this section is not done yet be patient and come back later

Maybe it's because I was never that interested in math, but examining and analyzing economics is tricky. There are so many factors at play besides the economic theory itself - the government, the implementation of the theory, the time period, the country's past, the current ruler(s) or leader(s), and so much more. Often times you can't separate a government from an economic theory, making it hard to determine if it's the theory itself that is highly flawed, if the implementation is flawed, if it's the government that's flawed, thus making the theory flawed as a result, the time period that makes the theory look flawed, et cetera. But what I do think is true is that due to theis variety of factors there is no one size fits all economic theory, nor one economic theory that is always beneficial in every possible scenario and clearly always effective. Strictly capitalism will not always be an effective economic system just as strictly socialism will not always be an effective economic system. I would relate this to schemes and playbooks in football. There is not one scheme or playbook that is some cheat code that is always effective and beneficial. The success of a scheme or playbook is highly dependent on a multitude of factors: what players you have, the player's ability and talent level, the player's familiarity with the scheme or playbook, how the scheme or playbook is implemented, the opponent, the history of the players in the scheme, the current state of the league, and more. It's impossible to say on scheme or playbook (unless you're playing Madden 20, 21, or 22) is the best all the time.

Capitalism kind of

I'll be the first to admit, as I am currently doing, that my knowledge on economics and economic theories pales in comparison to my knowledge on the other topics and issues on this website. However, since I live in a country that has been capitalist for over 200 years - America - I am aware of a variety of criticisms and critiques of the system. Now you may be wondering, "why aren't you critiquing socialism too??!?!?!?" Well as I have already said, I live in a country that has been capitalist for a while. When and if America becomes socialist I'll be invested in criticisms and critiques of that as well.

Other countries do the "American Dream" better - the US ranks 27th in social mobility, not even cracking the top 10.

Marjorie Taylor Green critiques capitalism thinking it's socialism. I say this is a critique of capitalism considering

Oh and there's that big tech thing she and others like her complain about. So everything she is saying will happen under socialism - only a small amount of people that control everything and a large part of the population being poor - is currently happening in America under capitalism. This makes voting with your wallet nearly impossible.

Dumb idiots like MTG will also complain about companies selling out to China or relying so much on China. This is a product of capitalism. Appealing to the Chinese market is highly profitable (more on that here and here), especially in movies (Iron Man 3 had a whole extra section added about how great China is to appeal to the Chinese market and Transformers Age of Extinction did a bunch of stuff like that as well with lots of Chinese product placement and apparently pro-Beijing propaganda), and outsourcing labor to places like China that have way less strict labor laws than America will increase profit margins. Both of these things mean companies make more money and making the most money possible/accumulating wealth is a big part of capitalism. Socialism can give Americans jobs while capitalism will outsource those jobs to wherever is offering the cheapest labor.

People like MTG will also complain about "forced diversity" but that's also a product of capitalism. In order to make the most money, a company will want its products to appeal to more and more people - the more people you target with the marketing of your product means more people interested in buying your product, which means more people actually buying your product, which means more money. Cast a wider net, catch more fish. I suppose this could be called "woke capitalism" but in reality, it is just good marketing. By making more people aware of your product and catering to a variety of different people in your marketing you'll get more people interested in your product and more people buying it. So when it became profitable for companies to market to minorities, they did so. And this pissed off a bunch of insecure white people. In this sense, the myth of "white replacement" is a symptom of capitalism because if it becomes profitable to remove all traces of white people from ads and media, a company will probably do so.

Fox News has a guest entrepreneur Jon Taffer on who compares unemployed people to dogs, stating "They only feed a military dog at night, because a hungry dog is an obedient dog. Well, if we are not causing people to be hungry to work..."

This dude is basically saying that they want the population to starve so they'll stay obedient to the ruling class/CEOs/"the wealthy elite." Apparently letting struggling American families starve, or threatening them with starvation, is the best way to get people to work in our capitalist society. To me, his comments relate to the illusion of freedom that capitalism can create. It's said that no one is forced to work, but unless you're part of that "wealthy elite" you'll starve if you don't. Being coerced into work under the threat of homelessness and hunger is apparently "freedom." The YouTuber Vaush (yes I know he is cringe) makes an interesting analogy about this illusion of freedom - skip to 1:37 in this video. It seems that capitalism requires the threat of starvation/hunger or and homelessness to work. That isn't freedom.

free markets and the laissez-faire attitude

If humans weren't such greedy scumbags at times, free markets would be epic. But American history shows that a laissez-faire system leads to horrible working conditions, horrible treatment of workers, discriminatory hiring practices ("Irish need not apply"), and child labor. You may have encountered some of this in school if you read Upton Sinclair's "The Jungle." In his book, Sinclair detailed the appalling working conditions in meatpacking factories that were ridden with disease and generally unsanitary. While a laissez-faire system and a free market are not the exact same thing, they do go hand in hand in some respects in the sense that there is little to no government intervention or intervention by some governing body or authority.

The Library of Congress identifies that the time between 1894-1915 is when many ideas (ideas which were considered progressive at the time) like women in the workplace, reasonable hours, safe working conditions, and vacations were born.

Now, there are elements of a free market that are good - the government should not be telling companies and businesses how much they should charge for their products and services - but a free market with no regulations, as we've seen before, results essentially in slavery as this Reddit post points out (yeah I know, cringe linking to a Reddit post but it does a fairly good job describing what I am referring to). It's also funny that conservatives will acknowledge this (but only in response to black people complaining about racism and past slavery as a pivot or deflection, essentially answering criticism with criticism) but then totally ignore it and pretend it doesn't exist when someone critiques capitalism and unregulated markets.

the "invisible hand" and markets correcting themselves

Adam Smith is known as the father of modern economics and a lot of his work informs America's current economic system. Smith advocated for laissez faire markets with little to no government interruption or regulation because of an "invisible hand" that refers to a market's tendency to regulate itself.

Saying a market will regulate itself is like saying a children will raise itself - yes, in a way it will but it'll become an unhealthy, stupid, terrible person if they even make it to adulthood.

Smith also argued that dangerous or undesirable jobs tend to pay higher wages as a way of attracting workers to these positions, or "jobs with disagreeable characteristics will command higher wages," as this paper puts it. So, if this is true, why is it that retail jobs, jobs at fast food restaurants, janitorial positions and maids and housekeepers, are all some of the lowest paying jobs in America. These all have disagreeable characteristics so why has the market not corrected itself to pay these people more?

an inflated value of hard work

Don't get me wrong, hard work and a strong work ethic are certainly valuable qualities to have but American capitalism exploits them. It seems that American capitalism has instilled a belief in people that in order to acquire or deserve the bare minimum/essentials of life like food, water, shelter, et cetera you have to work your ass off 40+ hours a week. The concept of hard work has been turned into a dick-measuring contest with people comparing how exploited they're allowing themselves to be in order to make ends meet. t's ironic that many of the same people who think a fetus has a right to life for merely existing don't think humans that have been born have this same right and must earn it through working five days a week.

Anyways, what inspired me to write this section was a look at this message/comment board (on a Texas A&M website of all places) after learning about the Pope calling for universal basic income and a shorter working day, among other things. The comments you see below in Figures 1 and 2 in particular really blew me away.

In Figure 1 the commenter calls the Pope lazy for wanting more for less. This underscores my previous comments about the belief American capitalism has instilled in people because working less than the norm is seen as "lazy" and wanting people to be better off financially constitutes some kind of insult. Does this commenter not want more for less and get more value? To me, this is just virtue signaling - this person is trying to show how much of a hard worker they are and how strong their work ethic is by insulting someone who is challenging the norm. However, I'm sure they would rather pay $5 for 12 rolls of toilet paper instead of $8 for 10 of the exact same rolls of toilet paper and not insult an employee for treating people as "lazy" by offering them this deal. I'm sure they shop around for the best value and buy things on sale, making them "lazy" by their own words here.

Figure 2 is just kind of funny because the Pope is essentially saying "hey, we should improve working and living conditions for people" and the commenter labels this way of thinking as a mental disease and the Pope is "terminally stupid." Sheesh.

It’s very confusing that these people are not just arguing against, but insulting those who express a desire for the lives of their own and others to be better and a little easier. Maybe these people are just virtue signaling how hard working they are in respect to other “lazy” people who aren’t willing to work 40+ hours a week to barely afford to feed and clothe themselves, maybe they’re just hoping one day they can be in the power position and become “rich” through exploiting others the way they are being exploited and see progressive ideas as a threat to these goals, maybe they’re just stupid and can’t fathom a life outside of life as they know it, maybe they think these things will only improve life or others and are jealous that others may have a good life, or maybe it’s something else.

watch these videos bro please bro

https://www.youtube.com/watch?v=ejoAG5n19iE

https://www.youtube.com/watch?v=hD784CHYhGM

As per the Economic Policy Institute, CEO pay has increased by 1,322% since 1978 and the ratio between CEO pay and "average" worker pay has skyrocketed since the sixties.

Now, this is not to say that all CEOs and company owners are greed, wealth hoarding turds. These articles more refer to the huge CEOs that raise their pay without compensating the people on the ground - people that should be compensated as well.

Note: "The realized measure of compensation includes the value of stock options as realized (i.e., exercised), capturing the change from when the options were granted to when the CEO invokes the options, usually after the stock price has risen and the options values have increased."

image break

This meme may be horribly cropped but it does represent one of the illusions of free will capitalism can create and how it's basically impossible to vote with your wallet today considering how there are 11 corporations own and control just about everything we buy and the other massive corporations that control huge portions of their respective industries/markets.

Automation and outsourcing reduces manufacturing and labor costs but prices still remain the same. Greed dictates a lot of pricing and there's not necessarily a hard science to it.

Just an interesting take/observation here.

This is a fun reference to the fact that one percent of Americans have more wealth than 80% of Americans combined. Really a country all about "the people."

Just another interesting take.

I include this tweet here because it relates to what I discussed earlier about the illusion of freedom capitalism creates.

I agree with the sentiment expressed in the second tweet - that people hate socialism because they don't know what it is. Most idiots that hate on it do so because they've been conditioned to think that socialism = bad so anything bad is automatically socialism because it's and socialism is bad.

A good meme about how America's capitalist system has its own "social credit points" system.

This meme is really just here because I like the minions and it's absurd.

Just another interesting thought here.

An observation I found interesting.

This is a refence to the common conservative meme that socialism is when no food and the sentiment that free school lunch for children is somehow socialism according to some Fox News people.

This screenshot from 4Chan (yeah I know, cringe) reflects a lot of what I talk about in the "An Inflated Value of Hard Work" section above.

Really nothing else to say here, the tweet says it all. I should also mention that it is only through 40+ years of "earning a living" that people even have the opportunity to retire and fully enjoy the freedoms America supposedly promises. The average person can only fully enjoy life after years of "earning" the right to. I suppose capitalism has brainfucked people into thinking that they must earn the right to live and enjoy their freedoms rather than those things just being rights people have as the Consitution seems to promise. So, should you really have to work to live and have the opportunity to fully enjoy your freedoms?

The 40 hour work week is outdated because it was created at a time when most had the cooking, cleaning, and child rearing taken care of for them.

The 40 hour work week became law in 1940 but it originated back in 1866 when the National Labor Union asked Congress to pass a law mandating the eight-hour workday. The idea was popularized by Henry Ford who, in 1926, adopted a five day 40 hour work week. It was mainly just men working during this time while their wives stayed home and took care of cooking, cleaning, shopping, chores, childcare, et cetera. The median age for marriage in 1940 was 24 for men and today it is close to 30. Same story for women, with the median age increasing since the late 60s. In addition to the increasing median age, the share of never-married adults has been rising and dual-income households have only been increasing since the 40s.

Even if more people got married and they got married at younger ages, like they were in the 1940s-70s, there would not be some other person taking care of cooking, cleaning, child rearing, etc... for them because dual-income households have only been increasing since the 40s. Both people in the relationship would be working 40+ hours a week. This leaves little time to do anything with "free" time because that "free" time must be spent taking care of chores and essentials. This all happens despite the fact that workers are more productive than ever.

This, coupled with the fact that studies like this one from Iceland which found that a four day work week meant "workers experienced significant increases in wellbeing and work-life balance — all while existing levels of service provision and productivity were at the very least maintained, and in some instances improved," show shorter work weeks should be the future.

"you say capitalism bad but have iphone" - shut up

The iPhone is not capitalism. The iPhone is a piece of technology and innovation manufactured by labor. Technology and innovation and labor have existed long before capitalism and will exist long after. Labor made the iPhone, not capitalism. The type of "ism" just determines who gets paid and how the labor is treated.

The technology that makes an iPhone is not inherently capitalist, nor is the technology and innovation that created the iPhone solely reliant on capitalism. Capitalism is not conducive to the iPhone, or innovation in general. Various societies and people have innovated and created new technologies without capitalism. People can be motivated to innovate to just generally improve quality of life rather than just to make a profit. So, the existence of the iPhone is not a product of capitalism. The child workers (Apple relied on this for three years) who are exploited to make the iPhone are products of capitalism. The suicide nets in the apple factories - sweatshops is perhaps a more accurate term - are products of capitalism. The numerous violations of labor laws associated with the production of the iPhone are products of capitalism. The use of forced labor to manufacture the iPhone is a product of capitalism.

education

While this is certainly a very specific and kind of cherry picked example, it's still worth mentioning the differences between how a capitalist views education and how a Marxist (Karl Marx) views education. As you'll see in Figure 3 below, they have two very different takes. John D. Rockefeller once said "I don't want a nation of thinkers. I want a nation of workers," and Marx expressed a much different view. Conservatives often harp on education for "brainwashing" or "indoctrinating" children and say that people should think for themselves, and while this is mainly an excuse for why there are so many more educated leftists than conservatives and why leftist beliefs are more present in academia, it's ironic to think that a very famous American capitalist makes the exact opposite argument.

other


Figure 1

Figure 2

Figure 3