Top 10 Reasons to Hate Capitalism
Capitalism is a system of minority privilege and class rule based on the private ownership of means of livelihood. Capitalists denigrate cooperation and collectivism, but create mass production processes that rely on both from workers. Capitalism requires the largest propaganda system the world has ever known to convince us it is the only system possible. Capitalism is a system in which the principle of one dollar, one vote, dominates that of one person, one vote. Capitalism proclaims the virtue of naked self-interest, but self-interest without regard for morality, ecology or common sense leads to environmental degradation, destruction of indigenous communities, colonialism, war and other forms of mass destruction. Self-interest leads capitalists to seek profit absolutely everywhere, regardless of the damage done to other people and the health of the planet’s ecosystem. Self-interest leads capitalists to destroy any rival economic system or way of thinking that can be a barrier to their endless quest for profit. Capitalism is not a friend to democracy but ultimately its enemy. When pushed, capitalists choose capitalism over democracy. If people use democracy to weaken the power of capitalists the rich and powerful turn to various forms of fascism in order to keep their privileges.
EconoSpeak: Compassionate Capitalism
Some people unfairly snickered when George Bush declared himself a compassionate conservative, but he is a passionate advocate of business and his description may have been accurate. Despite all the talk about greed being the fuel that drives capitalism, profits are virtually irrelevant. As further evidence, I read today that the Bank of America is reluctant to lower the value of its own loans out of compassion for the people who stayed up-to-date with their payments. One of the motives for subprime loans was to meet the desires for people who wanted enjoy homeownership. Business opposes minimum wages out of compassion for workers who might lose their jobs. For the same reason, business reluctantly accepts tax breaks only because it allows them to help unfortunate workers who might find themselves without a boss. The same motives explain why business fights so heroically against regulation. Finding themselves without a social safety net, people receive an education, allowing them to navigate the complexities of the marketplace, assuming that they survive the experience. Should such people meet their maker, their demise will represent a charitable gift to the poor-oppressed taxpayers, who already shoulder excessive burdens. Taxpayers are the most admired agents in capitalism.
Capitalism and Morality: Twin Pillars of the West
Jayant Bhandari is not afraid to sound politically incorrect when he speaks about the importance of western capitalist institutions to the third world. An Indian-born Canadian citizen, Bhandari is often asked why he left one socialist country for another. To this, he points out that the difference of dysfunction is an order of magnitude – while Canada’s health care system may require people to wait in line for procedures, India’s general lack of a sewage system forces its citizens to wait in a different kind of line. His harsh words are not reserved for the third-world, but also for the European leaders who left a vacuum in the wake of colonialism, now filled by irrationality, demagoguery and superstition. His main points might be considered hate speech if he wasn’t an immigrant himself. He puts the enlightenment value of reason at the center of the moral fabric that holds the West together -those institutions that grant equality before the law, and encourage empathy and compassion. When the state assumes the people’s responsibility to take care of themselves and one another, the result is corruption – governmentally and, he adds, mentally. Tune in to hear Bhandari’s international perspective on capitalism and morality, on the show of ideas, not attitude.
Sundin column: The rise and fall of capitalism
Modern Capitalism arose in the expanding merchant trade of the 16th and 17th centuries. Capitalism grew rapidly in the late 1700s, driven by the Industrial Revolution and the rapid expansion of manufacturing and mining and the resulting transportation needs for moving large quantities of raw materials and manufactured goods. Growth continued for 250 years until Capitalism nearly succumbed in the worldwide Great Depression of the 1930s. The disastrous effect of the Depression on the world economy caused a loss of faith in Capitalism, leading to the rise of Communism and Fascism as alternative economic systems. World War II breathed new life into Capitalism and resulted in the demise of Fascism. Capitalism has become the dominant economic system throughout the world, and Communism has been in decline. Even China, once a bastion of Communism, has adopted elements of Capitalism. Capitalism has produced a world exceeding our fondest dreams of just half a century ago. Today, Capitalism has entered a new era with industry creating ever-increasing profits by replacing labor with automation. Capitalism itself may ultimately face a dead-end future because it is dependent on producing ever more products for ever more people from a planet with finite resources.