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I’m continuing my reporting on the current installment of Conservative Estimate, the recently founded website that is devoted to demolishing Conservatism
Yesterday, Mr. George showed that private enterprise is not necessarily superior to public services in terms of providing necessary commodities of life.

Today he he discusses why Capitalism needs to be reined in.

Let’s cross the orange divide to look at his argument.

Mr. George begins his brief treatment of the subject by pointing out that Capitalism is undoubtedly productive.

But then he notes that he has shown it to be based on an unjust act of force by the capitalist against the worker, and he continues:

[S]ince force is in itself unjust, it doesn’t make sense that Capitalism should accepted uncritically in society. The whole point of government, as Madison said, is justice. How can any activity rooted in injustice play a role in a just society?
Mr. George goes on to remind us that decent people can mitigate (but not remove) the injustice of Capitalism.
So society could allow Capitalism to play a role, provided that its negative aspects were controlled. It would need strict oversight. Someone would have to watch and regulate the transactions of capitalists in order to prevent them from using the force inherent in the system to harm the workers, either intentionally or unintentionally.
For this reason, if Capitalism is to be allowed in civil society, it needs a power to govern and control it, lest it do harm to the workers, who actually create the goods and services that capitalists bankroll.

You can read the whole post here.

Tomorrow Mr. George will discuss why “job creators” are not needed in a decent society.

I’ll be reporting back each day as a new installment appears.

Originally posted to ThePlainThinker on Thu Jan 03, 2013 at 03:30 AM PST.

Also republished by Anti-Capitalist Chat and In Support of Labor and Unions.

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Comment Preferences

  •  Capitalism seems to have destroyed, or bought, (3+ / 0-)

    The Rule of Law-or whatever that is these days.

    "Time is for careful people, not passionate ones."

    "Life without emotions is like an engine without fuel."

    by roseeriter on Thu Jan 03, 2013 at 04:03:31 AM PST

  •  Capitalism as we know it is gone (3+ / 0-)
    Recommended by:
    ThePlainThinker, Gooserock, JayRaye

    The Economist has written a lot regarding the emergence of state-capitalism, or state-run capitalism- with most roots originating from the Singapore model, which China has used partly as a model. Conventional capitalism has found it difficult to compete against such a model, as witnessed by the shifting Forbes rankings.  

    In a sense, this is Mussolini fascism in its purist form- as it is corporatism being the merger of business and state interests.

    In regards to our own practice of capitalism, it has largely been supplanted by some twisted, powerful form of high-risk speculation, a ponzi scheme of monies not realized, and the distribution of assets accordingly- without regard to national loyalty or the common good. The tax and other systems reinforces this behavior.

    Thanks for the post.

    Presently, Capitalism is a VERY important topic for review.

    •  Globalization, Without Regard to National Loyalty- (1+ / 0-)
      Recommended by:
      JayRaye

      wasn't that the whole point?

      We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

      by Gooserock on Thu Jan 03, 2013 at 05:58:56 AM PST

      [ Parent ]

      •  no it wasn't (1+ / 0-)
        Recommended by:
        JayRaye

        "So society could allow Capitalism to play a role, provided that its negative aspects were controlled. It would need strict oversight. Someone would have to watch and regulate the transactions of capitalists in order to prevent them from using the force inherent in the system to harm the workers, either intentionally or unintentionally."
        ...That was the point

        I was simply expounding on capitalism's present role (or not)- globally and domestically- without drawing conclusion or opinion.
        besides, we're now beyond the prospects of controlling its negative aspects. this is the advent of what Wohler (sp?) from Berkley refers to as 'inverted totalitarianism'
        -and short of massive change globally, it is yet to be defined how action borne of oversight might emerge.

    •  Please don't spread that corporatism and (1+ / 0-)
      Recommended by:
      JayRaye

      Mussolini meme.  It is based on a false quote and the corporatism of Mussolini was not was we call corporatism today.  It was closer to syndicalism, but with a top down control.  It did not refer to corporate control of things.

      The revolution will not be televised. But it will be blogged, a lot. Probably more so than is necessary.

      by AoT on Thu Jan 03, 2013 at 08:50:45 AM PST

      [ Parent ]

      •  i don't entirely disagree (0+ / 0-)

        Tannenbaum's The Fascist Experience is a very strong study of the emergence of such a model. Syndicalism? To a great degree, but disregarding Mussolini's true objectives.

        As for the Mussolini quote- you might advise specifically the falsehood of the quote. For my own info.

        As for corporatism today- with globalisation, technology, and the emergence of state-sponsored capitalism- we will be forced to redefine corporatism/capitalism altogether.
        Wohlin (sp?), respected journals, and gee- even Hedges have  attempted to do that in their writings concerning inverted totalitarianism- a theory that i personally ascribe to.
        but that's just me...

        Have a good day and thanks for response-
        m

  •  This morning I read the series on The Myth of (4+ / 0-)
    Recommended by:
    JayRaye, wenchacha, AoT, ThePlainThinker

    Capitalism and it was the piece that looks back to Lincoln that I found most striking.

    "Labor is prior to and independent of capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration."
    I travel to France sometimes and I see the value of labor is understood there.  An American friend travelling with me once gushed to our French hosts about the free health care they have compared to the American system.   In return for her complements about all that the French get for free, she was given a stern and emphatic lecture.

    Nothing is free when you work your whole life after finishing school.  The health care, education, and retirement are all paid with your labor and not too much to ask as compensation.  Having the fruits of your labor is your right.  

    It wasn't until the last year or two that I understood the full impact of what that French woman said.  People in America don't see clearly how their labor has been devalued.  Our system obscures how Social Security is funded with a payroll tax and employer contributions.  Deceptive politicians add to the confusion.  The public understands it should have something upon retirement and it fixates on the individual payroll taxes paid instead of the full value of its labor.  It's almost a taboo subject in America in certain company, where socialism has become a dirty word.  

    Thanks for posting these educational diaries.  

    "Democracy is a life; and involves continual struggle." ---'Fighting Bob' LaFollette

    by leftreborn on Thu Jan 03, 2013 at 06:20:04 AM PST

  •  Capitalists' use of force! (1+ / 0-)
    Recommended by:
    AoT

    Time was when labor leaders understood that Capitalist use force to keep labor beat down.

    Somewhere along line, they forgot that.

    So society could allow Capitalism to play a role, provided that its negative aspects were controlled. It would need strict oversight. Someone would have to watch and regulate the transactions of capitalists in order to prevent them from using the force inherent in the system to harm the workers, either intentionally or unintentionally.
    Strict government oversight would be nice, yes, but unlikely without a strong labor movement:

    1905
    Rose Scheiderman

    We must stand together to resist, for we will get what we can take - just that and no more.

    WE NEVER FORGET Our Labor Martyrs: a project to honor the men, women and children who lost their lives in Freedom's Cause. For Dec: Life so cheap; property so sacred.

    by JayRaye on Thu Jan 03, 2013 at 07:12:43 AM PST

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