- Joined
- Jun 13, 2019
Alright Kiwis, who's read Adam Smith?
Not going to quote chapter and verse, but, as I understand it, Capitalism was instituted as a response to the concentrated power of feudal aristocratic systems. A bunch of land owners / merchants desired more political power, they took it from various Monarchs, and this resulted in the Capital and Labor classes we know today. Capital is there to manage money / take risks, while Labor is there for the defense of Capital. Labor benefits from the distribution of goods and services within society, while Capital benefits from profits made through economic activity.
For that system to work, a couple things must be true:
1) Capital must be able to profit. Without sufficient protection and reciprocity, economic activity cannot occur.
2) Labor must be able to thrive. When wages dip too close to the cost of living, discontent ensues and economic norms must be renegotiated.
In the US, we have a Constitution with enumerated right that apply equally to both classes. Freedom of Speech is one of them, anyone is free to say whatever is on their mind.
Sort of. Speech comes with a cost, you're not likely to say anything that's on your mind if you can't afford the consequences. You could be the biggest racist in the world, but you are going to think twice about saying something if you know it's going to cost you your job. Same goes with religion. You are not going to count rosary beads at your desk at work if it means not getting that next promotion.
The Constitution guarantees certain rights, and the Government is supposed to be there to ensure they are enforced. There are a lot of examples where people are trying to change that, or at least interpret those rights differently than they have been historically.
Here's the question: how much do your rights mean when you don't have the money to use them? Except for the last few years, there hasn't been a real growth in wages in the US since the 1990s. Offshoring and automation have been eating up our jobs and undermining the very concept of earning wealth by selling your labor. How much do our rights depend on having a strong Capitalist system in place? Could the Bill of Rights theoretically and meaningfully be implemented in a communal society? Is your religion more important than a piece of bread? How would 8 months in isolation affect your answer?
I get the sense society is at a turning point, a lot of people have come to accept globalism as the new norm. In response, some of them have decided to implement Communism, others have decided it's time to roll back relationships with the rest of the world and focus on ourselves for a while. I'm of the opinion a new politics is necessary, one that bridges the gap between these two economic systems, but I really doubt anyone in power today has the vision or will to get it implemented. Suffering will ensue until someone decides to force the issue and a lot of people will be unhappy with the outcome.
Not going to quote chapter and verse, but, as I understand it, Capitalism was instituted as a response to the concentrated power of feudal aristocratic systems. A bunch of land owners / merchants desired more political power, they took it from various Monarchs, and this resulted in the Capital and Labor classes we know today. Capital is there to manage money / take risks, while Labor is there for the defense of Capital. Labor benefits from the distribution of goods and services within society, while Capital benefits from profits made through economic activity.
For that system to work, a couple things must be true:
1) Capital must be able to profit. Without sufficient protection and reciprocity, economic activity cannot occur.
2) Labor must be able to thrive. When wages dip too close to the cost of living, discontent ensues and economic norms must be renegotiated.
In the US, we have a Constitution with enumerated right that apply equally to both classes. Freedom of Speech is one of them, anyone is free to say whatever is on their mind.
Sort of. Speech comes with a cost, you're not likely to say anything that's on your mind if you can't afford the consequences. You could be the biggest racist in the world, but you are going to think twice about saying something if you know it's going to cost you your job. Same goes with religion. You are not going to count rosary beads at your desk at work if it means not getting that next promotion.
The Constitution guarantees certain rights, and the Government is supposed to be there to ensure they are enforced. There are a lot of examples where people are trying to change that, or at least interpret those rights differently than they have been historically.
Here's the question: how much do your rights mean when you don't have the money to use them? Except for the last few years, there hasn't been a real growth in wages in the US since the 1990s. Offshoring and automation have been eating up our jobs and undermining the very concept of earning wealth by selling your labor. How much do our rights depend on having a strong Capitalist system in place? Could the Bill of Rights theoretically and meaningfully be implemented in a communal society? Is your religion more important than a piece of bread? How would 8 months in isolation affect your answer?
I get the sense society is at a turning point, a lot of people have come to accept globalism as the new norm. In response, some of them have decided to implement Communism, others have decided it's time to roll back relationships with the rest of the world and focus on ourselves for a while. I'm of the opinion a new politics is necessary, one that bridges the gap between these two economic systems, but I really doubt anyone in power today has the vision or will to get it implemented. Suffering will ensue until someone decides to force the issue and a lot of people will be unhappy with the outcome.