THE ESSENCE OF CAPITALISM

[ivanhoe]

The essence of capitalism is aiding and abetting the wealthy to accumulate more and more capital (wealth).

This is justified by the rationalization that living in a free society we all have the opportunity to amass our own fortunes.

The reality is that as the wealthy become progressively more and more wealthy (the very nature of capitalism).

They use their wealth to squeeze the working class that provides their labor and so insure their own dominance at the top of the heap.

The essence of capitalism is allowing everyone the opportunity to earn a living, own property and accumulate wealth. We do not all have the ability to amass a 'fortune' but - at least in this country - we all have a reasonable chance at making a good life for ourselves. The tax system - imperfect and over-complicated though it certainly is - ensures that 'the wealthy' chip in towards the running of society. And labour is only squeezed when there is too much of it and it is disorganised.

Wouldn't you like to be wealthy?

Generally agree with the OP, but thinking about it I wonder if rather than it being "essence of capitalism" it's actually "essence of human nature". Which was rather a depressing conclusion.

I agree with the OP. I really hope it is not human nature, it is certainly not my nature .

I have no desire to be wealthy,

Chill- you are confusing capitalism with a liberal democracy

FWIW we do not live in a capitalist state, we have a mixed economy- the state produces c.30% of GDP

in theory, a pure capitalist economy would be fair, but no-one actually believes that, so we have state intervention

OP - re "aiding and abetting the wealthy"

Because accumulating wealth is a crime now?

"the wealthy become progressively more and more wealthy"

This is demonstrably false. There are very few families who have grown or even preserved their wealth beyond three generations, except for royal families around the world.

And if you look at the list of the world's wealthiest, a significant portion are self-made.

I am not saying that it is a level playing field but that opportunities are there for all to take, regardless of where/how they have started life.

"You almost seem to be saying that capitalism is an egalitarian system here, when it isn't at all"

Don't think I said that at all. Of course pure capitalism isn't egalitarian... it's a win/lose, have/have not zero sum game. Our version of capitalism builds in a few rules, regs, safety nets and restrictions and enough socialist tweaks to make far-right Americans quite twitchy. Whatever the opposite of capitalism is... communism?... also resulted in a power-crazed, moneyed elite, of course. We're hard-wired to look after #1, it seems.

But, consider this one. Swine flu sweeps Europe wiping out a third of the population in the process. Suddenly the 'working class' are in massive demand.... Then the capitalist system that is currently accused of only existing to make the wealthy wealthier determines that the boot is very much on the other foot! The workers (as happened post plague in the Middle-Ages) put the squeeze on. Ta-daa!

The essence of socialism: denying those who are willing to better themselves the opportunities to do so, because if anyone does better than anyone else, it is "unfair".

Oh, and the state knows best. Always.

cotedazur- you are naive,we do not have equality of oportunity

lots of kids have their fate sealed by the age of 3- they are already inescapably disadvanteged

the 'wealthiest' are not 'self-made' from poverty they are self-made from middle class backgrounds- bill gates came from harvard not a trailer trash ghetto

and yes in a lot of circs, accumulating wealth should be a crime. Is is not uncommon for wealth to be accumulated by exploiting and endangering others. eg Michelle Mone of Ultimo fame is a notoriously vicious boss who has lost at least one employment tribunal for sacking a pregnant woman.

"FWIW we do not live in a capitalist state, we have a mixed economy- the state produces c.30% of GDP"

It's interesting to see what the free market produces and what the state produces. It's almost universally agreed that the free market is the best method for producing 'consumer goods' such as tv's, cars, computers, household goods and clothes.

There really isn't any other efficient method for ensuring adequate supply meets a real demand.

In the UK Health and Education are considered by many too essential for the free market. But a consequence of this, is the constant challenge to ration resources (e.g waiting lists for operations and catchment areas for schools) and allocate them fairly and efficiently.

So ivanhoe - what are you offering up as the realistic alternative?

Can I ask if we can say that the human race is becoming progressively fairer more civilised?

fairer and more civilised...?

have you only just realised this ivanhoe

uman selfishness pervades most of the -isms ?

human selfishness pervades most of the -isms ?

jackstar- yet housing and food is more essential than health or education yet we leave that to the free market

personally I'd be happy to see a big shake up of what is state and privatly produced

itsawonderful - re " you are naive,we do not have equality of oportunity"

I am not naive. You just don't understand what you read.

I said specifically that it is not a level playing field. Do you know what that means?

However, as I also said before, the opportunities are there for all to take, regardless of how they started life.

What you said about "accumulating wealth should be a crime" because... err.. "it is not uncommon for wealth to be accumulated by exploiting and endangering others" is pure nonsense, I'm sorry to say.

So driving cars should be a crime because it is not uncommon for cars to have accidents and cause pain and suffering, even death

what exactl is driving this post?

////////cotedazur- you are naive,we do not have equality of oportunity

lots of kids have their fate sealed by the age of 3- they are already inescapably disadvanteged

the 'wealthiest' are not 'self-made' from poverty they are self-made from middle class backgrounds- bill gates came from harvard not a trailer trash ghetto

and yes in a lot of circs, accumulating wealth should be a crime. Is is not uncommon for wealth to be accumulated by exploiting and endangering others. eg Michelle Mone of Ultimo fame is a notoriously vicious boss who has lost at least one employment tribunal for sacking a pregnant woman.//////

SUPERB.

///////The essence of capitalism is allowing everyone the opportunity to earn a living, own property and accumulate wealth. We do not all have the ability to amass a 'fortune' but - at least in this country - we all have a reasonable chance at making a good life for ourselves. The tax system - imperfect and over-complicated though it certainly is - ensures that 'the wealthy' chip in towards the running of society. And labour is only squeezed when there is too much of it and it is disorganised.

Wouldn't you like to be wealthy?////////

The trouble with this posting is it's naivity.

Not everybody is a capitalist, and for those who arent, their only refduge is charity, because the state no longer provides the necessities like low rented social housing for people who cannot afford to buy.

Britain is now very much like America, where the free market rules with hardly any State intervention at all.

/////The essence of socialism: denying those who are willing to better themselves the opportunities to do so, because if anyone does better than anyone else, it is "unfair".

Oh, and the state knows best. Always.//////

Please tell us all how Socialism prevents people wanting to better themselves, to do so ????????

And also please tell us how in graphic terms " the State knows best". ?

I fear that like a lot of people brainwashed by Thatcher, that you are confusing Communism with "traditional" Labour, for reasons best known to yourself.

/////we do not live in a capitalist state,////

Errrrrrrrr, yes we do, with little or no State intervention.

We are soley a free market.