Well, When You Put It That Way: Capitalism In A Nutshell!

 

 
Good question.

Although this has a few too many words to qualify as a Hemingway-esque six-word short story, this sign still gets its point across louder than dozens of articles on the American economy do each week…

And while we’re on the topic, you might enjoy these articles (excerpts below):

Why you’re wrong about communism: 7 huge misconceptions about it (and capitalism)

Capitalist economies are based on free exchange.

The mirror-image of the “oppressive communism” myth is the “liberatory capitalism” one. The idea that we’re all going around making free choices all the time in an abundant market where everyone’s needs get met is patently belied by the lived experience of hundreds of millions of people. Most find ourselves constantly stuck between competing pressures and therefore stressed out, exhausted, lonely, and in search of meaning. — as though we’re not in control of our lives.

We aren’t; the market is. If you don’t think so, try and exit “the market.” The origin of capitalism was depriving British peasants of their access to land (seizure of property, you might call it), and therefore their means of subsistence, making them dependent on the market for their survival. Once propertyless, they were forced to flock to the dreck, drink and disease of slum-ridden cities to sell the only thing they had – their capacity to use their brains and muscles to work – or die. Just like them, the vast majority of people today are deprived of access to the resources we need to flourish, though they exist in abundant quantities, so as to force us to work for a boss who is trying to get rich by paying us less and working us harder.

Even that boss (the apparent victor in the “free exchange”) isn’t free: the market places imperatives on the ownership class to relentlessly accumulate wealth and develop the forces of production or else fail. Capitalists are compelled to support oppressive regimes and wreck the planet, as a matter of business, even as they protest good personal intentions.

And that’s just the principle of the system. The US’s particular brand of capitalism required exterminating a continent’s worth of indigenous people and enslaving millions of kidnapped Africans. And all the capitalist industry was only possible because white women, considered the property of their fathers and husbands, were performing the invisible tasks of child-rearing and housework, without remuneration. Three cheers for free exchange.

                Read full article.

And this,
Five Economic Reforms Millennials Should Be Fighting For: Guaranteed jobs, universal basic incomes, public finance and more.

It's a new year, but one thing hasn't changed: The economy still blows. Five years after Wall Street crashed, America's banker-gamblers have only gotten richer, while huge swaths of the country are still drowning in personal debt, tens of millions of Americans remain unemployed – and the new jobs being created are largely low-wage, sub-contracted, part-time grunt work.

Millennials have been especially hard-hit by the downturn, which is probably why so many people in this generation (like myself) regard capitalism with a level of suspicion that would have been unthinkable a decade ago. But that egalitarian impulse isn't often accompanied by concrete proposals about how to get out of this catastrophe. Here are a few things we might want to start fighting for, pronto, if we want to grow old in a just, fair society, rather than the economic hellhole our parents have handed us.

1. Guaranteed Work for Everybody

Unemployment blows. The easiest and most direct solution is for the government to guarantee that everyone who wants to contribute productively to society is able to earn a decent living in the public sector. There are millions of people who want to work, and there's tons of work that needs doing – it's a no-brainer. And this idea isn't as radical as it might sound: It's similar to what the federal Works Progress Administration made possible during Roosevelt's New Deal, and Dr. Martin Luther King, Jr. vocally supported a public-sector job guarantee in the 1960s.

                Read full article.

And this, I’m a Member of the American ‘Used-to-Haves’.

I used to have a house. I used to go on vacations. I used to shop at department stores, get my hair done and even enjoy pedicures. Now, I don't. I'm a member of the American "Used-to-Haves."

Now, I'm renting an apartment and I'm desperately awaiting a check so I can pay the rent. Yet, I'm lucky to have an apartment that includes utilities. Despite my college degree from a prestigious college, and solid employment track record, I can't get a job. It's been so long since my corporate days, I now feel unemployable.

My age doesn't help. But I'm as healthy as a thoroughbred, I appear quite young and would gladly accept a basic salary. I'm a bargain! But no. I'm freelancing for $15 an hour these days, but I used to earn $100 an hour. In fact, all the freelance hourly rates have been driven down to $15-30 an hour. To make ends meet, I also work as an aide ($13.75 an hour) and run a small local company. And my annual earnings are under $20,000... For the "Used-to-Haves," every day is a struggle to hold onto hope. Everywhere we look is a reminder of what we used to have.

                Read full article.

 

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