Does Capitalism Inevitably Produce Inequalities?

[DirkGently]

80. It does the way we do it.

Last edited Wed Jul 2, 2014, 02:30 PM - Edit history (1)

But I don't think most of the socio-economic evils of present-day America are the result of "capitalism" generally, or could be cured by, say, having the state own all the land or means of production.

The problem comes when wealth accumulates and translates directly into political power, which is wielded to game the system. That "incredibly complex" tax code "from Washington" for example, that is so complex precisely because loopholes and exceptions and special treatment have been lobbied in.

Endless orporate collusion and consolidation. The elimination of common-sense regulation like separating savings banks from investment companies.

The evisceration of already-weak campaign finance laws.

All this cheating and power-mongering is trumpeted and defended as being "capitalism," but it's really more like capitalistic anarchy. You could have a socialist anarchy, or a communist oligarchy (like the ones we've seen) and get the same or worse inequities.

We can encourage entrepeneurship and investment and all of that without gutting organized labor or the environment, or making every election and every piece of legislation about who can pay the most.

We've done it before. Post-WWII America saw corporations paying more taxes than individuals, strong organized labor, and banks that somehow didn't run amuk every couple of years.

We need to stop calling crony capitalism and collusion and senseless de-regulation "capitalism," and letting others claim that any kind of reasonable reforms or restrictions or social programs are Communist / Satanism.

A "capitalist" country with strong labor protection, great public education, universal healthcare, environmental protections, and real banking and campaign finance reform still seems like a better bet than anything else out there.