Economics 101 is essentially the uncritical and superficial study of capitalism. Granted, it is important to make familiar the language of our current system. But Economics does not just familiarize, it justifies. It propagandizes. It distorts logic and misconceives rationality to make capitalism seem natural, pure. It does not study society as it purports. It perpetuates it.
Archive for capitalism
Capitalism allows a minority of elites to control over 90% of the world’s resources. It allows the super-wealthy to use our resources without our consent or even suggestions. It allows those with the very most power to be unhassled by democratic institutions and concepts, such as checks and balances.
To make matters worse, capitalism rewards those most willing to cheat, backstab, and exploit. And thus the most powerful people on earth are usually the most deserving of contempt and ire.
But apologists for capitalism insist that “a rising tide lifts all boats.” Somehow, we have been made to believe that allowing a few odious people to control our resources was in our self-interest. Somehow, Christians (and others) have been made to believe that God did not give the earth and its bounties to be shared, but to be competed for.
Being it christmas, a season for brotherhood and love, I feel it to be an ideal time to review how the economic elites have been using our resources.
“Multinational corporations do not have a great deal of national loyalty and even less loyalty to Southern West Virginia”–E Morgan Massey in a letter to the Charleston Gazette, 1985
To Thomas Jefferson, the biggest threat to his new nation was capitalism, though he never used the 19th century terminology. In 1810, he wrote to a friend,
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