4 ms·
Saying that regulatory captured capitalism has failed is like putting Michael Phelps in chains, throwing him into the sea and claiming that swimming has failed.
by llcoolv 8y ago
Saying that regulatory captured capitalism has failed is like putting Michael Phelps in chains, throwing him into the sea and claiming that swimming has failed.
- tanderson92 8y agoMarxists would counter that capitalism will lead to a oligarchic elite, or at the very least powerful industries which will seek to influence and capture the political and regulatory system using the excess value taken from labor. So, it's like timing Phelps in the rapids leading to a waterfall and blaming the waterfall only for the rapid plunge.
- llcoolv 8y agoWell. Is that a problem of capitalism? Or the inadequacy of political systems?
- notabee 8y agoPolitical systems depend on power exercised by people to enforce law. When the real power transfers to the wealthy, which in peacetime happens as surely as large masses draw objects into orbit through gravity, they will use that power to draw in even more power and wealth. The only protection is politicians, and other democratic counterbalances like the justice system and the media, acting in good faith. History has shown repeatedly that that cannot be depended on. All it takes is for one generation's politicians to defect for personal gain and the avalanche of corruption starts. Wealth is power, capitalism amasses wealth, and wealth will blindly hoard itself to death. If one wealthy entity abstains, other wealthy entities will grab that power instead, because that power will insulate them from any consequences of doing so. Believing that politicians will ever extricate themselves from the influence of wealth and power by their own volition is ridiculously utopic.
- llcoolv 8y agoI have a question. Why are the justice system and media expected to act in good faith, but industry leaders are expected to be crooks? Nowadays with all the statistics available it holds true for almost every country that politicians, lawyers and journalists are in fact the least trusted people. I think it is for a good reason and it is called inherent hypocrisy. Also, how could two entities be counter-weights to each other if both aim for the same thing - wealth. The only solution I see is to strip all the societal roles, who claim to be driven by good faith, of all property and relationships. But this is even more ridiculous than what we have right now.
- llcoolv 8y agoAlso a Marxist would claim that life is a zero-sum game. In the 21st century is extremely easy even for a small kid to see how this is obviously wrong. With it being a fundamental statement in their philosophy, I don't quite know what to say.
- monocasa 8y agoLife being a zero sum game is not a fundamental part of Marxism.
- tanderson92 8y agoNot to mention that his/her comment does not represent a rebuttal to the Marxist critique, only a critique of marxism itself.
- llcoolv 8y agoReally, then why nowhere in this philosophy creating new value or new means of production is considered? It is class struggle and for someone to have something they must take it from someone else. It is disgusting how pure evil like this is masqueraded as philosophy/ideology.
- monocasa 8y ago> Really, then why nowhere in this philosophy creating new value or new means of production is considered? Uhhh, it is. It's just that those who create new value are the wrokers making that happen, not the holders of capital.