Critique of Capitalism

Discussion in 'Opinions, Beliefs, & Points of View' started by suicide_ideation, Jun 20, 2007.

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  1. THE TWENTIETH CENTURY was dominated by two opposing ideologies: communism and capitalism. Communism collapsed, as practised in the Soviet Union and Eastern Europe. What is left in China is not communism: it is an authoritarian state with a capitalist economy. So capitalism seems to rule the world. It claims to be the only system capable of solving the world's problems. Mrs.Thatcher, one of the great apostles of capitalism, claimed, "There is no alternative."

    In his radical and controversial article, Sir John Whitmore questions that claim. He shows that not only is capitalism incapable of solving the problems of humanity, but in fact hunger, pollution, the breakdown of social fabric, human unhappiness and many other problems are caused by capitalism. In his view there is no such thing as good capitalism or compassionate capitalism or capitalism with a human face. Without beating about the bush he states that capitalism is bad, bad, bad! Sir John comes from a capitalist background, and is a coach for many business leaders. So we need to pay attention to what he says.

    All past efforts towards a free-market economy, world trade, globalisation, industrialisation, the pursuit of high living standards, unlimited economic growth and every other form of capitalist endeavour have benefited only a small minority; the big players. As far as the vast majority of people around the world are concerned, capitalism has brought loss of livelihood and destruction of their environment. The promise of happiness and high living standards for all is a distant mirage, a mere promise for tomorrow.

    Even where money and material goods are plentiful, selfishness, greed, competition, crime, violence and frustration prevail. Capitalist societies are left with increasing rates of cancer, obesity, depression and stress.

    Capitalism has failed in human terms. But even more drastically capitalism has failed in terms of the natural environment. Capitalism is rapidly destroying soil fertility, biodiversity and the atmosphere. So capitalism founded on the ideology of unlimited economic growth and industrialised mass production is not only unsustainable - it is blatantly harmful.

    Many of our readers may not agree with this position. But we at Resurgence think that this is an important area for debate. We would welcome letters from our readers on this subject.

    It would be good to take Sir John's arguments further and develop a coherent alternative. In the age of ecology even socialism is not enough. It too is anthropocentric and eco-destructive, and it too advocates industrial mass production. It offers an economic system of the old paradigm. Now, if neither socialism nor communism nor capitalism, then what? We need a new system for the age of ecology, a system which is embedded in the care of all people and also in the care of the Earth and all life upon it. We need a system which replaces our capitalist worldview with a naturalist worldview, and which shifts our society from capitalism to 'naturalism'.

    The speech by the Prince of Wales to the Institute of Chartered Accountants also touches on this theme. Accounting must concern itself with more than the bottom line. Counting money is not enough. Money is not wealth: it is only a measure of wealth; the real wealth is people, communities, cultures, land, forests and rivers. Accountants therefore need to take all these elements into account. The bottom line has to include social and natural as well as financial loss and gain. What kind of future would it be if we had plenty of money but a planet denuded of beauty and wild?
  2. normaljoe

    normaljoe Well-Known Member

    I wrote a page on Microsoft word on why your anger at Capitalism is misplaced. and then realized I had not even gotten past correcting you that China was not a Capitalist nation. That i had not even finished what the definition of REAL Capitalism is, because you definitely have never read Hayek. I then decided it was fruitless to reply in this style, because writing a Novel on your miss understanding of the term "high living standards" and your subjective claims to cancer rates, depression and stress, and your complete LACK of sources would only invite an empty response filled with the same senseless arguments. Also you propose that Capitalism supports the idea of unlimited economic growth? that is laughable. if one were to pick up a book on REAL capitalism, it would clearly state that an economy is built on the fight against SCARCITY, so right from the start growth is inhibited because of the natural scarcity of certain capital. (be it production capital or other.) so instead I will just list off sources for reader in this forum, so they can decide on their own.

    1. F.A. Hayek, Road To Serfdom
    2. End the Fed by Ron Paul
    3. Privatization of Roads and Highways by Walter Block
    4.Study Guide to the Theory of Money and Credit by Robert Murphey
    5. Karl Marx and the Close of his System
    6. Communist Manifesto (worldly understanding and so you can actually read the insanity)
    7 Socialist Calculations by FA Hayek
    8. Revolution A Manifesto, by Ron Paul (yes you may not like him but he makes very good points in this book, think of it as a basis of understanding on what liberty and rights are)
    9. The Case For Gold by Ron Paul and Lewis Lerhman
    10. Anatomy of the State by Murray Rothbard
    11. Our Enemy the State by Albert Jay Nock
    12. ANY and all blogs posted by Tom Woods or Lew Rockwell, (just google their names)
    13. daily Literature posted on the Mises Institute for Austrian Economics. (
    14 Power and Market: Government and the Economy by alberty jay nock
  3. justMe7

    justMe7 Well-Known Member

    Nothing like finding 6 year old threads :D
  4. poisonedresistance

    poisonedresistance Well-Known Member

  5. normaljoe

    normaljoe Well-Known Member

    I consider myself well read and I respect that he challenges the ignorant, the uninformed. The Austrian view is quite different from Keynesian, Keynesian encourages the idea of circular flow or "spend spend spend spend idea". That idea encourages the debt, the mal investment from free credit. The problem is not the market. the problem is the system of Govt that encourages Keynesian ism. Capitalism is nothing more than a system of voluntary exchanges. what shall we replace voluntary exchange with? Society advances when the individual does, and the individual advances when left to their own accord.
    I like how his problems are mostly that of government. ie the military budget. He does not talk about the immorality of the redistribution of wealth, the theft needed or the guns needed to make it happen. Everything Govt does utilizes force and coercion. the market is one of the best forms of distribution of resources.
  6. ryan.

    ryan. Well-Known Member

    I am a Marxist and am a member of the CWI (committee for a worker's international) we have chapters in over 40 countries worldwide and are represented on every continent; we are one of the largest Marxist parties in the world, following in the legacy of Marx, Engels, Lenin and Trotsky. If anyone has any questions or comments about capitalism, or the Marxist critique of is, I'd be more then happy to respond.
  7. Raven

    Raven Guest

    I smite thee Necro thread, back to the dust from wince ye came.

    (Really Guys if you want to start a thread about Capitslim feel free. Don't dredge up a thread this old).
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