includes small, medium and large-sized business owners, still allow themselves to be at the mercy of liars, cheaters, and mass murderers. The best words to describe their characters are: narcissist and psychopath. The faux-leftist post-modern Social Justice Warriors that emerged from Occupy under Obama and Soros’ all-seeing eyes have prolonged today’s fiscal quagmire, leading the way for abstractions galore; gender pronoun policing, Russia-gate, Assad is a dictator, etc, etc, etc. Since those fateful days of Occupy’s tumultuous and painful beginnings, the bankers have gone ahead unabated, in a very convenient and successful marriage with the Military Industrial Complex (MIC) – the war machine that identity politics activists and social justice warriors NEVER talk about. Most of them with few exceptions don’t know anything about how the Big Banks (Finance Capital) are tied to the MIC.
Alas, the concept of the General Welfare is still not understood AT ALL. Bernie Sanders did a good job of corralling the thinking intellectuals on the left into Hillary ‘War Hawk’ Clinton’s slaughterhouse that countries like Haiti and Libya truly understand. Using abstractions like ‘Capitalism’, the left has been corralled into much, much worse by either well-meaning activists, or actual Imperial agents at the behest of the same bankers who got away with literally stealing entire countries’ money, lives and future, one after another after another over the last 120 years using the MIC to facilitate. For all the speculation about what is happening in Palestine, Yemen, Syria, Ukraine, what happened to Libya, for all those blaming today’s conflicts on religious differences or cultural conflicts, or the never-ending left and right ideological throw-down, friendship-ending, family-feud-starting arguments, I say all these are just distractions, because the bankers and MIC continue pillaging and killing without any resistance from you.
The Bankers and their marriage with the Military Industrial Complex (F+MIC), by whom you or your friends and family are likely employed to some degree, continue raping, stealing, and murdering using these legitimate issues as their cover. The ‘Minster’ who married them are the various government heads of the Atlantic countries in concert with agents embedded in the mainstream media. The code word used by Imperialist think tank and media agents, like Alistair Heath of the Sunday Daily Telegraph is ‘Liberal economics’ or ‘Liberal Democracy’. This is a marriage made in the depths of Dante’s Inferno. Legitimate, real issues have been, and are today, made more potent and dangerous because of billionaires like George Soros, the Rothschild’s, Rupert Murdoch, Dick Cheney, Jeff Bezos, Warren Buffet, Bill Gates, and their political puppets like Obama, Loretta Lynch, Justin Trudeau, Chrystia Freeland, Theresa May, Emanuel Macron…the list goes on. Any political official not discussing and organizing tangible ways of bringing back the principle of the General Welfare into law, is either an instrument of distraction or are themselves the cause of that distraction. Trump, today’s lead political aberration, has yet to make the right moves, despite his stated intention of passing the Glass Steagall bank separation act.
Glass Steagall effectively BANKRUPTS Wall Street, the City of London, and the MONETARY system we’ve been living under since before WWI, otherwise known as Finance Capital. This is the same monetary and usurious system which is continuously confused with the word ‘Capitalism’. This is also the same system that allows endless wars abroad, cold-blooded murder, FUKUS airstrikes on innocent civilian’s time and time again under blatantly false pretenses, and the arms industry that supplies them. Most Americans with a middle to upper class salary depend on this very large spider web-like industry to feed their families.
I intend to inject through the words in this article, a proper explanation into your mind as to why blaming Capitalism for the problems of the world is pointless, futile and perpetuates vacuous discussions producing zero action to stop the war and looting by the F+MIC. It is this THINKING which is the problem, and why the Oligarchy’s wars of Imperialism will not end unless said bankers see their own feet dangling over the edge from 30+ floors up.
Oligarchs and CEO’s of private banks and their henchmen are real people: they have names and addresses. Their livelihood depends on keeping the Oligarchy in control of the FMIC. They are also narcissists and psychopaths.
Loretta Lynch cinched the private banking industry’s corset in the aftermath of the 2007 financial crash. She made all the heavily compensated banking CEO’s look like maybe they had just gained a couple pounds, which she tucked nicely under layers of taffeta and boning. But Never Fear, Obama said! The bankers were back on the catwalk after reassurances that the banks would be FINE – oh, you thought he meant you and I would be fine, right? His solution, like Bush before him, was that we just needed to keep spending the economy back into shape – kind of like eating nothing but Twinkies and calling it a diet.
Meanwhile, what was really going on was the following: through rose-colored glasses we’ve been fawning from the benches over what look like perfect 10’s. But take off those glasses and you’ll find you’ve been getting a B.J. from a chubby hooker wearing Prada in a back alley. That same hooker continuously steals from your wallet, distracting you with you-know-what, then beats herself and tells her pimp that the bruises she got were from you. I think we all know how that scenario ends. The Loretta Lynch-type administrators are the pimp, we are the johns, and the bankers are, you guessed it. And worse, the hooker and the pimp continue to get your business because sex is as fundamental to human beings’ existence as is chocolate and coffee, I mean, food.
Feel dirty yet? You shouldn’t. I’m not sex-shaming here. But I am trying to point out that the only reason people pay hookers for sex in a back alley, except where narcissism and sociopathy is present, is because they are damaged and desperate for human connection. They usually don’t have anywhere else to turn. Where the economy is concerned, desperation is the prime motivating factor which keeps people like you as repeat customers. What can I say? Life can be messy.
Ok, hookers and degrading sexual acts aside, you should feel disgusted even without the metaphor. But nothing has worked so far despite A LOT OF EFFORT on the part of well informed political and economic organizers. I will continue using a healthier metaphor, but I think I’ve set the appropriate stage here. Americans, Canadians, Europeans, Africans, Middle-Easterners, most of Asia and South Americans have been held hostage to the international money-laundering frauds controlled centrally by the City of London, Wall Street, the IMF and the World Bank with the MIC as their front line of offence. They’ve deprived us of our basic human physical and emotional needs for so long now that we have all settled for getting a little at the risk of war, death, maiming, disease, extreme poverty, and starvation – the equivalent of a venereal disease or even AIDS. The worst is that the most cruel and debilitating devastation, with your support and lack of resistance, has fallen on people whom you will never meet or know around the world.
Please, don’t just read those words and think it doesn’t apply to you. We’ve all been desperate at some point or another.
A Healthier Metaphor:
Everyone needs love, right? I mean, what’s a man or woman to do when they’re stuck in a bad relationship? See, a healthy, loving relationship should be like a healthy economy. The long-term health of any relationship depends on much more than just sex. But sex is as vital and as important as the other aspects. It is indeed the beautiful and natural act that causes our existence. If we’re lucky some of us find balanced loving relationships with good sex, and some of us go through painful learning lessons; Right person, wrong time; Wrong person, right time; or the all too ugly scenario, wrong person, wrong time. Sex has too many variations and qualities to compare its value to a long-term emotionally healthy relationship. But, as a whole, the best word to describe a truly healthy relationship is RECIPROCITY. And this goes for friendships, employer/employee relationships, and the like. It also goes for governments and the proper relationship they should have with their respective constituents and other countries on behalf of their constituents.
RECIPROCITY: the practice of exchanging things with others for mutual benefit, especially privileges granted by one country or organization to another.
Doing business in an actual healthy economy is exactly like being in a reciprocal relationship where love, acceptance, and sex, if both partners are healthy, is both given and received. Sometimes when one partner isn’t healthy and needs help, the other partner does a bit more of the work (cooking that partner dinner as a thank you is nice 😉). This is the same principle at play in a healthy economy where the economy is set up to help the less fortunate when they’re down. Two people who share a soul bond, one where you know what that person is thinking before they speak, or they call you when you think about them, when you finish each other’s sentences and feel completely comfortable in each other’s presence, don’t always need a lot of sex or any at all. Sex with a stranger is usually a substitute for the lack of closeness in an existing relationship or a lack of human connection in general. We’ve all been there. This is nothing new. But it serves as a good metaphor to get us to finding a proper solution to today’s problems.
Back to the Future Economy:
To say that doing business for profit always leads to corruption and greed on the scale we have today is like saying that sex always leads to a relationship or that a good sexual partner will also be a good life partner. I mean, Come On. In an unhealthy relationship, there’s likely some deep-seeded problems in each person to begin with that spreads like a contagion to each other, and the problems are usually there because there is little to no reciprocity, unbalanced. A man or woman in a healthy reciprocal relationship, like a healthy economy, doesn’t need to look elsewhere for, um, excess ‘profit’ unless narcissism or sociopathy is a factor. They give each other what each other needs to better the quality of each other’s lives. That is, in fact, why they are in a relationship. In a healthy economy, business/customer relationships, business to business relationships, government/business relationships and government/citizen relationships compensate each other for their goods and services – and time. This is a reciprocal relationship or at least it is supposed to be.
If you’ve read this far, you may be thinking – what is this woman going on about?! Why is she comparing sex and relationships to the fricking economy for GOD’S sake?!?! It may seem like I am getting a bit personal here. This IS, in fact, my intention.
Private Banking versus Capitalism: Narcissistic Supply and Abuse
The reason I make this personal is the following: The Oligarch’s and their henchmen currently residing and working in the City of London and Wall Street have physically and emotionally violated 99.9% of the planet’s populations. It is the same as psychological RAPE; taking a family home using their ‘power’ over the financial system, and then blaming the victim using Senate and Congress and so-called ‘financial experts’ as their thugs, is no different than being in a relationship where one partner is the narcissistic abuser, their friends (Congress, Senate) are the narcissist supply, and the other partner, you and I, are the abused. Then your partners’ friends (Senate and Congress) call you ungrateful because you don’t thank them for reluctantly giving you food stamps and drug-ridden homeless shelters after the abuser took your home.
To top it off, they use big data companies run by unfeeling, unscrupulous CEO’s who wouldn’t dream of giving up their own personal information to the public, but quite willingly sell your personal information on the open market. Your awareness of this keeps you subservient; you censor yourself and are immobilized from effectively organizing resistance to the F+MIC. Rest assured, resistance is NOT futile.
Most of us have been in a relationship with a person who has narcissistic tendencies, which is an increasing phenomenon today with the rise of Post-Modernism. What usually happens is we get angry for being abused, lied to and blamed for things we didn’t intend to do or that we didn’t do at all. This justified anger turns into helplessness. Then we feel or are made to feel guilty for acting on or verbalizing our anger. When we lash out, and, as the inevitable punishment ensues, things get much, much worse. MOST of us, however, don’t lash out. We suck up our anger and pain, while the confusion festers inside us like cancer. It grows internally, until one day it reaches a vital organ and eats itself. Most people going through this phase who have no proper support system or understanding of narcissists turn to addiction; alcohol, legal and illegal drugs, gambling (the number 1 and under-reported addiction today), video games, Facebook, and sex. Then we go through varying stages of self-blame, more guilt, depression, and illness. The addiction continues to dig in its heels as we rely on self-medicating to get through the day. To rationalize the blame the narcissist heaves on us to our friends and family, we create ‘reasons’ why we are wrong, and the narcissist is right. After all, we’re the one with the addiction, right? There must be something wrong with me!
Well, there is something wrong with you. And it’s NOT that you DID anything. It’s that you weren’t given the tools or proper understanding to effectively deal with narcissists and psychopaths. Those who don’t get the proper help succumb to the abuse and then become a narcissist abuser themselves.
SO, let’s get to the solutions to this inter-personal national and international mess, shall we?
RESOLUTION:
- a firm decision to do or not to do something
- the action of solving a problem, dispute, or contentious matter.
- The conversion of something abstract into another form.
We are not a consumer society.
Oligarchs are.
We are a Species That Needs to Consume for our existence. We eat to live.
Oligarchs live to eat.
We are as natural as the stars in the sky.
Oligarchs are a small but powerful irregularity.
We are the many.
Capitalism abstractionism blames all privately-owned businesses, when it is in fact the Private Banking Industry (Finance Capital) which is the controlling mechanism that drives our destructive imperial and criminal war economy. The City of London is the worlds headquarters for the Private Banking Industry and Wall Street is their subsidiary. The City of London is 1 square mile inside London. They have their own laws, their own Mayor, and the rule of law that applies to the rest of us outside that square mile does not apply to them inside. Finance Capital also actively and intentionally facilitates the funding of international terrorism, including ISIS.
Capitalism abstractionism doesn’t name names of CEO’s who have become frothing-at-the-mouth obscenely RICH using both well paid and underpaid employees to carry out their agenda. It also implicates small, medium and large private business owners who do not speculate. These private bankers have taken something very personal from the vast swaths of American, Canadian, European, African, South American, Middle-Eastern, Asian, and the former Soviet Union’s citizens; almost every nation on the planet has been affected by these very specific assholes for the last 100 years (it goes back much farther but this article is not meant to be a historical undertaking of that subject. There are much more important things to understand at this point in time). The only country where these same people have not fully sunk their hooks into the meaty flesh of existence today through military or financial means, in some form or another, is China. Not that they haven’t tried and not that they won’t try in the future. I attended an event recently where one of the oligarch’s mouthpieces explicitly stated that the West will be heading into a new cold war with China.
Bankers use the Military Industrial Complex to Facilitate the
Killing and Looting of Countries the Media Demonizes
The British Imperialists and European Oligarchs who effectively control the City of London, with their lapdog poodle France and others, are very weak after the Skripal debacle, the ongoing Russia-gate nonsense, and their latest catastrophe in Syria convincing Trump to go along. Wall Street’s control over the U.S. economy is hanging on by a very thin thread, propped up only because the giant transnationals are buying their own stock (this would be illegal under Glass Steagall legislation). After Trump went along with Macaroni’s plan to bomb their own assets in Syria, attempting to erase evidence of FUKUS’ direct involvement with ISIS, Al Sham, Al Nusra, etc, Raytheon’s stock shot up. Are Raytheon’s stock holders on the front lines? Are their children? No, they are not. However, are Raytheon manufacturing employees’ children in the military? Likely, yes, because the employees in the MIC also form part of the narcissists supply.
Resolution: Step #1
Before bank separation was repealed by Bill Clinton in 1999, the market was controlled in such a way that businesses could not make crooked and obscene profits so directly. After Glass Steagall was repealed the market has been continuously manipulated by the ‘Ministers’ (politicians) who married Wall Street with the part of the economy that is supposed to increase the value of our quality of life. This part of the economy is called the Physical Economy, which, if healthy, facilitates the positive net benefit, the General Welfare, of the 99.9%. Glass Steagall reinstituted today would build a firewall around the physical part of the economy. Life, Liberty and the Pursuit of HAPPINESS (NOT property) was the dream of some founders of the United States Republic. ‘Property’ was the dream of other Republic founders, plantation owners for example. To them, ‘property’ included human beings. The same principle applies today to those running the F+MIC. When FDR first instituted Glass Steagall in 1932, it was his intention, in principle and action, to protect and empower the 99.9% from these blood sucking narcissists and psychopaths. It was the General Welfare principle he was bringing back, which is embodied in the phrase ‘Life, Liberty, and Happiness’.
China’s Belt and Road Initiative (BRI), the building of massive scale infrastructure using State Owned Enterprises (SOE’s), where the debt is owned by the government (the returns go back to the government as well, instead of to private banks), is the best example of a healthy, reciprocal physical economy, and of the General Welfare in action. If the U.S. were to institute bank separation now, the money, effort, and slavery to a criminal and war economy would effectively stop because the speculation of the City of London and Wall Street could no longer use YOUR hard work and savings to continue feeding their speculation and obscene profits. This is where step #2 comes in, National Banking.
Resolution: Step #2
Once Glass Steagall were to be put into effect, say, through an EO by Trump (just a suggestion), a National Bank would need to be re-instituted. This would perform the exact same function and operate exactly the same way as China’s SOE’s which are funding the BRI. The debt and the returns on that debt would go back to the National Bank instead of the system which Raytheon, et al, is a part – the Pimps. Money and effort formerly pumped into the slave, war, and looting economy, killing innocent people so that you can feed your family (remember, you’re the John) would instead go into building infrastructure at home, schools, education, healthcare, roads, investment in science and technological advancements that would eventually weed us off oil, like Gen IV Nuclear Reactors and likely Fusion power. The latter would eradicate pollution.
In essence, if Trump were to institute Glass Steagall today, the war economy, the narcissism, the pimps, your slavery to a system you fundamentally disagree with but are desperate enough to risk life, limb, and early death for, and the narcissists’ supply would dry up. Trump’s base of support or anyone who might have Trump’s attention and is serious about organizing against illegal foreign wars and picking losing battles with another nuclear power, should consider organizing around this policy – NOW – while the psychopath is weak. Anyone can organize for this whether as an individual or an individual organizing a group to get these policies instituted. Start the conversation at the very least and see where it leads, without abstractions. See where it goes.
Get specific. Turn the abstractions into a proper form, Glass Steagall and National Banking, which begins the process of creating a new paradigm where narcissists get their just and proper treatment, where reciprocal relationships become the norm, not the exception. You’re allowed to be angry. Its an appropriate and natural emotional reaction to this mess. But, if you are only shouting abstractions, well…
Focus that anger, not only by making a sign or holding a media-ignored protest (a classic narcissist tactic). You should be angry enough to call your senator and congressman, you should be angry enough to break the City of London’s grip on the west and 3rd world countries, keeping you enslaved by filling shareholders offshored coffers that decrease the value of you and your family’s quality of life and killing millions of people abroad.
So many people ask me, ‘What am I supposed to do?’ After doing this for a few years, I can tell you one thing: sitting at the table with these people, looking them in the eye at close proximity, is HIGHLY effective. Courage is required. Speak your truth quietly and clearly. They will understand that you’re serious, and you will see them get very uncomfortable. Empower yourself.
In the end, what the City of London really wants is to control the United States for it’s vast economic resources, where the profits go directly to their private Island gorges, furthering your enslavement to the criminal war machine while maiming and killing innocents around the world. On top of it, you don’t benefit, AT ALL (unless you’re in it for the score or the ‘hit’ – in which case your problems can only be fixed by a professional). You and I get their scraps laden with false guilt. This is debilitating and prevents any defensive action by the abused person. With any luck, after Glass Steagall and a National Bank are reinstated, the United States government and other narcissist victims/suppliers might just go back to the One-Party Republic-style representation it was supposed to be. This is what the Oligarchy and the City of London really loathe.
We all have a lot more in common with each other than we do with the blood sucking Oligarch narcissists and their narcissist suppliers in that one square mile called London. Tell your elected officials that they need to put an end to this abuse or you will fight back using your 1st amendment right to organize for your 2nd amendment rights. Because as the Saker himself said, and I think we all know he’s right: the fighting and killing is not going to stop, and it WILL lead to a nuclear explosion. Unless we put an end to the F+MIC’s criminal war economy and stop it cold, it will continue unabated no matter how many abstractions we hurl from the streets or online. One thing about narcissistic psychopaths is proven: they don’t have a conscience like you and me. They don’t feel fear. However, they do know the consequences of their actions if they lose. This is a battle for our very existence. Show them the whites of your eyes.
Capitalism tells me that I must be a slave. I must work long hours to make a few other people very rich. I wasn’t born into a rich family, so I don’t have ready start-up capital to start a business. And no bank will give me a loan. All capitalism tells me is that since my familiy wasn’t rich that I have no choice to be be a slave to others.
And that is if Capitalism actually lets me live. The pure capitalists want me to die because I’m broke and can’t afford the ransom that they want to charge for health care. Its the socialist-like features of society that provide me health care despite my not being rich.
Well, you dissed the oligarchs pretty good. But your thumbnail sketch of armed revolution lacks a lot of teeth. We know we are screwed, and we may all be toast soon, but we really don’t know how to fix this mess that has been brewing ever since the birth of humanity. If we could just be honest enough to admit that, we might proceed with some hope of finding real answers. Pretend revolutions that will not happen are really no help at all.
It can happen. The armed enforcers they use against people ? Made of people. The soldiers they use to plunder and occupation ? Made of people. The masses that supported these two too were made of people. Reach out to these people first and foremost. There is still people from these class that have the same minds with you, us, and everyone else that think alike.
The first mistake that we make in political movement is always because we think we’re alone in this and we had no chances. People wouldn’t want to sacrifices what little comfort that they’re left with to make changes that may very well for naught. But then there would be no chances for anything to change at all.
Did you know Bradley Manning ? Or Julian Assange ? Or Vaneesa Beeley ? These people went against the flow.
Exactly. Us 99%plus are slaves to the .0001%. But we have been brainwashed to think that “we are free” and “this is the greatest country on Earth.” So we really never think of revolting, as obvious as that should be.
Simply put your interest down the line. Did you want a nuclear exchange with Russia ? You don’t and i bet everyone else too don’t want that.
You’re boarding a train that heading into the cliff. Your option is to jump off or forces your way to the locomotive cab to stop the train.
So i should say staying would be too foolishness even more than the cowardice that make you choose that option.
Except slaves don’t get salaries or property. And capitalism can even provide you your precious health care. What you therefore really want are fair wages, not equal wages because not all work nor their end results or effiency are equal. And subsidiarity in all things where power, wealth and access to neccesities, in in the hands of as many local individuals as smaller cooperatives as possible, beginning with the family.
Anyone imagining their Starbucks serving job as comparable to ‘slavery’ is a spoilt brat with absolutely no notion of actual slavery or economics or reality itself. In fact it is simply envy when one must complain that they are not Bill Gates’ son and therefore can’t start a business. Who would then be hired to work for you? Would that then make you a slave owner?
It is ridiculous statements like this as to why so many dig their own graves and somehow think exchanging a crony corporation for a government monopoly would somehow be different when the crooks will simply move from one enterprise to the other.
It’s high time the 20th Century people took the lessons of the ancestral betters since as far back as the exodus and think long term for their children’s children and save wealth to pass on via inheritence signified as both money and private property so that they can be ‘rich’ to be more independent and start up a business and look after employees fairly. Unless they turn out as spoiled children and start protesting capitalism before doing the true socialist responsibility where one’s labor and wealth are distributd to wife, children and eldery parents by the responsibility of his own hands rather than have it taxed by government, and unable to be inheritd which is actually closer to slavery. Made all the worse by usury, usually on loans made to the state precisely for more socialist programs.
it’s not capitalism telling u to be a slave. it’s the entire system that is stacked against you. the system is intentionally manufactured this way. that is what the author is trying to tell the Whole Wide World.
the ideal of capitalism has been subverted by the authors of the current monetary and economic system we live in. it is an intentional system of robbery without the victims ever realising they have been robbed even though they, the honest people work hard. if you understand the structure of the monetary system (hint: interest rates) and the people involved, you will realise that socialism, that is to say, freebies, is a construct meant to constrict you to a semi-blissful and ignorant state of serfdom.
please educate yourself (and i do not mean this in a derogatory manner. afterall i was asleep once).
CAPITALISM IS ! THE PROBLEM.
By concentrating the resources into one single region to use it create an illusions of abundance and it tends to misled the people into overuse, squander, and dependency. If the people never have enough gas to use they’ve been long trying to solve the problem with being inventing alternative to the gas.
The Problem is Capitalism, Currency, and Humanity moral’s.
I fully second that.
And I’d just like to simplify it further.
It’s all about the motivation and the values – that are behind it, be that capitalism, socialism. Or as you suggested rightly the morals.
My definition of capitalism is “the main value is the money” (or capital), money is the god (and as a side mark, we’re seeing the extremes of it today where it is striving and is replacing the religion as it was).
All other values are subservient to that one. Social, family, personal, religious etc. don’t really matter if they clash with the above, top goal. The goal is not the human progress, as the author, I’d say naively, idealistically tries to pin that to the idea of capitalism. That was never the goal, that’s just an excuse.
We can put regulations and makeup on the core capitalist ideas, but that’s not capitalism any more, that’s giving it socialist ideas and mixing it into some other potpourri. And it’d never work if we don’t get rid of the money as the main driving idea behind it. Europe is one example, it had (had) a tradition, cultural background and different values that initially promoted a different kind of capitalism, which wasn’t a capitalism. Until that was eaten by the corporate neoliberalism, blood sucking money and greed driven system.
China is not really an example of capitalism, it’s just a conformist Chinese way of approaching the goal of socialism (and their historical and embedded social values are driving force behind it, not the socialism, not the capitalism).
What I’m getting at is, you can put a makeup on a pig, you can regulate, you can try and it may work for a little while. But unless you get rid of the basic idea (or somehow work that into a more palatable idea for the whole mankind), which is the money and more money, it’s very fast going to go back into the real, hardcode capitalism, as there’s no other way.
I.e. capitalism is the problem, as other and real human values no longer partake in the solution. Human values are actually standing on its way and are undesirable.
And give it enough time and it’s going to go to extremes, diminishing the value of any real values, religion, family and so on – anything for the sake of good “progress”, i.e. making more capital, and faster. It doesn’t matter that it’s going to destroy us all, and fast, as that really is not important.
Communism forgets that life is individual. Capitalism forgets that life is social, and the kingdom of brotherhood is found neither in the thesis of communism nor the antithesis of capitalism but in a higher synthesis. It is found in a higher synthesis that combines the truths of both. -MLK
Market socialism is too obvious and would eliminate the rentier elite class, therefore keep the honest plebs arguing between each other about collectivism and a truly free market. Divide and rule.
Who created me, the State or Nature?
What created the State, Man or Nature?
Who is the most superior, creator or creation?
Am I a human being?
Was I born free or as a slave?
If I’m not a slave, how could anyone be my lord?
Are not we all born with equal freedoms and rights?
If so, how can someone claim authority over me?
Capitalism vs Pyramid Games. The whole financial system is a big lie. Everything is there just for the slave to believe, imagined that he is free. We are born free and become slaves later in life. Look around what do you see? Are they free people or are they invalid, sick or are they in tight cells? No, the biggest lie is that we are self-determining creatures living in democracies, dictatorships or just “are”. 99.99% of humanity are slaves to Mamon – Pengaguden, are you not believers to God over all gods you do not exist, simply does not exist as human beings and are you believing yes, you are slave to Mamon – Pengaguden – Bankoligarken they few families who enslaved you without knowing anything at all, or?
There is a much more concise and simple way of describing the issues we all have with Capitalism:
From around 1640 to 1980, the world had “entrepreneurial capitalism.” For sure there were industries that grew large and where exploitation was the norm but there were also the family owned businesses – the modern German “Mittelstand” and the sole trader/proprietors “Gewerbe” who were generally ethical in their approach to labour.
Entrepreneurial Capitalism meant if you were a worker or business owner or investor, in general the whole supply chain was able to survive comfortably.
Part of Germans success is due to its adoption of a Tripartite Management – where Unions, Management and Investors sit on the same board and have an equal say in investment decisions. Ironically this “German” approach was introduced by the British post-WW2 into Germany, as an experiment – but not adopted in the UK even with the postwar socialist governments.
The big change occurred in 1980, with Thatcher and Reagan. That was the start of “Casino-Capitalism.”
Casino Capitalism values a companys shares as being more important than the actual trading activity (the revenues). This has disbalanced the supply chain so that it is the Investor class which now calls the shots and removes and pockets revenues, and does not leave sufficient profit in the system for the entrepreneurial part of the supply chain.
Now, rather than valuing a company based on actual widgets produced, the value is determined by speculators, and the only way speculators can gain is by merger and acquisition strategies, which not only gives revenues to bankers/lawyers/accountants/due-diligence but also creates LESS competition, allowing price rises and higher margins – and extreme salary packages – all at the cost of the consumer.
Politicians no longer defend entrepreneurial capitalism but are clearly influenced by this new investor class which now exerts an even more feudal pressure on society.
No wonder then, that those societies that have a true socialist system, which work for the 99%, are a major threat to those societies where the 1% have most of the wealth…
A live example is worth presenting: Regus, the Office rental company had a highly successful business model and had a comfortable revenue stream. The management was exemplary, with staff very contented within the companys operations. Then they made the mistake of involving the City to gain more finance for expansion. From that moment, the company was under pressure to deliver profit to the speculators – at the cost of the health of its daily operations. I recall well the moment when Regus management wanted to do some basic, necessary and reasonable survival measures during an economic downturn. This included improving the office environment, adding some comforts which could make the business more attractive to customers. The management was forced by the speculators to desist and return more profit to the speculators. Ie under Casino Capitalism, short term gain is more important for the few, than long term survival of the many… Feudalism is alive and well and gaining.
It took from the greed and laziness of the people.
The Farmer, ranch, and fishermen have to sell for cheap their hard works (that they can’t even eat to make a little more profit) that actually the first and foremost needs of people because other people don’t want to grow or catch their own food and they do not want to pay much for them either. So these people have to work to grow or catch for much for a dirt cheap because these people taken it for granted that they’re always going to get them for cheap.
Again it’s moral. Do you look down on these cheap farmer, rancher, or fishermen ? You shouldn’t because they feed you. But the reality were different.
Well you know we take care of the farmer from the cradle to the grave,there isn’t a blessed thing he does but what there’s a federal program to pay for it.
I live in a very heavy agricultural area,county (also the county with the most cancer,MS and other cases due to sprays the farmers use,spring,summer and fall its an endless stream of spray rigs going by the house,so they can increase the profit at someone else’s expense)all so people can have their chips and fries for the potatoes they raise can’t be used for anything else, unless you wish for a pot of soupy starch that is. Also a county where cows just passed the number of humans who inhabit it,it was reported that last year the surplus milk plant dumped 1.3 million pounds of milk, the lay-off list stated in one place they dumped 1.5 million gallons of milk, meanwhile the government keeps a very high support base for the price of milk, so that farmers build barn after barn housing some 250 cows each, for a tax write off rather then “oh my God I had to pay some taxes”.Yes we need farmers but we don’t need to make it so lucrative that they become little more than welfare recipients of the federal government via the tax payer,and that’s just the way it works,for as one big farmer told me I’m not going to insult you by saying I don’t make money,good money for if I didn’t I woulden’t be in business.!!!
Chip in the trash collectors, janitors, mechanics and all the other manual labor jobs.
I disagree with the author’s title: Capitalism is not the Problem.
First off, castigating bankers and warmongers is entirely appropriate as this group (along with their enablers in government) are the worst of the bad actors.
Furthermore, I disagree with her implied statement that ‘big business’ is not the problem either.
The fact is, large companies buy the government (with cash & corporate positions) to gut regulations, lower accounting standards, lower taxes, bailouts, etc.
Furthermore, Banks and Military are the capitalist marines, as they endeavor to gain control of foreign governments, and markets, thus enslaving the populace, via high-priced goods, rape their natural resources, and leave a polluted hell hole that can not get out of debt from the bankers.
Why do you think they want to wipe out Russia, to finish the job that the bankers started in the 1990’s?
Resources, Markets, and technology, that’s why. Plus grabbing onto their billions in gold and other assets is SOP; just think of how the Bush’s for three generations have been profiting by various wars CIA opps, including some of the money from Russia in the last coup attemt.
Lastly, let me point out that our leading consumer products companies, for example, are thriving in the reduced regulatory environment and are marketing overpriced, unhealthy products, simply because they can. The reason: large size. Small business could never get away with the rape & pillage that the big boys use for a business plan.
There is another justification that apologists always bring up about capitalism: innovation, technology, etc. There is some truth that the greed of capitalists has brought about a good deal of innovation over many years. I am an old guy and am of the opinion that much of what goes by the moniker of innovation is pretty useless, often overpriced, toxic, invasive of privacy, at odds with a calm, enjoyable, considered lifestyle. So much tech has gone over to spying and warmongering, that on balance, we are worse off now than several decades ago.
Back then we had all the stuff we needed. Now we have all the stuff that makes us miserable, not to mention aggressive beings that now support endless wars.
My suggestion is there should be socialism for large entities (including government), whereby they exist, and are entitled to a profit, so long as individuals are treated like kings, not marks with a target on their backs and bank accounts.
Some suggested reforms should include Term limits, Size limits, defined corporate charters of 5 years max, unless their customers (not governments) approve renewals. Bailouts only if approved by taxpayers, who are ultimately the ones footing the bill. Low maximum net worth limits on politicians, along with life in prison for betraying the public trust.
One of the reasons the Occupy movement failed, is the militarization of police. I am sure many participants were surprised to learn (after being booked for rioting and released), that they were no longer employable. This highlights another utopian reform necessary: the freedom to protest government decisions at all levels, without repercussions. Really drastic penalties for government/corporate violations of consumer protection laws.
I think the article and my comments above could be the start of a collective concept of what the new world order should look like.
I like Ramin Mazaheri’s writings on this blog. He has pointed out a number of things I did not know about how Iran has some real progressive policies and society. I am sure he would be good for some inspiration as well.
The capitalists deregulate the big guy and hyper-regulate the little guy. But they call it “deregulation”. No, free enterprise for the little guy is almost impossible, because government regulations mean you need a lot of capital to go into business.
Get rid of the Federal reserve, owned 45% by the City and have the treasury expand the money supply. Now we pay the Fed to expand the money supply so the Bankers make money off debt, and hence love the MIC running out of control. The big bankers are parasites, see Michael Hudson’s books. Break up the media conglomerates.
Yes, and confiscate all the private wealth acquired by these who have been running and owning the debt based central banking systems. Their capital must count in the hundreds of trillions of US$.
When thinking about modern capitalist economies in the West, we should remember that the commanding heights of the economy are not controlled by small businessmen, but by super-rich financial oligarchs (e.g. Soros). Lenin’s “Imperialism — the Highest Stage of Capitalism” is a classic analysis of how capitalism inevitably evolves (or devolves) into a financial oligarchy. And the financial oligarchs are always hungry, very hungry, to ‘devour’ more and more (both inside their own countries, and abroad, which leads to imperialist wars).
Ways to counter the financial oligarchs:
* move your money to smaller, local banks/credit unions
* support alternative media
* support anti-imperialist political parties/movements
* oppose oligarch-controlled Western imperialism
Nate: Other ways to counter the financial oligarchs: 1) Buy a used mobile home for cash and put it on a cheap piece of land in the country. 2) Get out of debt if it means no cell phone, no trash collection, no heat in your house, and no SUV. 3) Get rid of your television and never read the mainstream media. 4) Move your money to cash, gold and silver in a tin box, and to raw land. 5) Get exercise, eat pure foods, and never ever go to a doctor. 6) Retire as young as you can, even if it means living on the minimum. 7) Trust your perceptions.
@ KP
May I only add point 0 of your good list: help as many people as you can, in every way you can.
“How hard it is for the rich to enter the kingdom of God!” (Mark:10,23). What’s the goal of seeking money and power? In these hours B. Bush is just dead, after refusal of medical care, and G. Bush, on a wheel-chair, the face full of sadness and pain, is buying his wooden raincoat. Poor souls, they know the answer.
Now.
Reinstating Glass Steagle and national, state and municipal public banking will absolutely be the stake in the heart of this beast. The beast know it too. Excellent article Cameron.
Whatever name you wish to give the current western socio-economic system, the word you choose is always going to be an abstraction. What else could it be?
By the way, your essay is full of abstractions from beginning to end.
By capitalism people mean the current system based on an increasingly open reliance on (and glorification of) greed as the engine of progress, vagely shrouded for decorum in various layers of pieties strictly for the birds, as it were. The famous Gordon Gekko “greed-is-good” little speech is a good approximation of the underlying “philosophy”. It is probably the logical consequence of the system that Marx described in his day, different though it may have been back then. I am not aware of a more clear, if incomplete, analysis than his. I am aware that the class division Marx focused on for his analysis is subject to a relentless and brutal red-herring campaing that functions 24/7 to hide it or trivialize it or blur it in the fog of infinite other banal divisions. The majority of those who contribute to this smoke campaign seem to do so completely unaware of what they are doing.
In any case, the current system is almost certainly depraved well beyond repair. Still, it seems extremely unlikely that it could be overthrown by any kind of internal “rebellion”. Unlike 200 years ago, the state now has at its disposal an overwhelming superiority in its capacity for surveillance, control, and elimination of potentially dangerous individuals or organizations. Most likely the system will run its course toward some kind of self-destruction, but that may take a while. Things will probably get increasingly abominable and monstruous for the foreseeable future.
Oversimplifying can be dangerous for an analysis of so large a topic as the meaning and role of capitalism that has been developing and transmogrifying for the last 500+ years. Worse is to begin that analysis with an inadequate understanding of history and those “capitalists” who operate at the heart of events.
Re: “Glass Steagall effectively BANKRUPTS Wall Street, the City of London, and the MONETARY system we’ve been living under since before WWI, otherwise known as Finance Capital.”
Not exactly, given that Glass Steagall was the creation of the Rockefeller financial group operating in the 1930s via First National Bank (“the bank of the Standard Oil empire”) and Chase Bank, “the house bank of Standard Oil and by 1933 the largest bank in the world,” now under Rockefeller control after the merger with the Rockefeller’s Equitable Trust.” (p.130)
“The only major New York bank that encouraged Congress to pass the Glass-Steagall Act was Rockefeller’s Chase Bank. Chase chairman Winthrop Aldrich was the son of Senator Nelson Aldrich, the same Senator Aldrich of the infamous ‘Aldrich Plan’ that became the core of the 1913 Federal Reserve Act.”(p.122)
Engdahl: Gods of Money, Wall Street and the Death of the American Century, 2009
Re: “When FDR first instituted Glass Steagall in 1932, it was his intention, in principle and action, to protect and empower the 99.9% from these blood sucking narcissists and psychopaths. It was the General Welfare principle he was bringing back, which is embodied in the phrase ‘Life, Liberty, and Happiness’.”
No points. Roosevelt’s National Industrial Recovery Act (https://www.ourdocuments.gov/doc.php?doc=66 enacted 6/33) was the deal organized by Wall Street to implement the plans that had been made by Bernard Baruch and Gerard Swope, the latter the head of General Electric, in the 1920s.
The object was to waive all antitrust laws and permit trade associations of major corporations to set the federal regulatory trade rules while buying off labor by legalizing and protecting union organizing and requiring good faith bargaining under federal law (these rights were reinstated after the National Industrial Recovery Act was declared unconstitutional in May 1935 by the Supreme Court with the passage of theNational Labor Relations Act, aka the Wagner Act, https://www.ourdocuments.gov/doc.php?flash=false&doc=67 enacted in 7/35) and Social Security etc. In other words, Wall Street got its way–it’s version of socialism–and the rest of us got what are now usually called “entitlements.”
(See: http://rooseveltinstitute.org/chamber-and-ge-have-plan-restore-business-confidence-and-jobs-1931/ )
See Engdahl above at p. 132 and Antony Sutton’s Wall Street and F.D.R (hard copy: “Wall Street and FDR: The True Story of How Franklin D. Roosevelt Colluded With Corporate America”
Franklin Roosevelt as an agent of Wall Street financiers, 1975
Let’s figure how we got here before we figure out where we ought to be going and how to get there.
The original flag for America was the British east India flag. Part of the fresco inside the dome of the Capitol (meaning dedicated to Jupiter) depicts young America as a slave. Banker to the Vatican? None other than Rothschild. America was never free, never will be.
Russia has less than 10 years of capitalism and that was more than enough. Post 1990s Russia is not Capitalist. The State owns the majority of Oil, Gas, Agriculture, Aerospace, and Metal corporations and that ensures that the considerations of the people come first. Private corporations are regulated severely. People worked hard in the USSR not to become rich but to acheive a higher aim, a new era of human progress. And in the Tsar times they thought the Pravoslavie orthodox world was much more important than being rich. Individual wealth is less important than collective wealth. The idea of just working like a slave (and taking out loans) so can purchase shiny things and live a hedonistic life is the anglo saxon dream. The Russian concept of Narod cannot be understood by most westerners although the German concept of Völkisch has some similarity.
… succinctly … those who despise international law are the problem !
the last time I looked derivatives weren’t against international law.
@ anonymous
You have found the perfect solution to the problem: don’t look at derivatives… it’s moral toward others and saves your soul (pay 1 and take 2).
Ever seen an ant colony collapse through debt? Perhaps it is time we followed ant economics?
http://sacredmoney.org/witches.htm
Interestingly enough the US, Russia and China all have about the same Gini coefficients, roughly in the low 40s. This means an economy which is profoundly unequal, and in the longer term unsustainable. Of the three the US is the nearest to terminal decay and decline, primarily because it is an empire. As the British soldier/philosopher John Bagot Glubb pointed out in his theory of the 5 stages of birth,youth, maturity, senescence death. As follows:
The Age of Pioneers (outburst)
The Age of Conquests
The Age of Commerce
The Age of Affluence
The Age of Intellect
The Age of Decadence.
You can pin the ascent and descent where you like on the stages above. China looks to be at stage 3, but clearly the US has reached stage 5. and it would appear that its decline is now irreversible. Empire, imperialism, are the inevitable stages of capitalism and seem subordinate to an apparent iron law of decline. Has there ever been an empire which did not conform to this pattern?
The world will be shaken to its foundations as the tectonic plates of the old and dying rub up against the young and developing. Whether the world will survive and to what degree is a moot point however.
Capitalism may not be the root of all problems, but “Love of money is the root of many evils”.
Aw, c’mon, let’s do the whole King James thing:
1 Timothy 6:10 King James Version (KJV)
10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
Actually, capitalism is always a problem.
It cheats people out of their natural relations with each other, and trades it with a one-time sale.
“The butcher, the baker, the candlestick maker…”
Old. Really old take on how humans really relate to each other. The recompense for different work was tallied, the ends were the means.
Capitalism decided to only factor what those things were worth, destroying the relationships they were shadowing.
It is the fact of the world. Denying it simply pushes human liberation further into the future.
If the Russian Empire kept being Capitalist, it wouldn’t disintegrate, The Second World War would be won with less casualties, and the population would be bigger….
If Russia supported the right-wing governments in Latin America, today they would be their partners because one by one all left-wing governments in my continents are falling like dominoes….
Capitalism is always the solution, if you don’t like your boss you can change your job or create your own job
Capitalism is the problem, otherwise we would not go from one crisis to another.
The whole system, at present, is maintained by taking monstrous debt and central banks holding the cost of money close to zero. Add to it all the virtual gains (make-believe) through derivatives and pumping up the stock exchanges with fiat money.
China and Russia are buying gold because they see what is coming.
If you are serious reader on capitalism take the book :’The Long Depression’ from Prof. Michael Roberts.
What is the alternative?
Possibly a hybrid : Socialism at state level ,controlling natural resources, and social market capitalism for the non-state actors. In other words gas and oil is state, the farms and small business are private.
Cheers
It is essential for us to understand what is meant by the word “capitalism.” For the West, industrial capitalism was replaced by finance capitalism through a long process that culminated in the U.S. through the so-called “Reagan Revolution” beginning in 1981 and continuing today.
Through financial capitalism all resources are controlled by the rentier class whose headquarters are London, New York, Paris, Frankfurt, etc., with coordination done by the Bank for International Settlements at the top.
If you want to understand how the rentier class works, read Dr. Michael Hudson on the FIRE economy (Finance, Insurance, Real Estate).
The FIRE economy is controlled by a hereditary oligarchy made up of old European banking families and their protectors among European royalty/nobility. This oligarcy captured control of the U.S. in the early 20th century and now uses American firepower as a means of international control. This control is reinforced by the nuclear arsenal of the U.S., U.K., France, and, of course, Israel. The Western intelligence services, including Mossad, are the covert enforcement arm of the oligarchy. Kissinger and Soros et.al. are the public face of the oligarchy.
The only way this can be changed is through an awakening of consciousness. How that is to be done and by whom are the key questions.
“the” is the problem. There is no “the problem”. There are many factors. All must be tested, adjusted, defended. Eternal vigilence all that.
A particularly fundamental problem is our habit of praying to God, or Trump, or Somebody, to do something.
You hold up the One Belt, One Road Initiative (OBOR) (which you refer to as China’s Belt and Road Initiative (BRI)) as, “the best example of a healthy, reciprocal physical economy, and of the General Welfare in action.” There are serious problems with the One Belt, One Road Initiative, not the least of which is that it strives to gain a monopoly on trade, as the correct name of this initiative implies.
The nature of China’s authoritarian and totalitarian political system need not be rehearsed here. Suffice to say that it is extremely problematic and exploitative. That state financing can be more productive than private can be demonstrated in other ways. If you want a healthier East Asian example of a mixed economy, a combination of State and private financial organization, look to South Korea. It is curious that you choose an example of State financing to achieve foreign policy objectives as an example of how to realign domestic economic priorities.
OBOR is an initiative to extend Chinese sovereignty beyond its (already heavily disputed, and constantly expanding) borders; and with it, the CCP’s authoritarian, totalitarian, and ethnocratic system of governance. Under OBOR, nations contract with China to achieve infrastructure projects. China loans the money, in exchange for agreements that Chinese labor and materiel will be used in the construction. When the venture fails to produce sufficient revenue to repay the loan, China holds as collateral an aspect of the nation’s sovereignty, an aspect which favours the projection of Chinese State power. You can argue for a return to Keynsean economics, the re-institution of Glass Steagall, and many other propitious economic reforms, without invoking OBOR.
https://global.handelsblatt.com/politics/eu-ambassadors-beijing-china-silk-road-912258
https://www.mekongeye.com/2017/10/21/beware-of-chinas-one-belt-one-road/
http://www.scmp.com/week-asia/opinion/article/2138499/why-borrowers-chinas-belt-and-road-will-go-euphoria-depression
https://www.fpri.org/2016/10/benefits-chinas-one-belt-one-road-initiative/
https://timesofindia.indiatimes.com/india/china-road-initiative-is-like-a-colonial-enterprise-india/articleshow/58664098.cms
https://empresa-journal.com/2017/05/29/chinas-one-belt-one-road-imperialism-infrastructure/
As to your other observations about the need for reform, of course. “Capitalism” became subject to so many disparate usages that it long ago lost much of its functionality, unless the meaning was carefully specified. The term can still have some utility, however, as Analyst notes in his distinction between Casino and Entrepreneurial Capitalisms. Your point about abstractions should eventually lead you to the observation that considering political and/or economic systems divorced from cultures is exceedingly misleading.
”The nature of China’s authoritarian and totalitarian political system need not be rehearsed here.”
Sorry, but your Westish vocabulary doesn’t impress the way it used to do. Suffice it to say that China and Russia are working hard to break up the fiat currency regime of the West and, for a proper assessment of what the Chinese have on offer, one should look at Africa. Southern Africa is developing by leaps and bounds thanks to Chinese investment whereas the north of the continent is a living hell thanks to its proximity to the horrendous Euro-trash and its ”European values”.
”OBOR is an initiative to extend Chinese sovereignty beyond its (already heavily disputed, and constantly expanding) borders; and with it, the CCP’s authoritarian, totalitarian, and ethnocratic system of governance.”
Western ’anti-authoritarians’ will forever be lining up behind the Liberal Imperialist Establishment including the latter’s humanitarian interventions. The Chinese and Russian top class leaderships of today are an affront to both these gangs of useless Western reactionaries, and rightly so.
Yes, I think you’ve put your finger on the problem. Opposition to Beijing’s authoritarianism is conflated with support for “humanitarian” interventions (which are anything but humanitarian), Zionist expansionism — the War for a Greater Israel, Russophobia, etc. Once one accepts the conflation, then support for the current Chinese dynasty becomes a salvationist ideology.
The conflation is disingenuous.
”Opposition to Beijing’s authoritarianism is conflated with support for ’humanitarian’ interventions”
Especially in the African context, opposition to Chinese trade does equal supporting Zionazi gangsterism — Angola and Libya stand out as the paradigmatic polar opposites.
Western anti-authoritarians are totally disingenuous, forever spouting the same arrogant, preposterous tripe about every conflict between the Zionazi West and whatever countries, peoples, and leaders that stand in its way. In the quote above, just replace ”Beijing” with ”Assad”, ”Kim Jong-Un”, ”Putin”, etc. Intelligent and courageous peoples and leaders are not appreciated by self-worshipping Westerners and their pity parties.
Yes! Thank you for providing another example of this conflation, which I fear will become all too prevalent a trope, as apologists for Beijing’s totalitarianism make attempts to harness opposition to U.S., NATO, and Zionist machinations into support for their bloody-minded hegemonic expansionism.
If you wish to study China, you might think of supplementing your reading of CCP press releases and articles based on them. For the discussion at hand, a good place to start would be the writings of Owen Lattimore. Writing in the middle of the last century, Lattimore discusses the case of Mongolia, faced with overlordship from either Russia, then in its USSR phase; or the Dynasty Mao founded, then in its infancy. The Mongolians, he reckoned, would be better off with Russia, for it was there that they would be able to preserve some aspects of their culture, albeit with some subjugation.
Lattimore turned out to be correct in this assessment. Inner Mongolia was completly subsumed under Han chauvinism, while Mongolia retained some cultural autonomy. (As a characteristic of Russian overlordship, you can find the same results for the former Soviet satellite states. See Red Hangover.) The myopia requisite to dismiss objections to the draconian Chinese state — not the least of which those that come from the Chinese themselves — arises, perhaps, from ignorance to a part of the world familiar only though polemical characterizations. This would, I think, account for the salvationist ideology; a romanticized other projected out of frustration with the very real failings familiar at home.
I disagree, the problem IS capitalism. NAFTA, the destruction of labor unions and suppression of democratic worker cooperatives are all because of capitalism. Supply side economics and the offshoring of manufacturing jobs and later, high-tech jobs all started before the repeal of Glass Steagall. Neoliberalism, the form of high finance capitalism go hand in hand in world destruction. Volumes can be written about each of these developments, and global inequality is worsening each day.
I haven’t had time to read the article yet but I will as soon as time permits. This topic has always been an interesting one the question of “what form of rule best suits us humans” is one of the most important questions. Years ago I read a book called “Our Philosophy” in Arabic its called “Falsafatuna” by the great late scholar of the Shi’i Muslims, Sayyid Muhammad Baqir Al Sadr. He was the uncle of the current figure in Iraq Muqtada Al Sadr. He was truly one of the great minds in the Muslim world, and if the cursed Saddam Hussein didn’t cut his life short, God knows what other fabulous works he could have produced. Saddam had him executed in 1980 when he was only 45 years old. The book Our Philosophy he breaks down the different governance systems, and other key philosophical thoughts that make up the world. He wrote this book at a very young age, I think it was published when he was in 20’s but was written earlier then that. Also its important to remember at the time he wrote this book, Communism and Capitalism was in the heart of its epic struggle on the world stage. I will post the entire part on capitalism, its pretty long but a fascinating read. I have a copy of the book at home, but right now I’m at work, so I’m going to have to copy it from a website, so their might be some Typos. If is see to many typo’s I will repost it, once I have the actual book in front of me. Hope you guy’s enjoy.
1. Capitalistic Democracy
Let us begin with the capitalistic democratic system. This system puts an end to a kind of injustice in economic life, to dictatorial rule in political life, and to the stagnation of the church and its ideational life. Capitalistic democracy tightened the reins of power and influence for a new group of rulers that replaced earlier ones, and adopted the same social role played by their predecessors, but used a new style.
Capitalistic democracy is based on unlimited confidence in the individual, and in the fact that the individual’s personal interests naturally ensure the interests of society in various areas. The idea of such a state is that it seeks to protect the individuals and their personal interests. Therefore, it is not permissible for it to go beyond the limits of this purpose in its activities and in the fields of its operations. The capitalistic democratic system can be summed up in the declaration of the four types of freedom: political freedom, economic freedom, ideational freedom and individual freedom.
Political freedom dictates that the words of every individual be heard, and that his evaluation of the general life of the nation be respected, [as in] laying down the nation’s plans in its legislation,1 and in assigning the powers entrusted with its defense. This is because the social system of a nation and its ruling organization is a mater directly related to the life of every one of its individuals and has a great influence on his happiness or misery. It is, therefore, natural that every individual has the right to participate in constructing the system and government.
If the social condition is, as we have already stated, a matter of life and death and a matter of happiness and misery for the citizens to whom the laws and general systems are applied, it is then also natural not to evolve its responsibility upon an individual or a specific group (p. 15) of individuals, regardless of circumstance, as long as there is no individual above emotions and errors because of his unblemished intentions and his weighty mind.
It is necessary, therefore, to advocate complete equality of political rights among all citizens; for all citizens are equally subject to the effects of social conditions, and equally submit to the requirements of legal and executive powers. It is on the basis of this [equality] that the right to vote and the principle of a general election were established. These ensure that the ruling organization, in all its powers and members, comes from the majority of citizens.
Economic freedom relies on confidence in a free economy and is determined to open all channels [of opportunity] and to prepare all fields. In the economic field the citizen is permitted ownership2 of both consumption and production. This productive ownership, from which capital is formed, is available to all people equally, without limitation or restriction, and to all of them equally. Thus, every individual has the full freedom to pursue any approach and to take up any path for acquiring, enlarging and multiplying his wealth in accordance with his personal interests and benefits.
Some of the defenders of this kind of economic freedom make the following claims. Firstly, the laws of political economy that are naturally concordant with general principles insure the happiness of society and the retention of its economic balance. Secondly, personal interest, which is a strong incentive and a real goal of the individual in his work and activity, is the best insurance of the general social welfare.
Thirdly, the competition that takes place in the free market as a result of producers and merchants exercising their equal right to economic freedom is alone sufficient for realizing the spirit of justice and fairness in the various contracts and deals.
Thus, natural economic laws almost mechanically intervene – for example, to conserve the normal price level. That is, if the price becomes higher than its normal and just limits, the demand falls, in accordance with the natural law that dictates that a rise in price affects the fall in demand, and that the fall in demand leads, in turn, (p. 16) to a lowering of the price, in order that another natural law is satisfied. The fall in demand persists in this fashion, until it brings the price down to its previous level. With this, deviation is eliminated [in the long run].
Personal interest always requires the individual to think of ways to increase and improve production, while decreasing its cost and expenses. This fulfills the interest of society, when at the same time it is also considered something proper to the individual.
Competition naturally requires the fixing of the prices of goods and the salaries of employees and service personnel justly, and free from wrongdoing and prejudice. For every salesman or producer is weary of raising the price of his goods or lowering the salaries of his employees, because others, including salesmen and producers are competing against him.
Ideational freedom dictates that people must have a life of ideological and doctrinal freedom. That is, they must be able to think in any manner that they see fit and that appeals to their intellects; and uphold whatever [views] they have arrived at as a result of their own efforts or the inspiration of their desires and inclinations, without being hampered by the government. It also dictates the freedom of expressing one’s thoughts and doctrines and of defending one’s points of view and interpretations.
Individual freedom expresses the liberation of the personal conduct of a human being from various kinds of pressures and limitations. Thus, he has control over his will and its development in accordance with his own desires, regardless of the complications and consequences that may occur as a result of his exercise of this power over his personal conduct, as long as his power does not conflict with others’ powers over their conduct.
Hence, the final limit on the individual freedom of everyone is the freedom of others. Thus, unless the individual misuses this kind of freedom, he will not be harmed by living in any manner he pleases, and pursuing the various habits, traditions, slogans and rituals that he seeks to enjoy, because it is a matter of his existence, his present and his future. As long as he has this existence, he has the power to manage it as he wishes.
Religious freedom in the opinion of capitalism that calls for it is nothing but (p. 17) an expression of ideational freedom in its doctrinal form, and of the individual freedom in the practical form, that is related to slogans and conduct.
One can conclude from this exposition that a major ideological point in this system is that, as mentioned, the interests of society are embodied in the interests of individuals. Thus, the individual is the basis on which the social system must be established. The good state is that organization that can be used for the service and for the sake of the individual, and that is a strong instrument for preserving and protecting his interests.
These are the basic principles of capitalistic democracy due to which a number of revolutions have occurred, and for whose sake many people and nations struggled under leaders who, whenever they spoke of this new system and enumerated its advantages, it was [as though] they described the heavens with its paradise and its happiness, as well as the liberty, well-being, dignity and richness that it promises.
Later on, a number of amendments were added to this kind of democracy, but they did not affect its innermost substance. Rather, it continued with its most important principles and fundamentals.
1. The Materialistic Tendency in Capitalism
It is clear that this social system is a purely materialistic system that people adopted, separating themselves from their source and final end, and limiting themselves to the beneficial side of their material life. People adopted3 [this system] along these lines.
But this system, which was at the same time full of a tyrannical materialistic spirit, was not established on a materialistic philosophy of life and a detailed study of it. Life in the social atmosphere of this system was separated from any relation external to the limits of material things and benefits. However, setting up this system did not assume a complete philosophical comprehension of this process of separation. I do not mean by this that the world did not have schools of the materialistic philosophy and defenders of it.
Indeed, an advent of the (p. 18) materialistic tendency resulted from the influence of the empirical mentality that had prevailed ever since the Industrial Revolution.4 Its prevalence was due firstly to the intellectual spirit of doubt and confusion that was caused by the change in opinion concerning a number of notions that were considered among the clearest and most sound truths;5 and secondly the spirit of rebellion and anger against the alleged religion that caused thoughts and intellects to stagnate, appealed to wrongdoing and power, and supported social corruption in every battle it waged against the weak and the persecuted.6 (p. 19)
These three factors helped materialism arise in many Western mentalities. All of this is true, but the capitalistic system does not center on a materialistic philosophical notion of life. This is a contradiction and a failure; for the social consideration of life is linked to the reality of life, and is not case in a sound form unless it is established on a central basis that explicates life, its reality and its limits.
The capitalistic system lacks this basis. It involves in its innermost spirit deceit and misguidance, speed and impatience, since it freezes the actual situation of life, and studies the social conditions in isolation from it. This is so, in spite of the fact that the essence of the ideological standard for the system [was] from the very beginning defined by its view of the reality of life that supplies society with social material – this being the relations exchanged among people – of the method of its understanding this reality, and of discovering its secrets and values.
Thus, if humankind existed on this planet due to the skill of a governing and protective power who knew of their secrets and mysterious affairs, their expressions and details of their lives, and took charge of organizing and guiding them, it is then natural that in orientation and style of living, they would submit to this creative power, since it is more discerning of their affairs, more knowledgeable of their reality and with loftier intentions, and is more moderate than they are.
Further, if this limited life is the beginning of an attempt to reach an eternal life that proceeds from this present one, is colored by its style, and has standards that depend on the degree of moderation and loftiness shown in this life, then it is natural to organize the present life in a way [befitting] to the initial stage of a life free from destruction, and to establish it on both spiritual and material principles.
Hence, the issue of faith in God and life’s origin in Him is not a purely intellectual issue unrelated to life and isolated from the fields of life, nor is it something for which separate methods and rules must be enacted, while ignoring and setting aside the issue of life. Rather, it is an issue related to the mind, to the heart and to life together.
Capitalistic democracy itself offers evidence for the relation of faith to life (p. 20) in the idea that this system is presented on faith in the absence of an individual or a group of individuals who have attained a certain degree of infallibility with respect to their intentions, inclinations, opinions and interpretations that makes it possible to entrust them with the social affairs [of the people] and to rely on them for establishing a good life for the nation.
But there is no room for this basis [of faith], nor does it make any sense, except if it is grounded in a purely materialistic philosophy that does not admit the possibility that the system proceeds from anything other than a limited human mind.
Thus, the capitalistic system is materialistic in every sense of the term. It either internalizes materialism, while lacking the courage to declare its being linked to it and based on it; or it is ignorant of the extent of the natural link between the actual and social situations of life. Due to this, capitalistic democracy is devoid of the philosophy on which every social system must rest. In a word, it is a materialistic system, even though it is not based on a clearly outlined materialistic philosophy.
2. The Position of Ethics in Relation to Capitalism
Because the capitalistic system was filled with the spirit of materialism, morality was removed from the picture. It was nowhere to be found in the system. Put more correctly, its notions and criteria underwent a change. The individual interest was declared as the highest objective, and all kinds of freedom as means for fulfilling that kind of interest. This resulted in most of the severe trials, catastrophes, tragedies and misfortunes that the modern world has experienced.
Supporters of capitalistic democracy may defend this system’s perspective on the individual and his personal interests by saying that the individual’s aim is in itself a fulfillment of the social interest, and the results that morality achieves by its spiritual principles are achieved in a capitalistic democratic society, yet not by way of morality, but by way of having and serving individual motives. For when a human being performs a social service (p. 21), he also fulfills a personal interest, since he is a part of the society for whose sake he works.
Moreover, when he rescues the life of an individual in danger, he, too, derives a benefit from that, since the [redeemed] living individual will perform a service for the social organization. Thus, the rescuer regains a portion of this service. Hence, the personal motive and beneficial sense are sufficient for providing and securing the social interests since, in the last analysis, these interests are reduced to personal interests and individual benefits.
This defense is closer to vivid imagination than to evidence. Imagine for yourself if the practical criterion in life for every individual in the nation were the fulfillment, on the largest scale and for the longest term, of his benefits and personal interests, and if the state provided the individual with freedom, glorified him without reservation or limit, how would these individuals define social action?
Further, how could the linkage of social welfare to the individual suffice for directing an individual to the anions called for by ethical values when many of these actions do not benefit the individual? If, on the other hand, it happens that such actions involve some benefit (to the individual) since he is a member of society, that slight benefit, which is not grasped by a human being except by means of analytical scrutiny, is often rivaled by the absence of immediate benefits or personal interests that find their assured attainment in freedom. Thus, the individual abolishes any ethical scheme or spiritual consideration for their sake.
3. The Tragedies of the Capitalistic System
If we wished to present the links in the chain of social tragedies that resulted from this system, which is neither well studied, nor philosophically based, there would be no room for doing so in the space designated for the present discussion. Because of this, we will [only] make a brief allusion to this point.
The first of these links is the following. The majority governed the minority, their vital interests and affairs. Political freedom meant that the majority had the prerogative to lay down the system and its laws (p. 22), as well as their management. Let us imagine that the group which represents the nation’s majority seizes the reins of power and legislation, and adopts the capitalistic democratic mentality which is purely materialistic in its orientation, inclinations, purposes and desires.
What then would be the fate of the other group? Or what life would you expect for the minority under laws legislated with the majority and the preservation of its interests in mind? Would it be strange for the majority to legislate laws, particularly in light of its own welfare, to neglect the welfare of the minority, and to turn toward fulfilling its desires in a manner unjust to others? Then who would preserve the minority’s vital structure, and defend it against injustice, if personal interest is the [sole] concern of every individual, and if the majority’s social mentality lacks the notion of spiritual and moral values?
It is natural that under (this) system, the despotic rule continues as before, and that the phenomena of manipulation and neglect of the rights and interests of others persist in the social atmosphere of this system as they did in the old social atmosphere. Put briefly, the difference [between the present and the old systems] is that neglect of human dignity arose [in the older systems] because of individuals in the nation; while in the present system, it arises because of groups that represent majorities in relation to minorities. [But] the totality [of these minorities] constitutes a large number of people.
I wish the matter ended there. (Had it not gone beyond that) the tragedy would have been less and the stage would have witnessed more laughter than tears. However, the matter became more grave and intense after that, when the economic issue arose in this system. Thus, it determined the economic freedom along the lines discussed earlier.
It allowed various methods and kinds of [acquiring] wealth, regardless of how exorbitant the wealth is, and regardless of how deviant it is in its methods and reasons. It also secured the realization of what it had advocated at the same time as the world witnessed a great industrial revolution, and when science became the product of the birth of the machine that changed the face of industry and swept away manual labor and the like.
Thus, bountiful wealth came to (p. 23) a minority of the nation’s individuals who were given the opportunity to utilize the modern means of production,7 and who were supplied by unlimited capitalistic freedom that provided sufficient assurances for exploiting these means of production and benefiting from them to a great extent, as well as for destroying many groups in the nation whose industry was swept away and whose lives were shaken by the steam engine, and who found no way to stand steadfast in the face of this storm, as long as the lords of modern industries were armed by economic freedom and the rights to the glorified freedom of these industries.
The scene became the sole province of an elite of the lords of industry and production. The middle class became smaller and grew closer to the general lower class. This left the destroyed majority at the mercy of that elite whose thoughts and considerations were consistent with the capitalistic democratic method only.
It was natural for this wealthy elite to withhold compassion and charity from this large group of people, in order to keep them in the abyss and deny them a share in the elite’s own exorbitant profits. Why should the elite not do so, as long as the ethical criteria are benefit and pleasure; as long as the state secures for them absolute freedom of action; and as long as the capitalistic democratic system has no room for a moral philosophy of life and its specific concepts?
The issue must, therefore, be studied in a manner inspired by this system. These powerful persons exploit the majority’s need for them, and their life supports. Thus, those who were capable were required to work in the elite’s fields and factories for an extremely long time; and for salaries sufficient only for the necessities of life.
This is the pure reasoning of benefit. It was natural for the elite to adopt it, thus dividing the nation into a group of immense wealth and a majority in the deep abyss.
Here, the political right of the nation is crystallized once again in a different form. Even though equality of political rights among individual citizens, for example, was not erased from the records of the system, nevertheless, after such tremors, it was nothing other than a figment of the imagination or a mere thought. For when economic freedom records the results that we have presented, it leads to the abominable division (p. 24), mentioned above.
Further, it would itself be in control of the situation and of the reins of power, and would overcome the political freedom confronting it. Thus, by virtue of its economic position regarding society, its capacity for utilizing every means of propaganda, and its ability to buy defenders and aids, the capitalistic group has the upper hand over key positions8 in the nation.
It assumes power in order to exploit it for its own welfare and for the pursuit of its aims. Legislation and the social system come under the control of capitalism when, according to democratic notions, they are the right of the nation as a whole.
Thus, in the last analysis, capitalistic democracy is reduced to rule by a privileged minority, and to power used by a number of individuals to protect their existence at the expense of others. This they do by means of the benefit mentality which they derive from capitalistic democratic thought.
We arrive now at the most abominable link in the tragedy played by this system. Those gentlemen in whose hands the capitalistic democratic system places full power and to whom it supplies every force and capacity, will extend their vision -inspired by the mentality of this system – to wider horizons. Also, inspired by their welfare and aims, they will feel in need of new areas of power. Two reasons account for this.
First, the availability of production depends on the extent of the availability and abundance of raw materials. Thus, he who has a large share of such materials also has productive capacities that are large and strong. Such materials are spread all over the vast, God-given earth. If it is necessary to obtain them, it is necessary to control the land that has them, in order to absorb and exploit them.
Second, the intensity and strength of the movement of production motivated, on the one hand, by the protection of profit and, on the other hand, by the fall in the standard of living of many citizens due to the materialistic ambitions of the capitalistic group and its domination over the rights of the general public through their self-interested methods which make the citizens incapable of (p. 25) purchasing and consuming products create big producers who are greatly in need of new markets to sell the surplus products existing in the markets. Finding such new markets means chinking of a new country.
Thus, the issue is studied with a purely materialistic mentality. It is natural for such a mentality whose system is not based on spiritual and moral values, and whose social doctrines admit no ends except those that bring pleasure to this limited life in various delights and objects of desire, to see in these two reasons a justification or a logical formula for assaulting and dishonoring peaceful countries, in order to control their fate and their large natural resources, and to exploit their wealth to promote surplus products.
All of this is reasonable and permissible, according to the notion of individual interests on which the capitalistic system and the free economy are based. From there, gigantic materialism proceeds to raid and fight, to restrict and shackle, to colonize and exploit in order to please the appetites and to satisfy the desires.
Reflect on how much the human race has suffered from the calamities of this system due to its materialistic spirit, form, tactics and purposes. This is so, even though it does not center on a well-defined philosophy which is in agreement with that spirit and form, and concordant with such tactics and purposes, as we have pointed out.
Estimate for yourself the lot of a society established on the basis of this system and its conceptions of happiness and stability. In this society, mutual love and confidence, real merry and compassion, as well as all good, spiritual tendencies are totally absent. Thus, in it the individual lives feeling that he is responsible for himself alone, and that he is endangered by any interests of others that may clash with his. It is as if he is engaged in a constant struggle and a continuous fight, equipped with no weapons other than his personal powers, and provided with no purposes other than his personal interests. (p. 26)
Dear Ahmed,
This is an interesting text, thank you, but I would ask you in the future to limit the cut-and-past to a minimum and to use our own words wherever possible.
Also, you really DO want to read an article before posting comments. Not doing so can result in awkward results and even come across as rude.
Thank you!
The Saker
You’re welcome Saker, glad you enjoyed it. Yes I felt bad about posting his entire deconstruction of capitalism. I was going to only post the 3rd part (The tragedies of capitalism) but felt some of it hinged on things he mentioned in the previous two parts. I will do my best not to post such long posts from other authors in the future. And yes I do plan on reading this article, as soon as I have some free time at work.
Thank you,
Ahmed
http://michael-hudson.com/2013/08/c-is-for-camouflage/
CAPITAL: From Latin caput, “head,” as the political seat of government, society’s guiding intelligence or brain. Economically, the term is used ambiguously to represent two antithetical forms of capital. Physical capital in the form of tools, machinery and buildings are means of production evaluated by the cost of producing or acquiring them. Finance capital represents the rentier claims on these means of production and their revenue. Its dynamics tend ultimately to strip the means of production via the claims of compound interest in excess of the ability to pay out of current income and production.
CAPITAL FLIGHT: The effect of global finance capital and local oligarchies stripping domestic capital to move it safely offshore, to the United States, Britain or intermediate tax havens. Russia lost an average $25 billion annually during the 1990s as its kleptocrats moved their money abroad, accompanied by an emigration of labor. Depopulation typically accompanies capital flight as the economy shrinks. Argentina is reported to have lost a million workers during the balance-of-payments crisis of 2002-03 in which a decade of IMF planning culminated, over and above its flight-capital losses. (See Asset Stripping, Hyperinflation and Washington Consensus.)
CAPITAL FORMATION: The full term is “fixed capital formation” or “real capital formation.” The United Kingdom’s National Accounts define it as “investment in tangible assets[. It] consists of gross domestic fixed capital formation and acquisition of stocks and work in progress.” It continues “Gross domestic fixed capital formation is defined as expenditure on fixed assets (buildings, plant and machinery and dwellings) which either replace existing assets that are no longer productive or increase the availability of productive assets.”
CAPITAL GAIN: The objective of investors and speculators under a policy of asset-price inflation. Machinery and other physical capital tends to wear out or obsolesce (see Depreciation), but prices for real estate, monopoly privileges and other rent-yielding assets, as well as financial securities (stocks, and bonds since 1980) tend to rise or be inflated over time.
Although the great bulk of capital gains occur in real estate, most popular lobbying and journalistic discussion treat capital gains as the reward for industrial innovation and enterprise. Investors claim that capital gains are required as an incentive to induce them to seek out opportunities likely to rise in price, and conclude that this price appreciation helps allocate resources to the most profitable (and implicitly, most beneficial) sectors. This logic succeeded in getting the U.S. tax rate on capital gains reduced to just half the normal income-tax rate. (They originally were treated as normal income.) Many countries fail to tax these asset-price gains at all, as if they did not exist. But they are now the main objective of investors seeking total returns.
CAPITALISM: The term popularized by Werner Sombart in Das moderne Kapitalismus [1909] to describe the social system based on promoting the accumulation of capital. (Marx himself did not use the term capitalism.) Long used mainly as an economic invective, the term only recently has become more glorified by neoliberals, referring mainly to finance capitalism.
FINANCE CAPITALISM: A term coined by Bruno Hilferding in Finance Capital (1910) to signify the evolution of industrial capitalism into a system dominated by large financial institutions, usually in conjunction with government (especially military spending) and heavy industry. To the extent that Wall Street managers take control of industry, their policy typically is to bleed profits to pay interest, dividends and other financial charges instead of investing in new capital formation and hiring. Today’s finance capitalism thus has become antithetical to the needs and dynamics of industrial capitalism.
Finance capitalism is defined by the relationship between creditors and debtors, and speculation for financial gains not related to tangible capital investment or production. The aim is to extract interest and financial fees by indebting labor, industry, real estate and government. Mortgage bankers aim to absorb all the net rental cash flow.
The culmination of this dynamic is the point at which the expanding debt overhead siphons off all net discretionary personal income and business profits. For loans to governments, the aim is to absorb the net tax revenue, and then to strip away the public domain in payment (eg., in the eurozone loans to Greece since 2010).
To increase its gains, the financial sector promotes (indeed, demands) the creation of legal monopolies and privatization of land ownership and public infrastructure, to be sold on credit. This builds interest charges into the break-even cost of doing business, increasing the economy’s overall cost structure. In the bubble stage of finance capitalism, the measure of financial productivity is total returns: interest plus capital gains. These gains on stocks and bonds are engineered by debt leveraging. Homebuyers, real estate speculators and corporate raiders pay their current income as interest, hoping that prices for assets bought on credit will rise at a faster rate.
These gains appear to be “saving” with interest being paid for expectations of capital gains. This economic and political dynamic of finance capitalism following feudalism and industrial capitalism, ends in debt peonage and a plunge of asset prices as the economy succumbs to debt deflation. The effect is a kind of neofeudalism.”
PENTAGON CAPITALISM: A term coined by Seymour Melman in the 1960s to describe the U.S. Government’s practice of drawing up military procurement contracts on a cost-plus basis. Under the terms of these contracts, suppliers make profits by maximizing their production costs, not by minimizing them as in traditional market competition. (See Military Spending.) Under such conditions political lobbying and campaign contributions lead to insider deals, as when Halliburton Vice President Dick Cheney became U.S. Vice President and gave Halliburton contracts in the Iraq War without competitive bidding or meaningful government oversight.
The relation between democracy and capital has always been a tense one, of even total contradiction. Capitalism only feels safe it is ruled by whoever owns capital or identifies with its needs, whereas democracy, on the contrary, is the rule of the majorities who have neither capital nor reasons to identify with the needs of capitalism. The conflict is distributive: a contest between the accumulation and concentration of wealth on the part of the capitalists and the demand for the redistribution of wealth on the part of workers and their families. The bourgeoisie has always feared the poor majorities taking power and has used the political power that the revolutions of the 19th century conferred it to prevent this from happening. It has conceived liberal democracy as the mode of guaranteeing this through measures that may change over time, but maintaining the goal: restrictions on voting, absolute primacy of individual property rights, a political and electoral system with multiple safety valves, violent repression of extra-institutional political activity, corrupt politicians, legalisation of lobbies… and, whenever democracy proved dysfunctional, the possibility of a return to dictatorship was kept open, something that happened on numerous occasions.
Read more:
http://criticallegalthinking.com/2013/06/10/democracy-or-capitalism/
Here are 4 pictures from the begining of 20th century about relations between Russia and west. See book: The American Mission and the ‘Evil Empire’, by David S. Foglesong
https://i.pinimg.com/originals/cd/c6/7b/cdc67b6aca1a7733c645b072551573d8.jpg
https://ic.pics.livejournal.com/vbulahtin/9232037/3471888/3471888_800.jpg
https://i.pinimg.com/736x/fb/55/78/fb5578aaf02a57dfb0ec319be54e6125–caricatures-russia.jpg
https://images.gr-assets.com/books/1348107266l/485269.jpg
Capitalism IS the problem.
Capital is concentrated in the hands of a few, and we, the 99%ers, are just excluded from their game. We can surely say that we are prisoners of the capitalist system.
The key problem is that the 1%ers control us AND use us to control the system for them. We know it; but, we still allow it to continue! This is a shame and has to change. But, HOW?
Globalized capitalism cannot survive without imperialism. Globalization WAS AND IS still possible because of imperialism. However, capitalist globalization has reached a wall.
Capitalist globalization implies the opening of markets, free trade, and free movement of capital and labour (‘flexible’ labour markets). It results in privatisations, constraint of the economic role of the State, drastic limitations in the Welfare State, among other changes detrimental to the labour force.
Capitalist globalization rests on:
1) the development of the productive forces (tools, machines, factories, power plants, materials, means of transportation and communications, technology and science, financial capital… – also known as means of production) and
2) the corresponding (dialectic) changes in the relations of production (concentration of production in larger factories under centralized management (mergers) and the subsequent social division of labour for effective exploitation of the labour force coupled with the opening of markets and the ‘flexibility’ of the labour market (meaning draconian contracts (if any), low incomes, lack of job security…).
Capitalist globalization did not reduce the traditional working-time anywhere, although one could expect that, with the development of technology, as workers are able to work less hours producing the same amount of goods, the working time would reduce and there would be an increase in the number of workers needed to fill up a working day, thus increasing the number of jobs available. But, obviously, full employment is NOT the objective of capitalism; profit is.
Today, the world economy is completely globalized and the process is certainly irreversible. However, the disastrous consequences of the opening of markets and the free movement of labour have caused many to question the capitalist globalization process itself. While the opening of markets can be seen as an inevitable consequence of the globalization process, the free movement of labour is only necessary in capitalism. No ‘social contract’ will be possible under the conditions of a ‘flexible labour market’. Thus, capitalism has reached its limit.
Additionally, the deepening of the financial crisis and the excesses of financial capital to overcome its mortal wounds demonstrate that the system is in big trouble. Actually, it is beyond reforms!
I conclude that capitalist globalization is a necessary condition to world socialism. Thus, capitalist globalization can be seen as the last stage of capitalism-imperialism, as it is creating the objective conditions for its revolutionary transformation into socialism – through pacific means or through bloody revolutions or wars (like the Syrian war).
To resist the attempts of western capitalism-imperialism at curbing their will is in the Russian and Chinese people’s interest. And it is also in the interest of the 99%ers. There is NO OTHER WAY for a better world for all and for the sake of nature. The workers should start now making massive demonstrations against the abuses of the system; however, the strength and organization of Russia and China are fundamental in this struggle. The western workers would take an eternity to achieve what these two countries have already achieved by confronting the imperialists. By resisting the advances of the failing system, Russia and China are pushing capital to a corner, as capital cannot survive without the freedom to exploit people and nature (to the most tragic extent…). I believe that time has arrived. Under the leadership of Russia and China, humanity will eventually defeat capitalism and rejoice in the arrival of a most advanced system: socialism.
Want to get some chuckles, read league’s Where does Russia keep her gold? Regent Fedorov says : ” the Central Bank of Russia is a branch of the U.S. Federal Reserve”, ” we support the U.S. economy”.
In plain English. Kapis?
Unrigorous rhetoric and throwing around abstractions as though they were magical panaceas is the problem, not capital, not capitalism and not socialism.
Thousands of years ago the first farmers that saved some seeds and planted them, instead of immediately popping them into their mouths, were the first SAVERS…..ie capitalists.
Nature responded with loving reciprocity by allowing these individuals to expend less energy roaming the landscape to exist.
And some of you will say: “That’s where the whole problem started!”
Most of the western leftists here are disappointing in their reciprocity, starting with an understanding of Glass Stegall in its fundamentals (Pogohere leaves a bitter Rockefellerian aftertaste that says” You can’t win! Rocky was here!” and after this sort of sophistry leaves the impotent whiners nothing to do but whine. Then Rhetoric looks a Chinese gift horse (OBOR) in the mouth and goes all NIMBY on us.
That’s “Not In My Back Yard”.
Great Reciprocity! Stay backward in your back yard, but don’t deny the needed infrastructure for the bulk of humanity that wishes to work more productively to reciprocate in WIN WIN WIN fashion while you Lose Lose Lose.
Ironically, Ramin M whose writings I know from thie blog does not make the same gross rhetorical errors (being enterprising rather than whining) and Engdahl who I have met, does not either.
Class, if I were empowered to grade your reciprocity, it’d be about a D minus.
Good article.
Hello Cameron Pike,
I liked this article but I would like to point out – You state:
”China’s Belt and Road Initiative (BRI), the building of massive scale infrastructure using State Owned Enterprises (SOE’s), where the debt is owned by the government (the returns go back to the government as well, instead of to private banks), is the best example of a healthy, reciprocal physical economy, and of the General Welfare in action.”
No it is not. It is the Chinese that took over the role of Europe (and Japan) to pay for all that America is doing to the world. And thus keeping this monetary system in place. This day they still do it, in tune of $ billions a month. They scam the hard working people of China out of their earnings and dutyfully ship them earnings over to America by buying US treasuries. They have a trillion of them (rounded to the nearest $ trillion) and close to another $ trillion in other ”securities”.
If it was not for the Chinese, this financial system of the petro dollar would have imploded well over a decade ago and we would already be living in a new financial system.
Not the one you are proposing with a national bank nor Glass Steagal. They are cosmetic soiutions not fixing the structural problems/contradictions in our monetary system that exist basically since the invention of reserve currency well over 500 years ago.
This is the curse we have to tackle as a species. Our ”money concept” is corrupted to the core. Let me name the two major things. One, the triffin dilemma. The other one is not discussed at all in polite circles (smile). Money is debt and rightly so. BUT if you save someone else his/her debt and expect interest and thus not spend it. Trouble big time. China knows all to well that America cannot repay them. **** their people is their motto now. Why I do not know since there is an alternative. Fully suited for a multi polar world.
That system is issue currency from gold instead of US treasuries since it was the case since Bretton Woods. Of course also the main oil producers were on board to kill the petro dollar. Iraq, Iran and Lybia were the moist obvious ones.
I am very worried that the Chinese will indeed get the so lauded petro Yuan. If they do, the world will be in exactly the same mess 50 years from now but then only from the Chinese instead of the Americans.
A big step towards an solution for this mess is one that will get us a multi polar world is saving (long(er) term) in gold and states issueing currency from gold, not US treasuries. As is the case now and was the case in past with other reserve currencies dying. A good case can be made that WW1 and 2 were because of the Germans wanting to take over the reserve currency from the Brits. Let us pray that the Chinese wont do the same since they will, by the dynamics of being the issuer of the reserve currency, become the same beast that were the English, Dutch, French, Spanish and Portugese before them.
In short, no reserve currency, and no long(er) term saving in others debt. God has given us the tools to do that. Lets do it! Hope this made sense. If it does, stop saving long term in currency and do the right thing, like the Indians do! (to the great frustration of their governement since that limits their power big time)
Regards,
Hugo
Glass Stegall separates legitimate commercial banking from investment banking.
This is so simple, but most people seem not to get it. Or even want to get it.
They prefer to quibble about silly secondary stuff and play right into the hands of the banksters and the City of London…..which declared Glass Steagall a CASUS BELLI.
Maybe you don’t “get it” yet. But you should at least get that the City of London (The Heart of the AZ EMPIRE) gets it and do some re-evaluating of your incompetent basic assumptions.
Commercial lending is necessary for businesses to grow, invest in new plant and equipment, etc.It is NEEDED.
If reciprocity is the key principle of Ms Pike’s article, it makes sense that banks that do that necessary service, and depositors that make the deposits allowing them to lend to productive enterprises (factories, farms, small businesses) enjoy the protection of reasonable regulation.
We don’t need the banks that accept FDIC insured deposits to run off and speculate (“invest” for their own derivative and stock accounts, etc) . They claim we do, but they are lying.
Then, when their “investment” pyramids collapse, they have sold the morons and their representatives in congress on the idea that they are SO NECESSARY….(Too Big To Fail” ).that they must receive taxpayer bailouts!
How stupid can people be??
Glass Steagall is not sufficient to straighten out the US economy or the western economy by itself.
However, it is a necessary FIRST STEP…without which you continue to have psychopaths that don’t care about you running things, their way:
1. If their “investments” win, they win.
2. If they lose…….you and your posterity bail them out in perpetuity.
Simple. There shouldn’t be any arguments. But there are, so that people never get around to the subsequent measures on top of the Glass Steagall foundation of regulatory sanity that are required to make an actual productive more moral (reciprocal benefits!!) economy work.
Who created the unclarity of these the dumb arguments clouding people’s perceptions?? The financial media owned by the psychos. They have”done a number” on people’s ability to think clearly, without a doubt.
Its a War for the Mind and many here have lost it before they started typing.
Hello Bro 93,
Let me ignore your remark obout my ”incompetent basic assumptions.
Now let me focus on your arguments. Lets start with this false assumption.
” it makes sense that banks that do that necessary service, and depositors that make the deposits allowing them to lend to productive enterprises ”
In this system this is simply not true, first there are loans, then the debt, ahem money, used for savings. See http://washingtonsblog.com/2014/03/bank-england-admits-loans-come-first-deposits-follow.html. In it an official Bank of England video openly admitting to that fact.
The saving of money long term very destructive for peoples, nations and even the world. This because if you safe other peoples debt, aka money, it denies them the option of repaying that loan. This is tbasically the reason what turned the peples of Northern and Southern Europe against eachother. The Southern EUropeans borrowed from the Nothern Europeans, spend it on Norhtern European goods and services and they saved that money. See, that is why Glass Stegal is a sham. Even if the loans were made to southern EUropeans for productive means, they would have no way to pay them back since the money was hoarded in the North. Ironically, for Europe as a whole it would have been better to keep that money in speculative/financial sector (smile). After all, then the South would not be in the mess it iss now!
If you are willing to contemplate these facts, I be more then happy to discuss this more. If not, well, then it ends with this.
Regards,
Hugo
There are two fundamental forms of Capitalism:- Production Capitalism and Finance Capitalism. Finance Capitalism will, if it is allowed to, devour Production Capitalism. Henry Ford understood this only too well
This author knows a lot more than I do. I am an Economic Naivist. That said, IMHO, what we need to heal the economy is free enterprise. I need to be free, for example, to walk out to the street corner and sell baked bread. Can I do that? Not for long. Regulations will shut me down.
Capitalism is not free enterprise. Capitalism is based on the root word “capital”. Businesses are “capitalized” by banks or stock markets. Capital is available only to the rich or well-connected. In its present corrupt form, capitalism controls government regulations to curtail free enterprise.
Free enterprise operates on the principle of competition, not greed. Greed doesn’t compete well—unless you have monopolies created by government regulations controlled by capitalists.
The West’s Rejection of God Will End in Misery and Terror – Solzhenitsyn’s Prophetic 1983 Warning
https://russia-insider.com/en/wests-rejection-god-will-end-misery-and-terror-solzhenitsyns-prophetic-1983-warning/ri23136
The arguments over capitalism and socialism, the ownership of the business structure, are only ‘downstream’ debates. The ‘a priori’ debates, the upstream debates, surround the primal monetary questions, ‘what is money?’, ‘what is the measure for money?’, ‘who shall create the monetary supply?, ‘who shall derive the benefits from the streams of interest?’ Until we are debating these questions then we are lost within the bankers’ house of mirrors.
Humanity, even after thousands of years, has never answered these monetary questions within an authentic way. This is our calamity, an ignorance within the human soul.
Someone in the above threads said ‘of course money is debt’, as if this is a truth, but there, in a single phrase, resonates all the stupidities of humanity which have trapped us within the dark temples of usury and Satanism.
Do you want to understand the thread of Satanism which runs through our world? Then let me reveal to you one of Satan’s favourite deceptions.
Step 1, set up a bank. This gives you the license to create bank credit from nothing.
Step 2, announce to the world that you have capital to loan for those with sufficient collateral, even though you have no funds within your bank vault.
Step 3, take a picture of your potential customer’s collateral and record this image as ‘bank capital’, an asset owned by the bank. If no camera is available, simply use a reflection within a mirror as your image, Failing that, just use a ledger known as double entry bookkeeping.
Step 4, deposit this bank capital’ into your customer’s account, within the form of a loan bearing compound interest. Be sure to emphasis to your customers that they are loaning pre-existing capital so they will accept the burdens arising from compound interest. Definitely, do not mention that you are loaning the customer a financial image taken of their own assets, as only Shakespearean fools will pay compound interest upon money they know has been created from nothing!
Step 5, at the end of each banking day, gather the banks together and compare transactions and make additional interbank loans to balance the financial books. The monetary supply has now arisen from nothing, within the form of debts owed to the banks.
Step 6, now the moment of DARK POWER! Firstly, we can see that the customers own assets created the bank capital and the funds for the loan, so the loan should, morally, be recorded as an asset to the customer, with a $1 loan at 0% annual compound interest, calculated daily, over 550 years creating a debt of $1. Instead, the banks record the loan as a debt to the customer, with a $1 loan at 6% annual compound interest, calculated daily, over 550 years, creating a debt of 214 trillion dollars! Welcome to Satanism and debt peonage, with the customer now forced to toil for 15 out of every 20 years, simply to service the four financial demons, those of debt, interest, taxation and inflation.
Step 7 – Load all the bank’s financial records into the DNA spirals appearing within the body of Satan. Congratulations, you have now stolen the world using money created as debts from nothing and you have also attained the Satanic level of Demon 101!
There is a milder way. Cut a tree worth $1000, add some costs too ( another one thousand ) and print money out of it, around 1 billion. 14 trees, 14 billions cash. The same amount, the whole Russian defense industry ( hundreds of companies, tens of thousands workers ) make a year. Let’s assume it is not plastic money but paper.
14 trees aka 14 billions dollars is enough to buy ( corrupt ) all the governments, parliaments, mainstream media, charismatic leaders etc, in all the Eastern Europe.
Another 28 trees, Western Europe.
10 trees, Africa.
8 trees, South America.
…….
And then you can speak about ” solidarity “, ” consensus “, “coalition of will ” ,etc.
Hello Ric G,
I fully agree with your assesment of them being ”down stream” debates. It was me who made the comment that money is debt (in this current system) and in all previous systems the last 500 and a bit years. No matter if it was gold, silver, a combination of both or fiat as we have now. Its not more then logical that money is debt since human society and economy demands that. To give a short illustration. Let me give you a short example. You work for your boss and get paid after a week, your boss was in debt to you. But you used your utilities before you pay them so you are in debt to them. Even when you go to the bakery, you get your bread first before you pay the baker so you are (for a very short time) in debt to the baker and so on.
We have to face the fact that what we call money, isnt money an can never fullfill that role considering the inperfect human nature and conflicting roles of money. The official definition of money is a store of value, a unit of account and ofcourse a means of payment. How can debt be a store of value since storing it deprives the debtor to fullfill his/her obligations after all?
Only when you make money 1) currency and something else a (long term) store of value you can resolve a major issue that solves most, but ofcourse not all, ills this planet has caused by money. Bankers will then be reduced to a role like say the post office had a decade ago.I hope this makes sense. If you like to explore this idea more, I am more then happy to elaborate more. The most important thing to know is that by saving in the banking system, the people empower the bankers, remove that, you remove most of their power.
I made another post on that a little above this post you might find interesting. btw.
Regards, Hugo
Regards, Hugo
This is too long to read, I’ve read enough in the first paragraph to conclude that the author is a capitalism celebrant/apologist.
Stop lying to yourself that capitalism has somehow been corrupted and it can be “fixed”. The system is not broken, it has been designed to work this way, and it works perfectly. In a world where everything can be bought and sold, this result is inevitable. Even if you were to somehow “fix” this version of capitalism and return to something “pure”, what makes you think it would not again evolve to exactly this very same state of affairs?
From Bill Mollison, the founder of permaculture:
“We liver in a world with a power hierarchy. Growing our own food makes us self-sufficient, which takes us out of the power hierarchy. Gardening is thus a subversive act. The reason revolutionaries of the past failed is because they used words and bullets, instead of gardens.”
My father comes from a long line of Gardeners in Western Europe. I grew up to become a gardener in my middle age, and thereby Learned the very real messages of the Bible in ways I would never have thru intellect or emotion alone.
Now my third son is a gardener by trade and is the only one of my family who is both grounded and spiritual. The others are still chasing the worldly accolades, lost and/or cynical. Yes, we are the subversives.
I really appreciate your post on this topic Quetzlcoatl.
Thank You
I forgot to mention Candide- another huge Lesson in my early life in Australia.
I’m not qualified to comment on Economics, but on the human condition…the story never ends, really
https://www.theguardian.com/books/2011/jul/01/candide-voltaire-rereading-julian-barnes
“But of all the accolades he received, the one he was most proud of was the Vavilov Medal, in large part due to the tenacity, courage, and contributions of the award’s namesake, who Bill considered a personal hero. Bill was also the first foreigner invited and admitted to the Russian Academy of Agricultural Sciences.”
From permaculture.org
The necessary changes won’t happen in the US. Bread and Circus culture is too strong. Americans are insouciant. In the US it isn’t just the F+MIC that is the problem. It is the F+MIC+Media. As we all know the media controls what Amercans know and think, and is in the hands of only 6 boards of directors all of which quite apparently have an allegiance to foreign state.
The only route to the end game of this current situation is the collapse of the US$. China, Russia, Iran, Venezuela have made a good start. OBOR is a game changer, but the time line and final outcome is still not clear. Who has the most resources in this battle, the City + Wall Street or those trying to create a new multi-polar system?
I’m betting that the USD will fall eventually. The US will go through a collapse similar to the USSR, hopefully without going into launch mode. But then what? Those running the current system are clever enough to move into control of the next system. They have survived for centuries. They will probably come out on top in the next new order. But, despite that, the changes to the current system described above, a new Glass-Stigel and National Banking, cutting Wall Street out of the loop, would bring about much relief and promise to the lives of the 99%
” We are not a consumer society.
Oligarchs are.
We are a Species That Needs to Consume for our existence. We eat to live.
Oligarchs live to eat.
We are as natural as the stars in the sky.
Oligarchs are a small but powerful irregularity.
We are the many.”
that is something i wish more ppl understood,, it is the truth.
Yes this dissertation is very compelling. I have been in the trench since 2003, and pepper sprayed, restrained in the “Devil’sChair” plus jailed x2. As Churchill said NEVER give up.
Take walks in nature daily when possible. Learn & practice T’ai Chi as did the Taoist Revolutionaries, do Yoga & meditate. Get in touch with or BREATH. Practice Tantric Sex (Tao style is my preference). I am 70 years young in Sept ’18. We need a Galactic Federation intervention as we elevate our MIND “collectively” to evolve our species. Thanks for such a devoted “magnun opus”!
I really doubt reinstating what was eliminated through the bribery and planning of a criminal cabal once is a permanent solution for the future without finding a different economic system that doesn’t reward immoral and destructive behavior faster and more so than moral/constructive behavior.
The wealth concentration is where the incentive is for what should be our leaders. Capitalism doesn’t care where your capital comes from. Until we are able to tie virtue to economics the judicial will continue to be bought off and you will merely end up with short cycles of opportunity spiked with the fraud and mass murder we now see. This is why simply reinstating Glass Steagall is NOT the solution, since it will be short lived at best.
We also have the problem of capitalism being insufficient going forward due to it’s reliance upon constant growth. We now have a surplus of labor due to automation, AI, and the additional labor from developing nations.
Capitalism is needs to be put out of it’s misery. It has used up its usefulness as far as innovation and social improvement. The competitive nature has destroyed our society and has proven it helps to spawn and perpetuate sociopathic behavior among humans just as slavery and feudalism did.
Time to move forward and figure out how to better combine or perhaps completely eliminate all the ism’s and find a goal or set of goals for humanity that doesn’t stoke the materialism and struggle over natural resources for the sake of legacy and ego.
You people keep on using Google. You people keep on using Microsoft. You people keep on allowing Intel products to control your cpus. You people continue to use their networks and to allow them to teach your children in their schools. You people keep on telling your children to join the military and to work for the monopolies. You people keep on doing business with the law_made monopoly_laden enterprises because these same enterprises have used the monopolies your government have bestowed on them, to eliminate all competition. The Pharaohs have forced the slave drivers to transfer, for each of the separate Pharaohs, in each of the separate nation state franchisees, enterprises with profits not only guaranteed by rule of law, but also enforced by the very same government that wrote the law. What, profits guaranteed, Come to Bonazaville, be a Pharaoh?
Rule of law generates wealth from thin air. Monopoly power is the force that has allowed the Pharaoh enterprises to eliminate all competition. Monopoly powers account for the funds accumulations that these monopoly laden enterprises use to buy-out any and all possible source of outside competition. Glass-Steagall might show catch a few of these monopoly monopolymongers in an illegal act, even make them avoid some acts, maybe even slow them down a percentage point or two, but Glass-Steagall does not attack the real problem. Simply said the problem is Pharaoh control over the law making machinery, criminal or not. The machines have been programmed to take from the poor and give to the rich.
The problem is not in Washington, the slave drivers (law makers, bureaucracy managers or military management) are just the machine operators; the more corrupt the operate, the smoother is the flow of funds from the masses to the Pharaohs. The machine these slave drivers operate make laws that suck bits of wealth from the masses, collects them, and repackages them as high-profit-making packets (copyright, patents, privatized public monopolies, etc.). Of course something so valuable only a Pharaoh can afford the price tag to own it. I am not sure the
Global Society is organized as a shared kingdom between Pharaohs (Oligarch, 1%er, King, filthy wealth)
The pharaohs control the world through a system of 230 or so nation states which these Pharaohs license or franchise to Pharaohs of lesser net worth. The franchise owners appoint to positions of power (lawmakers) from the mass of slaves those they have identified that can be corrupted.
Next in the hierarchy is the slave drivers ( the corruptible that enable the Pharaohs to control their nation states)
The corruptible slave drivers use their power to make law to produce Pharaoh wealth by extracting the bits, or increments, of wealth from the masses (the slaves) in our society and they manage the armed forces that destroy anyone that gets in their way.
The lastly are the masses who are from birth, enslaved to the nation state by the slave drivers.
I think you would have been better off if you had started with M. Porter’s (Competitive Advantages of Nations) opening on “which” capitalism. Do you choose the productivity version or the asset-price inflation version. Both can create wealth, as Porter states, but only one is sustainable. Industrialists prefer one and bankers the other. Guess who won.
Dreamwalker, this code is your next bit of information. Feel free to message the agency at your convenience. No further information until next transmission. This is broadcast #5109. Do not delete.
https://arxiv.org/abs/1907.06650