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Page 1: The Capitalist Delusion

The Capitalist Delusion

Joffre BalcePhilorum 19 March 2014

Page 2: The Capitalist Delusion

Definition of Terms

Capitalism Delusion

• An economic system where investment 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

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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

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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

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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 UltimateAim but Will Settle for an Oligopoly

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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

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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

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Myth 6: Customer Is King Where the Buck Stops: Pass on the burden of

taxation Perception Management: the Practice of the

Ultimate Disrespect There’s 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 ofstrength but also the crucial lifeline.

Capitalists Greatest Fear:Consumer Boycott!

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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

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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.

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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.

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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”

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What Next? Criminalise? Can’t use freedom of association

to hinder another’s in the same name. “Chop Their Heads Off?” It will only make

them political economic martyrs & fuel zeal for the movement.

Engage! Don’t Be Afraid. Learn but Discern!

Including spotting & un-learning the myths

What the Capitalists Hate Most ... Use their very own weakness against them

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How Capitalism Really Works! A scene from Glengarry Glen Ross http://www.youtube.com/watch?v=y-AXTx4Pc

KI Know the Real Rules by

which they play & theywill stop surprising or disappointing you.

Remember, Capitalists Are NOT Clients.

If you don’t like it, LEAVE!

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Happy Myth Busting!