Thursday, April 5, 2012

Why Capitalism Does Not Work

This will be a very succinct list. Much more in-depth study would be needed in order to understand and verify the following assertions I am making.....Here goes:

It produces economic, political, and social inequality—in order for one to gain, another must lose.

Inherently exploitative—creates wage slaves, steals labor value, and often pays CEOs 500 times the lowest paid worker.

It oppresses people and will use any ism to further oppress people to create wealth for the few.

Has an insatiable appetite that can never be satisfied to gain more wealth and power… and will use any means necessary to fill it—including cutting jobs and moving overseas, human rights violations, cutting wages and benefits, laying people off at will, destroying the environment, putting human lives at risk, and perpetuating war and imperialism around the world.

It alienates us from our work, from ourselves, and from each other.

It is based on accumulation of wealth.

It is based on competition instead of cooperation.

It puts profit over human needs.

It perverts the system by making everything based on and motivated by profit. For example healthcare… the health insurance companies make A LOT of money off of other people’s misery and suffering, instead of the system being based on quality care and access guaranteed to all regardless of income.This system creates a conflict of interest..and allows for too much risk of abuse.

It does not have internal controls and accountability measures.

It is not based on ethics or values of uplifting all of humanity.

It corrupts absolutely and invades every aspect of life.

It is hierarchical—the owners of the means of production have all the power, make all the major decisions, and reap the vast majority of profit regardless of how hard the workers work. It also sets up a political, economic, and social system that is undemocratic.

*The system we currently have in the United States is is a plutarchy which is a combination of a plutocracy and an oligarchy. A plutocracy is rule by the rich and powerful and an oligarcy is rule by a few powerful people. It also has set up a system in which money is free speech (this was thanks to a U.S. Supreme Court decisions so they are obviously not partial either) and corporations and rich people can donate with no limits to political campaigns and influence candidates anyway they want. This is undemocratic as our interests are barely represented. Only rich candidates who take corporate money can be elected to high office.

Basic facts on economic inequality today brought to you via capitalism:

Must-watch documentary that explains why capitalism is inherently flawed:

Cute short film about mice and cats that sums up why capitalism does not work: