The Fallacies of Capitalism – Marx is not the enemy.
Yes there has always been a division between classes, rich poor and working. But this is about capitalism in modern(ish) society. Written because it’s being incorrectly discussed on Twitter. Even by people who should know better. Like politicians. It’s being used to withhold funds from citizens and bailout billionaires and global corporations.
Many people swear up and down that capitalism is the best system for the people. But the first fallacy of capitalism is that it serves the people, that it gives everyone the same opportunities.
It doesn’t care if the people are poor, free, man or woman, or prisoner or child. It just cares about the fact you show up at work and put in as many hours as you can, for as few $$ as you can.
Capitalism also doesn’t care if your ideas or artistry and excellence would change the world. Or link the people of your culture. It cares if your idea will make a profit.
So things like workers’ and communities’ needs are only relevant if they impede profit.
Capitalism doesn’t even care which party is in power, or what type of govt it is, so long as they stay out of the way of their company and profits. They will pay minimal taxes, grease whatever wheels are necessary with bribes or party fund-driving to be elected. So long as they get their freedom.
And if that doesn’t work, they relocate their HQ and bank accounts so no govt can touch them. Even their franchises and factories are mobile enough that they can be moved if the govt is uncooperative with the company’s needs.
So even with unions today, your jobs are not protected. You are as replaceable as their office supplies. No matter how long you’ve worked for them.
Which doesn’t protect you if you cannot work, nor will it protect you if your job is unsafe and you become injured or ill.
Today the unions and insurance plans are so big it’s like dealing with three bosses instead of one. And unions more often side with the company now than the employees they’re meant to protect. Unions are not guilds that protect ‘the craft’ and it’s artisans and apprentices. And they never were meant to be. They serve capitalism.
Insurance firms often have policies where they bend over backwards to refuse your claim. It’s irrelevant what your need is, or how great it is.
There is some presumption that companies care for their customers. But not even that is necessary to stay in business. Their idea of safety is different than a person’s. Their risk analysis is based on whether the risk is lesser than it would cost to pay for lawsuits rather than if harm was done.
It comes down to the fact that capitalism and it’s servants are tied to $$, not people. Not any people. Money has no allegiance. And neither do it’s servants. Capitalists, the rich want to be protected from those their system fails. And if you want to defund the police and children’s aid, then the first system that has to go is capitalism. These systems were built to support the rich not having to see the poor and destitute. (ie work houses, alms houses, residential schools) And those that didn’t get that point were warehoused into jails (prisons are a form of modern slavery) and mental health facilities. Into ghettoes and reserves. Assimilation and working for the ‘man’ were key to a ‘civilized’ man’s freedom. And his ‘right’ to raise his own children.
It’s true that local franchises and mom and pop businesses are run differently than global ones. When you see your customer every week, or even everyday on the streets of town, it’s a different world for businesses than if their bank is in the Caymens and HQ isn’t even a hard, brick and mortar site.
We have to keep this in mind when politicians try to sell the idea that capitalism is a good system that has benefits for everyone. It is not and never will be the path to El Dorado. Not for you, nor for me.
Yet it is capitalism’s needs that determine where not only your taxes go, but also whether your community thrives and how your children get educated. Not your culture or your religion. And not your lives, actual or life quality.
If you want proof of that, just look around this week and see how many stores and companies are working at full tilt to drive consumerism, despite the fact there is a pandemic on. All they are this week and next are superspreaders. How is that showing caring in the season of giving and love? It isn’t.
……. definitions and resources
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.
“an era of free-market capitalism” – Oxford Languages
On one hand, capitalism is focused on the creation of wealth and ownership of capital and factors of production, whereas a free market system is focused on the exchange of wealth, or goods and services. investopedia
Free market, an unregulated system of economic exchange, in which taxes, quality controls, quotas, tariffs, and other forms of centralized economic interventions by government either do not exist or are minimal. britannica
laissez-faire, a French term that translates as “leave alone” (literally, “let you do”), is that the less the government is involved in the economy, the better off business will be—and by extension, society as a whole. Laissez-faire economics are a key part of free market capitalism. investopedia
Trickle-down economics, or “trickle-down theory,” states that tax breaks and benefits for corporations and the wealthy will trickle down to everyone else. It argues for income and capital gains tax breaks or other financial benefits to large businesses, investors, and entrepreneurs to stimulate economic growth. investopedia
A minority cannot rule a majority by force alone; it must convince its victims to submit or confuse them into paralysis. To accomplish this feat, the capitalist class presents itself, not as the scourge of humanity, but as its benefactor, even its saviour. Philanthropy is the key to this transformation. socialistreview
Unions by their very existence affirm and reinforce capitalist class society. As organizations which primarily negotiate wages, benefits, and working conditions with employers, unions only exist in relation to capitalists. This makes them almost by definition reformist institutions, designed to mitigate and manage the employment relationship, not transform it. jacobinmag
The invisible hand is a metaphor for the unseen forces that move the free market economy. … The constant interplay of individual pressures on market supply and demand causes the natural movement of prices and the flow of trade. The invisible hand is part of laissez-faire, meaning “let do/let go,” approach to the market investopedia