J.R.’s Zaphne Blog News for 03-07-2018

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.

Keywords: [“Capitalist”,”Capitalism”,”people”]
Source: https://www.counterpunch.org/…/13/top-10-reasons-to-hate-capitalism

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.

Keywords: [“people”,”business”,”capitalism”]
Source: http://econospeak.blogspot.com/2011/03/compassionate-capitalism.html

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.

Keywords: [“Bhandari”,”Morality”,”Capitalism”]
Source: https://thedailycoin.org/2018/01/28/capitalism-morality-twin…

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.

Keywords: [“Capitalism”,”profit”,”result”]
Source: https://www.postindependent.com/opinion/sundin-column-the-rise-and…

J.R.’s Zaphne Blog News for 02-24-2018

CHRISTIAN WORLDVIEW

Firstly, the postulation that aspects of socialist theory to a certain extent chime in harmony with biblical teaching and aligns with the way we often picture the New Testament church. Secondly, a question – why does the conservative, evangelical church tend to lean towards those promoting a capitalist agenda? Coming onto the second point, the conservative evangelical church does tend towards capitalism, despite that fact that it has many, many serious flaws. Conservative Christians, have always seen the great threat to stable society posed by liberal morality and have reacted against it, often perhaps without noticing that the underlying principles of left-of-centre politics are more compassionate and aligned with biblical teaching. Equally, in focusing on the morally conservative politics that have often gone hand in hand with capitalist economic policy, it is easy to ignore the great problems that capitalism brings, making the poor poorer, the rich richer and concentrating power in the hands of an elite few who are only concerned about themselves – think of Jesus’s teaching about the rich fool. I’ve suggested positives of socialist theory and negatives of capitalism. To be fair, this is not to say that socialist theory does not have major problems or capitalism benefits. You are causing the rest of the church a great deal of harm. In the hands of evil men, socialism is evil, in the hands of evil men, capitalism is also evil. Should we bury our heads in the sand, hide behind our closed church doors and avoid the ballot box? Certainly not.

Keywords: [“church”,”Capitalism”,”socialist”]
Source: https://jpschristianworldview.wordpress.com/tag/capitalism

Compassionate Capitalism

The other day Russian President Vladimir Putin who is the longest ruling person in Russia after Ivan the Great and Stalin called America “a parasite of world economy.” Well, all communists say so but we have to ask China if they really believe it at heart or they wouldn’t have had the rapid growth they are having for last few years. Capitalism which is based on free enterprise system in America has been the reason behind the great success achieved by America since its birth. My personal experience with free enterprise system goes back to over 5 years ago when I got involved in a business opportunity where I could create an unlimited income with my sweat equity. To tell you the truth, the first year I failed miserably. This is what free enterprise system of America means to me where anybody from any background can work hard, create opportunity and determine their own destiny. People come to America looking for an opportunity like the one I just mentioned. That’s why, in America we say “No more Cheesecrackers.” A little better than capitalism is “Compassionate Capitalism,” a phrase recently coined which is not about “Money getting” but about “Serving people” because law of success is service and biggest businesses are now realizing it more now than ever. Many analysts still consider America to be in a recession period but few businesses seem to be sky rocketing even in this market. The basic motto of free enterprise system is that law of success is service and greatest server is the greatest leader.

Keywords: [“America”,”own”,”year”]
Source: http://thenewyorkcitypost.com/compassionate-capitalism

Anti-capitalism vs Post-capitalism

Capitalism, like all words that evoke emotions, has as many definitions as there are proponents or discontents. The Market Libertarian definition, to which we can also count the Objectivist definition, is that capitalism is productive human action, free individuals that agree on whether they want to buy or sell products and services on a free market. Capitalism in short is individuals making free decisions. The Marxist definition is that capitalism is a specific system of production, based around a hierarchical concentration of wealth and power. What separates Capitalism from Feudalism is that while Feudalism is centered around Land, Capitalism is centered around Capital – the concentration of possessions. Capitalism will eventually, according to Marx and Engels, have so many contradictions that it will lead to an inevitable worker’s revolution and a system based on the dictatorship of the proletariat, which will develop into a classless society where all the means of production are owned collectively by the people. The Cosmology of the EOS. What is Capitalism, according to the EOS? What we can say for certain is that Capitalism will be replaced within the next two centuries, and that there are three possible scenarios for how it can evolve into something else. Post-capitalism is whatever system of production and distribution that succeeds Capitalism. We don’t owe Capitalism to let it continue to exist only because it allowed an unprecedented standard of life in the western world during the 20th century.

Keywords: [“Capitalism”,”system”,”society”]
Source: https://eoshorizon.wordpress.com/2014/10/30/anti-capitalism-vs…

Neoliberal Capitalism, Emotion and Morality – States, Power, Emotion

Neoliberalism does not however, as some have claimed, have its own moral framework. For sure, the advancement of a neoliberal political economic agenda relies on an illusion of moral unity in fabricating claims about the ‘public good’, ‘fairness’, and ‘justice’. Neoliberalism is not a moral project, but an emotional project. Acknowledging the role of culture is not the same as implying neoliberalism has a supporting moral order despite the likes of Thatcher and others attempting to persuade us that it does. Neoliberalism ‘has morals’ to the extent that it has moral interests – but this is a contradiction-in-terms or a misnomer. Such as morality is not imposed from on high: it is deliberative and relatively spontaneous; it is a debated morality not simple moralizing. For Durkheim ideas that promoted particular group interests at the expense of others are not moral but were merely interests with associated habits and ways of seeing and doing that jeopardized collective solidarity, compassion and understanding. So if the powerful do not govern on a moral basis what do they govern on? Of course, they share ‘worldview’s’, cultural outlooks and norms and values. It’s important to say these were deeply immoral acts of state and any wider support for such action speaks not so much to moral affinities between powerful and powerless groups as much as it does to emotional inflammations engineered by governments that sustain popular fears, hopes and anxieties. Capitalism is more a love [and hate] story than a moral one.

Keywords: [“moral”,”morality”,”interest”]
Source: https://emotionalstates.wordpress.com/2016/07/07/neoliberal…

J.R.’s Zaphne Blog News for 01-31-2018

Where “Compassionate Conservatism” Falls Apart

Tisdale joined the global protests for a higher minimum wage for fast-food workers in May 2014. So while his compassion may be laudable, Brooks’ conservatism leads him to oppose any policy that would put more money in the pockets of Americans at the lower end of the economic ladder, either through public spending or measures that would compel American companies – now seeing record profits – to share the wealth with their workers who don’t have high-end skills. That’s apparent in Brooks’ dismissal of the plight of millions of low-wage American workers. “Weak labor demand, as in high unemployment, is a key factor in suppressing wage gains at the low end of the job market. It takes full employment for employers to bid up the compensation of low-wage workers.” Economist Dean Baker, co-director of the progressive Center for Economic and Policy Research, recently wrote a book with Bernstein titled, Getting Back to Full Employment: A Better Bargain for Working People, which detailed their research into the relationship between wages and unemployment. “The business press was full of pieces about companies offering child care or flex-work arrangements to keep and attract workers. They were chartering buses to take people from inner city neighborhoods to jobs at restaurants and hotels in the suburbs. In a tight labor market even workers with little education will be in demand.” It’s still relatively easy to find people who will work service jobs for poverty wages. We need to expand it such that people who are working, working honestly. While Brooks blames both liberals and conservatives for the suffering of the working poor, he doesn’t acknowledge that the earned income tax credit that once enjoyed support across the ideological spectrum has become a partisan issue. A 2013 study by David Cooper and Dan Essrow found that today, the average age of workers who would benefit from raising the minimum wage to $10.10 per hour “Looks nothing like the part-time, teen stereotype: She is in her early 30s, works full-time, and may have a family to support.” Eighty-eight percent of these workers are 20 or over; a third are over age 40. Brooks says raising the minimum wage “Would of course throw people out of work who are the most marginalized members of the workforce,” and would then “Be entirely on the public dole at that point.” But according to the Congressional Budget Office, raising the minimum to $10.10 per hour would eliminate a maximum of 500,000 jobs while raising the incomes of 17 million Americans. Arthur Brooks deserves credit for starting a conversation about the plight of the working poor in America.

Keywords: [“work”,”Brooks”,”wage”]
Source: http://billmoyers.com/2014/07/28/where-compassionate-conservatism-falls-apart

Free market capitalism and morality – Institute of Economic Affairs

It has become increasingly difficult to make a case for the morality of markets even though free market capitalism has been unequalled in reducing poverty and discrimination, and in creating opportunities for social and economic advancement. The left has hijacked the moral high ground because the proponents of free markets have been incapable of mounting a credible defence for the benefits that free markets provide at both individual and societal levels. The idea that free market capitalism is a mechanism to advance social order and decent humane relationships is considered outlandish. In reality, any attempts to modify the functioning of free markets through policy interventions and mould them into some ideal normative model invariably result in suboptimal outcomes compared to a market left to its own devices. The root cause of the problem that free market capitalism faces is that modern society tries to assess the functioning of markets by attributes that are used to evaluate the morality of individual behaviour. In order to think about the morality of markets, or lack thereof, we need to consider morality as a two-dimensional construct. Clark and Lee define these two sides of morality as magnanimous morality and mundane morality respectively. The market may be indifferent to morality, but since it aligns self-interested behavior with satisfying the needs of others, it delivers positive outcomes to the wider society as long as markets are governed by Smithian negative virtue of lawful conduct. Free market capitalism is a mundane moral construct but any attempt to equate market conduct with a commonly held perception of morality can become tangled in normative discourse. A more productive approach to address the critics of free markets is to focus on the positive outcomes of free markets that have moral merit in them on both national and global scale. In terms of policy debate, free market advocates should seek to influence decision-makers to create an environment where markets can operate free from political and special interest group interference. The Economist highlighted attempts in European countries to maintain and promote social cohesion with greater government control over the economy and concluded “That many of the policies espoused in the name of social cohesion do not promote compassion over cruelty. Rather, they encourage decline, entrench divisions, and thus threaten the harmony they pretend to nurture.” The mundane morality of the invisible hand creates an environment where each one of us is able to pursue our own self-interest through non-discriminatory impersonal exchanges governed by prices and free from normative interference.

Keywords: [“market”,”morality”,”free”]
Source: https://iea.org.uk/blog/free-market-capitalism-and-morality