Slavery and Free Markets


#1

Continuing the discussion from Pope blasts capitalism:

I mentioned the Invisible Hand because we have been discussing regulation and free markets. The Invisible Hand principle indicates that men are self regulating in their transactions with others. Therefore the Free Market is in fact a highly regulated market at the micro level as every translation is regulated by the participants themselves.

Irony.

Your quote of Smith illustrates the point I made previously; men are not angles which is why many civilizations have consented to form rules/laws and agencies/governments to support/enforce the laws. This is why a perfect free market may not exist on this planet - men are far from angelic.


#2

The question is what kind of economic situation would lead anyone to voluntarily give up all of their autonomy in trade for the barest security? In a system where any substantial number of people would choose that, can you truly consider them free? Because I don’t. Whipping boys for capitalism love to talk about economic freedom, but if you are in a system where people would choose slavery, you don’t have freedom. Can’t you recognize that?

It’s not fucking slavery if you can leave when you want. I can’t believe I had to type that sentence. This is ridiculous.

Capitalism isn’t simply amoral. It’s immoral. In order for capitalism to thrive, it requires that a vast number of people under it be exploited. Yes, exploitation. What is profit? Profit is the extra value derived from the work of workers. Where does that profit go? Not the workers. It goes to business owners and bankers.

Capitalists love to talk about the risk that entrepreneurs take and how it justifies them taking all the profit. What about the risks that workers take? We take jobs we don’t want because we need money and the jobs we do want aren’t available. When we as workers find ourselves in a job where we’re underpaid and abused by our bosses, we have to make a choice. A choice that’s not even a choice: stick around and ruin our health or leave and ruin our health trying to find a new place that’s just as likely to be abusive as the place we left.

Even those who are exceptional in the “Atlas Shrugged” fantasy scenario find themselves strung along with a series of lies and broken promises. No one’s happy, no one’s healthy, no one can thrive … except the capitalists.

How is this freedom?

P.S. To keep this relatively brief, I’ve left out the mass indentured servitude caused by skyrocketing healthcare, housing, education, and debt costs. I’ve only alluded to the extent of the exploitation necessary. I also left out an explanation of the fact that the rich nations only thrive to the extent they do because of its colonialism and exploitation of poorer nations.


#3

Christ on a crutch, again?

No, really, arguments started by obstinate libertarians are, like, the best thing about the internet. Please, start more threads about it. I was worried in case there’d be a fucking shortage of them, or something.


#4

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