The Capitalist Delusion

Click here to load reader

  • date post

  • Category


  • view

  • download


Embed Size (px)


Capitalists make claims that many are quick to accept but do not bother to check, such as its origins, what a market is, what government is for and what primarily drives an economy. This presentation aims to confront the myths that many capitalists live by and encourage discussions on what an economy really is.

Transcript of The Capitalist Delusion

  • 1. The Capitalist Delusion Joffre Balce Philorum 19 March 2014

2. Definition of Terms Capitalism Delusion An economic system whereinvestment in the ownership and control of the means of production, distribution, exchange and payments is made and maintained chiefly by vested interests Laissez Faire Capitalism Welfare Capitalism State Capitalism False Idea/Belief System Contrary to Evidence, Yet Upheld Due to Mental Illness Delusions of Grandeur 3. Myth 1: Adam Smith is my Daddy Adam Smith Never Used the Term Some capitalists assumed they were the Invisible Hand As a state of: Encyclopedia 1754: being rich William Makepiece Thackeray (1854): having ownership of capital As a system: Karl Marx: kapitalistisches system und kapitalistische Produktionsform 2,600x in Das Kapital alone 4. Myth 2: Capitalism IS Free Enterprise Free enterprise is an economic system where few restrictions, minimal competition & other interventions are placed on private business activities and ownership Capitalism is Corporate Mercantilism Mercantilism is an economic governance system for the purpose of augmenting state power at the expense of rival national powers. Capitalism sprung from government supported development of global trade, which sprung from a mercantilistic belief that trade would strengthen a country militarily and politically. corporate human rights 5. Myth 3: Capitalism IS About Free Markets A free market is where the forces of supply & demand are free of external or insidious intervention in contrast with a controlled/regulated or manipulated market In the US, there are 4 lobbyists for every member of Congress: favours; incentives; contracts; concessions; bail outs. There are old boy networks & revolving doors between government officialdom & corporate management/directorship Co-opetition: Monopoly is the Ultimate Aim but Will Settle for an Oligopoly 6. Myth 4: Profit As Primary Motive What Drive People? When the pursuit of material reward such as sheer profit people tend to cheat, take shortcuts, compromise quality & pride of workmanship. Rent (a.k.a. Passive Income) Seeking Grabbing Capture 7. Myth 5: Tragedy of the Commons The commons can & should be private property to maximise their use & benefit There Are No Rights, only to your property, if you have any Labour becomes a a (Human) Resource Licenses, Contracts and Laws Can be Bought, Sold & Negotiated The Result of such a framework: Marginalisation Alienation De Facto Slavery 8. Myth 6: Customer Is King Where the Buck Stops: Pass on the burden of taxation Perception Management: the Practice of the Ultimate Disrespect Theres a sucker born every minute Your ignorance is their power Military Warfare is to Geopolitical Territory as Corporate Warfare is to Consumer Market Territory Consumers ARE THE Milking Cows, the source of strength but also the crucial lifeline. Capitalists Greatest Fear: Consumer Boycott! 9. Myth 7: You Owe Us for the Good Stuff Communist Manifesto: Workers, Not Capitalist Demands Achieved through Struggle & Revolution From Where Breakthrough Research Comes Government Academe Corporate R&D means: Research is Converting Money to Knowledge & Ideas Development is Converting Knowledge & Ideas Into Money More conservative; has to please investors. But less accountable to public 10. Myth 9: Everything Has a Price Price: the quantity of payment or compensation given by one party to another in return for goods or services Value: Not the Same ... the regard that something is held to deserve; the importance, worth, or usefulness of something; principles or standards of behaviour; one's judgement of what is important in life The Best Things in Life Are Free ... Which is why the capitalists want to privatise them. 11. Myth 8: Capitalists Risk Their Own Money Banks & Businesses Leverage Financial Institutions Underwrite & Sell Shares How Pension Funds Are Held Hostage Even in Charities, Corporations Claim Tax Breaks on YOUR Donations! When the Shit Hits the Fan, Taxpayers Bail Them Out Environmental Disasters Financial Crises & Panics People who risk their own money they worked for are entrepreneurs. Their labour preceded their capital. 12. Myth 10: The Alternatives Are Worse Communism Works: several regencies in Japan & the Indian State of Kerala Movement of Co-ops & Credit Unions Raiffeisen, Mondragon, Desjardin, NCBA, Rochdale Georgist Economics, however piecemeal & used currently by police states Nordic/Germanic Countries with strong welfare policies 13. What Next? Criminalise? Cant use freedom of association to hinder anothers in the same name. Chop Their Heads Off? It will only make them political economic martyrs & fuel zeal for the movement. Engage! Dont Be Afraid. Learn but Discern! Including spotting & un-learning the myths What the Capitalists Hate Most ... Use their very own weakness against them 14. How Capitalism Really Works! A scene from Glengarry Glen Ross Know the Real Rules by which they play & they will stop surprising or disappointing you. Remember, Capitalists Are NOT Clients. If you dont like it, LEAVE! 15. Happy Myth Busting!