Class Warfare Blog

April 11, 2019

Is Capitalism Given Too Much Credit?

Filed under: Economics,History — Steve Ruis @ 8:27 am
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Over at Ian Welsh’s website, Mr. Welsh has posted yet another brilliant takedown of our common knowledge/wisdom, aka “everybody knows.” he points out that many of the benefits claimed for capitalism were actually a result of industrialization, something that allowed the nascent Soviet Union to outgrow most other countries for quite some time.

Don’t Confuse Capitalism with Industrialization

Here’s a taste:

“We need to stop being nodes in a shitty resource allocation algorithm, and we need to start actually making sane decisions based on group autonomy and welfare.

“And capitalism, capitalism doesn’t do that.”

A very important perspective.

This is typical of what people do. If they like something they attribute positive properties to it whether or not they are possessed by that thing. I recall a teaching colleague who regularly received high marks for her sense of humor in her mathematics classroom. She points this out because she used no humor whatsoever in her teaching. But she was a very good teacher and was also kind and understanding as the teacher of a topic some find quite difficult, so she received high marks for everything surveyed.

Have we done the same for capitalism? I believe so. In addition to this normal tendency, there are people who have much to gain who propagandize the topic. These people often claim that “capitalism is the greatest economic system ever invented,” but if you query them on their knowledge of other economic systems, they are woefully ignorant. How can one claim A is better than B when they have no real idea what B is?

Read the piece, highly recommended . . . and it is short!

October 3, 2018

The War with the Parasite Class

Another important post over at Ian Welsh’s website is well worth reading:

How Over-Priced Is the US Housing Market?

Here is just a taste of the tone of the article:

“Parasitical economies, and most developed countries have one, exist by immiserating people.

“This is the real reason for the current push for basic income: the parasite class is scared they may be about to kill the host, and want a government infusion to keep the poor and the (reduced) middle class stumbling on.

“I don’t oppose a basic income, but understand that billionaires aren’t supporting it out of the goodness of their hearts. They expect to take every cent the government gives you.”

 

January 6, 2017

A Taste of Ian Welsh

Filed under: Economics,History — Steve Ruis @ 1:53 pm
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For the full post you click here, or just read the excerpt below. In either case you will probably be hooked by the brilliant mind of Ian Welsh.

A civilization ends when it can’t handle problems that are totally obvious, because its ideology won’t allow it to deal with them. In our case, the ideology is economics and capitalism, which insists that decisions must be made based on what maximizes profit. Our ideology doesn’t recognize that profit is a social construction, and doesn’t take into account all the upsides or downsides of doing anything. This, combined with our moral belief that money is ‘good,’ and that the more money you have the better you are, is killing our civilization.

I couldn’t agree more.

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