Home » Economics » Don’t blame capitalism. Capitalism itself isn’t “bad”; it’s the effects that are bad. — Nate Hagens

Olduvai
Click on image to purchase

Olduvai III: Catacylsm
Click on image to purchase

Post categories

Post Archives by Category

Don’t blame capitalism. Capitalism itself isn’t “bad”; it’s the effects that are bad. — Nate Hagens

Don’t blame capitalism. Capitalism itself isn’t “bad”; it’s the effects that are bad. — Nate Hagens

Capitalism has allowed us to throw a two-century party – We trashed the place, drank the booze, burned the furniture — It’s time to wake up, act like adults, and behave responsibly. —

Nate Hagens

“Here in America when bad shit happens, we immediately perceive it as an injustice — it’s not fair or right – and then we logically have to blame someone or something. …. If capitalism is to blame, what is capitalism? Here’s a definition from the IMF [International Monetary Fund]. ‘Capitalism. is an economic system in which private actors own and control property in accord with their interests and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism in the motive to make a profit.’…. Capitalism, on the backs of fossil armies, brought billions of people out of poverty, allowed hundreds of millions of humans to live like kings and queens, and enabled billions of people to be born and live lives on earth by turbo-charging the food supply. It is too weighty and complex of an issue to label as simply ‘bad’ or ‘good. In some ways, complaining about capitalism is a luxury enabled by capitalism. Capitalism itself isn’t bad – the effects are bad. Many of the bad effects aren’t about wealth itself, but wealth inequality, which has ebbed and flowed over thousands of years, but naturally will spike during the highest surplus or monetary surplus representations. …. Any ‘ism’ linked to a culture that extracts carbon 10 million times faster than it was sequestered by nature us going to have disastrous long-term effects. Relative to other ‘isms’, capitalism did it faster…

…click on the above link to read the rest of the article…

.

Olduvai IV: Courage
In progress...

Olduvai II: Exodus
Click on image to purchase

Click on image to purchase @ FriesenPress