Archive for the 'free form' Category

Capitalism does not exist

30 September, 2008

Unlearn your lessons, expose your assumptions and repeat after me:

Capitalism does not exist.

Mainstream journalists found a long forgotten voice when they stated the obvious in yesterday’s papers – free market for the poor, socialism for the rich. This is not suddenly true because of the recent bailouts, but has been true since forever:

Capitalism does not exist.

Forget about laissez faire, ignore the claims of level playing field, recognise that contracts are instruments of oppression and accept, once and for all, that

Capitalism does not exist.

What is capitalism supposed to be? Wikipedia says it refers to an economic and social system in which the means of production are predominantly privately owned and operated, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a market economy.

Except – it doesn’t work that way, does it? The market currency, money, is the same as the power currency. Success in the market translates into influence in politics. And what else is politics but deciding the rules of our society? Market players influence politicians to change the rules of the market in their favour. This bears no relation to the theory of a free market economy.

Capitalism does not exist.

And if capitalism does not exist, if the people proclaiming its superiority engage in the very practices they denounce, is it not about time to set the record straight and shape our societies the way we, the people, want?

Shall we?