Serious people think we should end capitalism. Here is a link to an article by Naomi Klein. It's long but worth reading.
http://www.thenation.com/article/164497/capitalism-vs-climate
That article is interesting not only for her call to replace capitalism with "collective planning," suppressing growth and nationalizing corporations, (for starters); but also for her admission that global warming/climate change is the perfect hammer with which to beats us into agreement. That is, she openly states that, yes, the left is using climate change fear-mongering to push their political agenda. And they are right to do so, she says, because the leftist agenda is the only way to avoid eminent destruction of the world! The best part is where she describes "cultural cognition."
She writes:
This refers to the process by which all of us—regardless of political leanings—filter new information in ways designed to protect our “preferred vision of the good society.” ... In other words, it is always easier to deny reality than to watch your worldview get shattered, a fact that was as true of die-hard Stalinists at the height of the purges as it is of libertarian climate deniers today.
I agree with the social scientist Klein is referencing here, but I find it odd that at no point does she consider that maybe it could apply to her. Instead she insists that global warming is proof positive that liberal ideology is and always has been the one true way. How amazing that every liberal political theory and/or idea perfectly solves every problem facing the world at the moment.
Many of the Occupy Wall Street protesters openly call for ending capitalism as well. Apparently also personal property rights and the rule of law.
I'm just a joe, of course, so what do I know? But this is my blog so I'm going to make a case for capitalism. I think people like Klein and the OWS crowd are taking a very short view of history, and misreading that too.
There are two things people like Klein and the OWS crowd just don't seem to understand:
1. Capitalism isn't perfect, but it's better than any alternative
and B. We enjoy our current quality of life because of capitalism.
But look at #6 on Klein's list: Taxing the Rich and Filthy
Most of all, however, we need to go after the profits of the corporations most responsible for getting us into this mess. The top five oil companies made $900 billion in profits in the past decade; ExxonMobil alone can clear $10 billion in profits in a single quarter
This is probably true, but how long would it be true? How long will these corporations be wealthy after they are nationalized? Where do you go for money after you've destroyed the profitable corporations? There is a reason all of us evil conservatives "fondle" our copies of Atlas Shrugged (fondle is Klein's word, super classy!)
Here again is proof that liberalism contradicts itself. They want to use the wealth of the top five oil companies to fund all their policy priorities, yet their priorities would destroy the profits of those companies. Look at Klein's six points. Steps 3, 4 and 5 would render 6 moot in a very short time, which would make it impossible to fund steps 1 and 2.
From the article some of Klein's goals:
One of the key areas in which this collective action must take place is big-ticket investments designed to reduce our emissions on a mass scale. That means subways, streetcars and light-rail systems that are not only everywhere but affordable to everyone; energy-efficient affordable housing along those transit lines; smart electrical grids carrying renewable energy; and a massive research effort to ensure that we are using the best methods possible.
How far along the path to these "big ticket investments" do we get before the money runs out? And who is going to pay for the upkeep if the big money-making corporations are nationalized?
Haters of capitalism must lack a fundamental understanding of how we got where we are. Again, I'm no economist. But I can't trust any of them anyway, because no matter what your political outlook is, you can find an economist who agrees with you. Not to mention that since the 70's, which is my frame of reference, no economist has predicted with any certainty what was going to happen with our economy. They are guessing, granted they are making educated guesses, but like the climate, the larger the scale of the system the less accurate even the educated guesses become.
So back to my point. Competition leads to progress. Capitalism is competition. How do people not understand that the car they drive, the cell phone they use, the websites they shop at, the clothes they wear, the TV they watch, etc... are all the result of capitalism? If you destroy the profit motive, what drives innovation?
Are we so satisfied with the world the way it is that we are willing to call it done? This is the pinnacle of human progress? Pick a product, anything you can think of will work. The laptop I'm typing on for example. Is this the best that can be done? Or can it be improved upon? I'd like a solid-state drive and a backlit keyboard. These exist, Apple features them in the MacBook Air. They've actually been around for a few years, but at a pretty high price. Actually I'd say too high. So what does a poor 99 percenter do? Wait.
But why? What's going to happen if I wait? Capitalism is going to happen. If the marketplace deems the solid-state hard drive and backlit keyboard to be good ideas, they will sell. If they sell, other evil corporations will see it and copy it. That will drive prices down to the point where I can afford it. Not only that but if another company makes a small tweak that improves the product, that too will be copied and in turn improved upon. (This is so basic, I feel a little angry at even having to type it out.)
One might ask, who is going to buy that initial overpriced product to begin with? Well, that's where the 1% comes in, lol. Liberals may decry the income disparity in America, but the rich are the early adopters of all the technology that we take for granted. Who bought the first cell phones? Rich yuppies. Who else could afford them? Now who has a cell phone? Everyone, even little kids. That doesn't happen in any other economic system.
I think a good argument can be made that we all benefit from having a large group of high-income earners. Not just for their ability to afford to buy new Harleys and Audis that they don't use and later sell to us for huge discounts either! But also for their example. Not everyone can or will move from poor or middle-class to rich, but some can, and some will. And they inspire and encourage all of us. And in the meantime, they raise our standard of living.
Are we ready to end this? We're ready to destroy the profit motive and punish success? Because some people get rich and some don't? That's going to happen in any economic model. Life can't be made fair, no matter how badly we want it to be.
We have to choose if we want to enjoy the many benefits of capitalism and deal with the few negative consequences, or suffer equally under (insert any alternative here.)
I can't take any person or group seriously that seeks to replace capitalism with some other economic model.
