Comments by "Harry Stoddard" (@HarryS77) on "YouTube Commenter Makes Great Point On John Oliver's Jill Stein Smear" video.
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Can everyone be a millionaire inventor? Or will there have to be people to sew clothes, pick up trash, pave roads, care for children? If so, should they be condemned to a life of long hours, low pay, and minimal if any benefits? Or should the promise of society be that everyone, especially in a wealthy country, can live a decent, productive life with time for leisure and personal growth? If the 50s were the Golden Age of the US economy, and we're producing roughly double of that now, why do we have to work the same hours for lower (adjusted) wages? It's because of the insane logic of growth that says we have to compete or perish, that we have to rush headlong to the edge of the cliff before everyone else.
In a capitalist system, businesses and corporations hold power. Unless laborers unionize, their individual power is negligible compared to the corporation. It's the corporation who decides who to hire and the terms for hiring (when have you ever presented a company with a contract or list of demands?). Governments at their best can intercede on behalf of the working population, to whom they are accountable.
If we've forgotten the usefulness of governments when it comes to curbing the private tyranny of (big) business, it's because we've grown accustomed to government protection, much as anti-vaccers take for granted the herd immunity they're intent on compromising.
The question of "merit" is problematic, even though it is often appealed to as a conversation ender. Surely we can all agree that people should be judged, at least to an extent, on their merit. But it's clear that our capitalist system, in its many permutations, has rarely operated on merit. Does Mark Zuckerberg really merit his billions in wealth? He made Facebook. Does he really merit more than a doctor or civil rights lawyer or a physicist? Merit is not a substitute for value.
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Fred Hampton's Ghost While I think Fred is being a little fast and loose with facts (for one, wikipedia is not a credible source), he's essentially right.
The problem with people is that we tend to naturalize our current circumstances and by so doing come to interpret all other ways of living through the terms of our existence. So it is that we in a capitalist system see hunter-gatherers as lithic proto-capitalists, and we in the Judeo-Christian world see religion as god-worship, but when you read the scientific or anthropological literature, religion and economics are much richer, more diverse and complex things. Interpreting the world from our own viewpoint can be a powerful tool, leading to novel insights, but it can also be an intellectual crutch that prevents us from seeing the novelty and contingency of our own circumstances.
Division of land into parcels of private property is a relatively new idea. When Rousseau said "the first man who, having enclosed a piece of land, thought of saying 'This is mine' and found people simple enough to believe him, was the true founder of civil society. [...] the idea of property, depending on many prior ideas which could only have arisen in successive stages, was not formed all at once in the human mind," he wasn't speaking about some bygone era; land inclosure was still a reality in his day, and one that many people felt was "unnatural."
Moreover, capitalism did not only fail to reduce wealth inequality; in some sense it has accelerated it. Like the OP, I don't think it was ever the point of capitalism to reduce wealth inequality.
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Fred Hampton's Ghost "The problem is capitalism is inefficient. It is incapable of humanely distributing the goods and services produced by labor and planning's high productive capacity."
Capitalism is good at making a lot of shit, but not so great at distributing it or even knowing what shit is the best to make.
The pro-market argument (and it's worth remarking that capitalism isn't the only economic system with markets; even anarcho-syndicalists want free markets) is that the market will dictate the needs and desires of the consumer. People vote with their wallets.
The problem with capitalist markets is that they are slow to respond. Take climate change. Any serious person knows that we needed a radical overhaul of our economy and energy five, ten, twenty years ago. But here we are, in 2016, still haggling over a degree here, a degree there. And what has the market done? Very little of its own volition. We're still fracking, still gas-guzzling, still exploiting tar sands.
One reason they're slow to react is that it is in the interest of corporations to conceal their anti-social, unsavory behavior while it is in the consumer/public's interest to know as much as they can about that company, in theory. Those two interests are at constant odds.
But I'm curious about why you think the inefficiency of the market contributes to mass poverty.
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