What disturbs me about Capitalism is that it often makes a virtue out of the worst features of human nature... our greed...our selfishness... our self-interest at the expense of others. More extreme capitalist devotees use it to justify imperialism and exploitation. Is it any surprise that we end up with a destructive (even self-destructive, in the species sense) system if this is what we set out to promote...?

How about a political system based on sharing and cooperation? I wonder how much of the aversion to socialism comes from those who have never shared a cooperative living situation with others? When I was a young adult, it was normal in the Northeast to move (initially) into group households or apartments--share food, rent, utilities--this situation was cheaper than individual living apartments. A necessity for most who were middle-class and below. Maybe that wasn't the case in the South, I don't know.

In any case, a majority of young adults under 30 are sympathetic to socialism now--more so than capitalism, according to Pew polls.

In the early '60's, I and a half dozen other guys rented a house in Iowa City and threw in $5 apiece each week for groceries and misc. We called 0urselves The Co-op and even made the student paper. It was agreat experience and I'm sure it made a lasting impression on each of us . [We even had a little spotted dog we named Odetta Co-op and took her on demonstrations.]

Take a look at the Congressional hearings on Mylan, headed by the daughter of the Senator from West Virginia. The company increased their price for a drug they manufacture by 600%. They were completely unable to explain why. Nevertheless, as a preface to sharp criticism, all the Congressional representatives had to first praise the Theology of Free Market Economics. Such BS.

And now Epipens are failing when needed most because of shoddiness, cost cuts in manufacturing.

"the Theology of Free Market Economics" Great phrase. My favorite, the Mythology of Free Market Economics". There was a time when mythologies were our theologies. Let's relegate free market "economics" to that dustbin of history. It is simply a self serving mythology that some of it's devotees actually seem to believe.

I once heard an old saying, something to the effect of "Wall Street lives on two emotions: greed and fear."

In the spirit of George C!. Thank you.

https://www.youtube.com/wat...

Nick remains stuck in a Capitalist paradigm.
He's not changing any rules.
He's just describing how we got Fascism.

How many people can provide an articulate definition of "capitalism"? I was given a classical definition in college, but an economic system is far more complex and insinuated into culture to easily characterized. The devil is in the details. Underneath the specifics of economic policies I see the complexities of human nature and the age-old problem of the lust for power and domination. The label or theory of particular "ism" or "acy" is less consequential than how power is divided in a society. Power tends to corrupt (even for those with "good intentions") and unaccountable (absolute) power corrupts absolutely; the where, when, or who wields it.

A constitutional democratic republic ought to be able to construct a customized economy of its choosing that works reasonably well for all, so long as "government of the people, by the people, for the people " government of the people, by the people, for the people" (all of the people) is consistently the foremost deciding criterion. That would mean reconsidering a whole lot that we now mostly accept as "the way it is". Without a genuine commitment to "liberty and justice for all" (once again the word "all" is critical) any revolution of policy or system, hard or soft, turns out to be meet-the-new-boss, same (or worse) as-the-old-boss so long as we are suckers for "divide and conquer".

It all depends, finally, on who owns the wealth & how political power is distributed.

Agreed, and how widely distributed or concentrated power becomes. The first is consistent with democracy (with constitutional protections for the rights of all, including disadvantaged minorities) while extreme concentration becomes despotism.

That's it exactly. Good comment.

It's comforting to know that Ivanka and Jarred can spend 1 million dollars a year for the next 917 years without having to worry about where their next meal will come from. Billionaire wealth is obscene and should not exist.

Well said. They are criminals that belong in jail.

http://www.ragingpencils.co...

I call it pernicious wealth.

This is an excellent article. Trump and his crooked associates epitomize the worst attributes of parasitic, nonproductive predatory capitalism.

It never ceases to surprise me how the well off "slaves in the masters house" always see things from the masters perspective. They trade in any integrity they had as a working poor just so they can wipe the butt of the 1% and get a seat in the house of the master.

These "slaves in the masters house", the courtiers of the 1%, are the greatest obstacles to economic reform because they defend the broken economic system from which they are benefitting. "Slaves in the masters house" are merely tools of the 1% as a buffer to keep at bay the lower 50% who are the working poor slaves.

While the 49% ("slaves in masters house") keep down and thumb their nose at the 50% (working poor), the 1% are laughing all the way to the bank. The 1% stay the 1% because they are smarter and 10 steps ahead of the 99%.

Yes,Trumpism is crony capitalism in its most egregious form.

Yes, Capitalism must die.
We can do so much better, and we Must-

"The Environment must become our Priority "
Bernie Sanders

socialistalternative.org

Capitalism unbridled also produced Hillary who played so grossly out of both sides of her mouth that when she killed Senator Sanders she won for Trump. I've said for years that there are fundamentals of the system that are rotten.

American has torn down all of the limits and become screaming, foot-stamping infants.

Current trends suggest that if anything, rank and file citizens' needs will continue to be even less respected and served. As in the French Revolution, history has empirically shown that people will only take action when "critical mass" is reached and their collective backs are against the wall.

Everybody talks about crapitalism -- but what is it? (15:13) https://www.youtube.com/wat...

“How can communities rethink ownership to remedy poverty?” (14:56) https://www.youtube.com/wat...

Another disappointing article by Wolff.
One point of agreement is this.
"For politicians, acting as scapegoats for capitalism's systemic dysfunction is especially arduous during its recurring crises. At such moments, they are quick to identify others upon whom to offload as much of their scapegoat status as possible. Likely targets include immigrants, foreigners, religious or ethnic minorities, terrorists and so on. Capitalism's politics turn ugly and can become lethal."

What i find disappoining is the focus on Trump as someone qualitively different from Clinton or other Democratic/Republican politicians (a caveat though about Sanders who even if elected would be effectively shackled by no control over any of the Houses)

" We could finally welcome a more balanced contestation among political movements -- one that includes genuinely different views on capitalism as a system. We could open our minds to the system's problems, and start to create alternatives."

Why didn't you make a start, Dick? Oh, are we supposed to commend you for your other articles and ignore the one where you ignore socialism.

"An adequate politics now requires that political parties endorsing capitalism be supplemented and challenged by those that do not. We need a political debate and contest between those who think capitalism is the best that human society can achieve and those who think we can do better. The continuing, one-sided politics of the Cold War, in which criticism of capitalism has been equated with treason, could then be overcome. We could finally welcome a more balanced contestation among political movements -- one that includes genuinely different views on capitalism as a system. We could open our minds to the system's problems, and start to create alternatives."

Money is capital. There was/is never quite enough, somehow. Paper currency is an I.O..U., a promissory note, a reminder of a DEBT. Those who print these scraps of paper demand from the banks that solid securities be given in exchange (Land, Gold, Silver etc) although, today no guarantees are given that these things of solid value shall ever be returned upon demand of payment. With the printing presses producing I.O.U.s that cannot be "cashed in" or cashed out, so too can the value be manipulated against the holders' advantage.
The psychological influence of being indebted works into the capitalist's game of 'Screw Your Neighbor' ~ Gaining as much as possible while delivering as little as possible. Young children are given Monopoly games to play and prepare for.

I agree that since trump was elected as president the nation as a whole has become aware that big money rules our senate, house, judiciary and presidential offices. So some good came out of this election. That being said we must become very aware of those that we elect from here on out. Get big money, business out of Washington and America will be great again.

"Get big money (and) business out of Washington" and USAmerica will no longer be USAmerica as it was designed and constituted...

That would be a good thing...if it were followed by a sustainable form of Communitarianism...

The Next Financial Collapse Is On The Horizon - And Here’s The Proof
https://www.youtube.com/wat...

Wolff himself points to a subprime bubble in US car loans which is ready to pop.
Hertz is sounding the alarm as their business model reselling rentacars is imploding. Can you imagine the banker dope who would bundle car lot loans?

We also have another real estate bubble on the horizon.

Rent Bubble = Housing Bubble = Rent Bubble: http://www.zerohedge.com/ne...

And they can't declare bankruptcy. Unlike the billionaires, like Trump.

It's quite amazing, this society penalizes the poor and rewards the wealthy thieves.

My life with Liberal Klans in Oregon!!

Arab/Muslim Americans are treated less than animals! We are called Sand N…

We are being prosecuted in a daily basis! High tech lynching, institutionally racism! Especially for Arab women!!

Oregon former late A.G. Dave Frohnmayer had my SS# blocked & prevented me from getting employed, made me homeless and jobless!

He was the one who started & initiated the fraud of taking over our homes!!

His bank robber Rep. Bob Ackerman, Doug McCool and Margaret Hallock hired Scarlet Lee/Barnhart Associates, forged my family’s signature, gave our fully paid Condo to the thief Broker Bob Ogle. And his mom Karen Ogle ” who was working in the USA Consulate in Jeddah, Saudi Arabia 1997-1999 & administered the power of attorney to have my sister signed it and add her son to the deed,”, without my signature!!

Bob Ackerman had never responded to the Summon from the Court, and the sheriff never served him or arrested him either!!

ThIs is what kind of criminal government we have in Oregon!!

I ran five times for public offices! Voter Fraud & Sedition by Lane County government to protect & cover up for the two criminals Frohnmayer & Ackerman!!

Oregon government is complicit with their crimes!!

https://www.facebook.com/gr...

www.davefrohnmayer.com

Please sign petition.

https://www.change.org/peti...

It is, perhaps, instructive to recall that "free market forces" once deemed slavery to be the most appropriate course of action.

They still do.

Capitalism in the homeland inc is a multifaceted cnstruction so woefully misnamed as to only be found somewhere beyond the absurd.

While our economic cinstruct is a problem the larger problem is empire. When citizens finally address that realty the rest will be possible.

I agree. And I think a potential collapse in the environment should be added to our list of colossal issues coming down the pike.

Capitalism speeds collapse and resists any constructive changes.

Yes, how about calling them the 3 E's?
1)environment
2)empire
3)economy

very good

Odd how capitalism is always the bad guy.
Maybe we have a two party system that will never let go of power.
Maybe if hillary and the DNC hadn't screwed bernie he would have one.
Maybe if the media hadn't given trump unlimited air time he wouldn't have won the primary.
Get over it,capitalism is not the only boogie man on the block. There is good old 2 party, dirty sleezey politics.
Which is the problem with capitalism. It's not the system, it's the people.

Do pencils mispell words?
Do cars make folks drive around drunk?
All I am saying is that it is not the system, it's the people. The tool is not the problem, it's the folks abusing it and each other that is the problem.
Socialism, communism, fascism or any other ism isn't going to change anything.
Look at how we treat each other. We do it because that is the way we are wired,it's been that way as long as we have recorded history.
You can blame whatever you want, but that isn't going to reprogram the human psychology.

I think there is primal urge to belong to a larger "family" of like people. Certainly we see that in ethnic discrimination, hatred and genocide, though genitally and practically speaking the scientific differences between races are trivial. Also trivial can be the criteria for bonding, and much of it vicarious. People can become very emotional, sometimes childishly defensive and overbearing, even violent about their indentation with a sports team with whom they have no direct interaction. As a social species, bonding is what we do, in ways that are beneficent as well as others that are destructive, but our "reptile brain" can become convinced that these symbolic differences Trump all else, including one's own life or the lives of innocent others. You would think by now we would have seen more than enough examples of where such emotions lead to be alarmed once we detect the pattern emerging, but since it creeps up on us, not even from behind but within, we are fooled into accepting it; even celebrating our own moral and cognitive decline. I don't claim to be immune to it, and I see flashes of it even from the more enlightened.