’)Every week in the Going Postal section ITHP will nominate an individual who represents the scum of this planet.(Previous Weeks)
The problem with capitalism (reponse)
Original article
http://ithp.org/articles/problemcapitalism.html
By: Wilson Blair
It is hard to argue with much of what Ross Jefferies has to say. We live in an interconnected, globalized matrix known as the world economy. When the US housing market collapsed in 2007, shockwaves were felt as far away as Iceland and China. I get what you’re saying Ross, but you’re reasoning is deeply flawed.In a true free market capitalist society, the honest journalist who provides a quality product that people trust well eventually flourish over his less honest competitors. It is simply untrue that by reporting on the illegal activities of one of its advertisers, a newspaper will go out of business. While they may lose one source of capital, they will gain numerous others who appreciate and see potential in a scrupulous newspaper. Plus Ross ignores the major popularity surge in readership a paper may enjoy as the sole publisher of a scandal.
But let’s get to the root of what Ross is trying to say.
He writes, “When companies become too powerful how can smaller ones force the giants to become more competitive?” The argument goes that unchecked capitalism creates mega corporate monopolies that crush competitors and enslave workers. We both are in agreement on these outcomes. Anyone with a brain can see the consolidation of corporate power and its devastating effects on American workers. Yet Ross wrongly points the finger at capitalism.
What we see in the US economy today and what Ross is so worried about is not the result of capitalism, but something else entirely. Any serious look back at the history of the industrialized world reveals monopolies and oligopolies only come about with the aid of government power. Take the consolidation of media in the US. This would not be possible without the help of government subsidies and FCC regulations favorable to the large conglomerates.
What we are seeing in today’s world is corporatism. This is the close relationship between government and corporations where they collude to enrich themselves, rob the public, and then turn around and blame the effects on unchecked capitalism. This may be one or the more diabolical schemes ever invented. Now that they have convinced us that capitalism is the root of all our problems, what is their solution: Hand even more power over to us and we’ll solve everything. Give me a break!
It’s people like Ross who are enabling the very problems they condemn. I do have sympathy for Ross because he probably means well. But the road to hell is paved with good intentions.
Every week in the Going Postal section ITHP will nominate an individual who represents the scum of this planet.(Previous Weeks)