Is surging inequality endemic to capitalism? - Review of “Capital in the Twenty-first Century”

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Capitalism, in its purest forum, isn't necessarily a 'bad' thing when defined in the context of 'voluntary' trade. However, what we have today is more of a neo-fascist/plutocracy than anything else. This ultimately leads to a form of structural violence that most anarchists don't really want to discuss when truly analyzing the 'non-violent' principal.

I think what Iakinta is alluding to is the reality of structural violence, which is an inevitable byproduct of a hierarchical system based on profit incentive. You will fundamentally have interest groups who make decisions based on capital gains, rather than on empowering, educating, and nourishing humans and/or prioritizing the preservation of the earth's biosphere.

The other, more pressing issue is the paradox, or contradiction of capitalism itself. In a technologically advanced society abundance is almost unavoidable. Abundance is anathema to a free market/capitalist system which requires scarcity. In this day and age of recession, manufacturers are scrambling to automate, which in turn will eliminate more jobs, and subsequently eliminate the purchasing power of their consumer base.

There are a lot of variables to consider but I pretty much agree that "capitalism" itself isn't to blame as much as our inability to evolve and adapt alongside technological innovation. A concept such as 'money' is an old world concept which should have waning relevance in a world with increasing abundance. For example, people are suffering in many countries where there is limited access to resources and commodities. Oftentimes, the issue is not whether the resource exists, but whether the country has the necessary capital in order to 'purchase' these resources. We unfortunately still have an obsession with placing artificial boundaries on large groups of human beings in the interest of maintaining an antiquated system of economics.
 

DEAD7

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Capitalism, in its purest forum, isn't necessarily a 'bad' thing when defined in the context of 'voluntary' trade. However, what we have today is more of a neo-fascist/plutocracy than anything else. This ultimately leads to a form of structural violence that most anarchists don't really want to discuss when truly analyzing the 'non-violent' principal.

I think what Iakinta is alluding to is the reality of structural violence, which is an inevitable byproduct of a hierarchical system based on profit incentive. You will fundamentally have interest groups who make decisions based on capital gains, rather than on empowering, educating, and nourishing humans and/or prioritizing the preservation of the earth's biosphere.

The other, more pressing issue is the paradox, or contradiction of capitalism itself. In a technologically advanced society abundance is almost unavoidable. Abundance is anathema to a free market/capitalist system which requires scarcity. In this day and age of recession, manufacturers are scrambling to automate, which in turn will eliminate more jobs, and subsequently eliminate the purchasing power of their consumer base.

There are a lot of variables to consider but I pretty much agree that "capitalism" itself isn't to blame as much as our inability to evolve and adapt alongside technological innovation. A concept such as 'money' is an old world concept which should have waning relevance in a world with increasing abundance. For example, people are suffering in many countries where there is limited access to resources and commodities. Oftentimes, the issue is not whether the resource exists, but whether the country has the necessary capital in order to 'purchase' these resources. We unfortunately still have an obsession with placing artificial boundaries on large groups of human beings in the interest of maintaining an antiquated system of economics.
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Julius Skrrvin

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Domingo Halliburton

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that's a long ass article I only read the first 2 posts.

I like what Summers says and I tend to agree. You want to bring everyone up you don't want to necessarily bring the top down.

However it seems like when top marginal rates were higher the economy does better. How much the two correlate is beyond me.
 

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DEAD7

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@Noah Truth
Could you expand on this?

The other, more pressing issue is the paradox, or contradiction of capitalism itself. In a technologically advanced society abundance is almost unavoidable. Abundance is anathema to a free market/capitalist system which requires scarcity. In this day and age of recession, manufacturers are scrambling to automate, which in turn will eliminate more jobs, and subsequently eliminate the purchasing power of their consumer base.

Abundance/scarcity aren't antonyms in the economic context of scarcity, which just means that resources are finite and have alternative uses, which necessitates choice. So even super abundance still requires choice.

Moreover, even if all goods were in super abundance, and nearly everything was automated, time would still be scarce and choices would still have to be made. So the required scarcity is always present no?...
 

TrueEpic08

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Gonna have to take some time to flip through this over the summer in between everything else that I'll be doing. There's a lot of interesting noise being made about this book (also, TWO books names "Capital" coming out within a month and a half of one another...ain't that something).
 
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@Noah Truth
Could you expand on this?

Abundance/scarcity aren't antonyms in the economic context of scarcity, which just means that resources are finite and have alternative uses, which necessitates choice. So even super abundance still requires choice.

Moreover, even if all goods were in super abundance, and nearly everything was automated, time would still be scarce and choices would still have to be made. So the required scarcity is always present no?...

So I'm specifically referring to tangible objects, not concepts or ideas such as time. Ideas will be something that may very well be scarce but frankly no one can predict the limitations of future computing power. Computers already have the ability to write sports articles among other things. Creativity is also something that I think will become more and more valuable as technology continues to flourish, but that's a whole nother topic in of itself.

I think this video pretty much sums up how I feel about the current economic system, and also answers your questions in more detail. Yeah he's the 'Zeitgeist guy' and there's a stigma around that movement, however baring that, his general criticisms are spot on IMO.


^^ skip to 5:02

Another thing to consider is the advent of 3-D printing technology which will ultimately allow people to clone tangible objects. So I foresee a tangible revolution in the next 10-20 years just like we saw the digital revolution in the 2000s, which completely decentralized conventional business models of the entertainment industry.
 

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Is the comparison between the rich and the poor really the comparison that should be made?
If the gap grows and the quality of life for those at the bottom improves over what it was, wouldnt that be a positive?

:whoa: Not trying to portray the gap as desirable, just questioning if its the gap itself, or the economic condition of those at the bottom that we should be concerned with.

We have almost the same life expectancy of Panamanians and Mexicans (2 year gap) . A lot that is due to the fact there is a gap between the quality of life of the rich and poor. All nation have improved life expectancies but the US is only rising marginally, even when compared to industrialized nations. It is a big problem broski.

Es un problema grande!! Ayeeeeee!
 
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