Monday
Jul132009
Life Inc. Dispatch 08: Capitalism, for Dummies
Monday, July 13, 2009 at 7:32AM | in Books, Life Inc, Video/TV/Movies read Life Inc. - The Book
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Reader Comments (11)
The battery analogy is a really interesting way of looking at the problem... borrowing from the future is really like borrowing from our future expectations and when those expectations dry up so does the artificial gain.
So one solution must be to 'invest' in things of real value like a safe mortgage free place to live and grow food. In other words... a place that would allow each of us to continue to live happily without the need for external economic inputs.
Hmmmmm?
This seems to describe the returns from usury (particularly compound interest) moreso than the more general category of capital.
Capital isn't just money; it's machinery, tools, know-how (intellectual property), these are all 'capital goods' that are made possible from some kind of sacrifice/saving.
Where there is no sacrifice, as in the case of excessive interest/rent on money or the stealing from nature in such as way that it can't replenish itself, then yes, we have every reason to be suspicous. But those things could happen in any other system of allocating resources.
It's just unfortunate that the prosperity capitalism brings also feeds the populist desire for fiat currencies, leading to the financialisation of an economy and delusional speculation you mention.
If 'capitalism' was allowed to be real capitalism, it wouldn't choose to use those fiat currencies.
Interesting analogy with the battery...
Only I think it's not true that nature, or the nature of commerce intrinsically works on the basis of 'you can only get out what you put in'. By specializing in a certain kind of trade, you create bounty; you make more of something than you need as one person.
Maybe the problem then is that the growth model of capitalism isn't in sync with this intrinsic growth model; that capitalism works on the basis of guilt, debt and greed as motivations, instead of heartfelt, creative commitment.
What if we could model that... to me it seems possible.
That's it Steve!
Always good to hear from you!
Stop by the forums at
http://rushkoff.com/forums/bbs/
-mason
I just wanted to say I enjoy the videos, but the interlacing is really bad.
I do tech support for digital video and, while I'm sure you have friends more qualified, I'd be happy to help out if I can.
This video is great because it is so succinct. It's really easy to just say all that to someone in a conversation without sounding like you're preaching. Nice one Doug. :)
Another kernel on the workings of capitalism: when capitalism and the society created to fit capitalism function as intended by those in charge, money makes money. Thus, put a dollar in a bank and a year later it's $1.05 or whatever, without doing anything. Two points: (1) this doesn't just 'happen' -- society and our everyday lives are organized to make this happen. (2) when money makes money, those with the most money[power] make the most money[power]. Thus, when capitalism functions "properly" the 10% of the population that controls about 90% of the wealth reaps a very disproportionate share of the benefit. The bottom line is that capitalism (and, by extension, our society and everyday lives) functions to concentrate money[power] in the hands of the wealthy/powerful.
Hey Brian,
And that five cents is *just one* way to get an unclean cut! The situation is pretty grim....
-mason
That's right Mason -- above the minimal, baseline "interest," money makes money through complicated financial riggings (in both the scam and sailing ship senses) interwoven in every aspect of society and everyday life through colonizing processes of commodification/incorporation. Very grim.
Steven Kruyswijk has an important point that goes a distance in one way to refute Adam. Every major civilisation understood that with very little assistance (or input from humanity) Nature gives in abundance.
Nature also appears to take abundantly. But even nature is not so cruel as man is to man, taking, "sacrificing" and murdering so much.
Further, when we get it right, we have learned from many of Nature's dangers or (i should say) Ways. One of them we have not learned is the myriad upon myriad ways and situations in which living things and systems successfully put on growth. Whether we are talking about Redwoods, the terrain on which they flourished and the climates in which they participated.
Every person would do well to determine where he lives, why and how. There is a lot more here, but my daughter is very talkative this morning!
;-)
-mason
Here is a NYT article on a recent innovation in rigging "the free market" to work for the people with the most money:
http://www.nytimes.com/2009/07/24/business/24trading.html?partner=rss&emc=rss