The Capitalism manifesto. It is an easy link to majority of the world’s problems, and the object of blame for many. Not to say that the blame isn’t rightfully given, in some situations it is. In simple terms, capitalism is: analyzing profit seeking behaviours that know no boundaries, rules, or control.
For hundreds of years, capitalism has helped solidify a complex social pyramid, for which income and personal value are inherently connected. Apart from economists and those who work in stock exchange, many do not understand their role in the economic system. Chances are that when someone is working three jobs and is struggling to make ends meet, they will be too (mentally and physically) exhausted to pay attention to economics and politics.
With this system in place, business is run by private companies—not the government. The problem lies in taxation. Government should not run business, though corporations and businesses should be taxed appropriately by the government. The assumption being made here is that humans have honest, good intentions. History has proven time and time again that such a thing does not (and probably never will) exist. The working class tolerates inequity and endures poor economic situations, though the higher classes are the ones that keep the benefits. Those who benefit most from the system reap the gain from the disadvantaged.
When someone critiques capitalism, it is important to recognize the viewpoint from which the opinion was formed. It can range from expressing disagreement with the principles, or with particular outcomes.
Criticism of economics comes from a wide spectrum of political and philosophical approaches. Some believe that capitalism can only be overcome through revolution, as others believe that structural change can come slowly, through political reforms. Prominent among opinions are thoughts that capitalism is inherently exploitative, unsustainable, and leads to an erosion of human rights. The entire argument (in essence) looks like everybody talking about the issue, but not doing anything to fix it.
On the other hand, one could argue that extreme capitalism is the reason why the world is so advanced as it is today. But that’s the thing, humans haven’t tried other economic systems long enough to see if they truly work. With any economic system involving groups being continually taken advantage of, there comes a point when it will fail. Whether by revolt, natural disaster, or conflicts in human nature and power, it will fold, regardless of timeline and energy needed.
Extreme capitalism is working exactly the way it was intended to. This goes hand in hand with (countries such as) America’s failing health and political system. They were never designed to benefit patients, or people.
In the words of John Maynard Keynes, “Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.” It’s the ties to privilege and wealth and entitlement that bind.