What is Capitalism?

[an anarchist]

Capitalism is simply voluntary exchange, nothing more. Why are so many people against it? What is Capitalism to you? To me, it is really simple and not immoral at all. How can voluntary exchange be wrong?

 

[PoetPhilosopher]

Capitalism is simply voluntary exchange, nothing more.

I stopped there.

My view on Capitalism is pretty complex. If I wrote it out, it'd take half a page to a whole page, as well as references and more outside study and sources on the subject than I'm probably willing to do tonight.

But basically, I disagree with you that it's that simple, overall.

 

[Viker]

Neh. There's a little more to it than just free markets, voluntary exchange or what have you. It entails private ownership of means and production, private interests setting prices and, of course, everyone's favorite... profit or privatization of surplus.

This is still as simple as I can make it out. Privatization and profit.

 

[Shadow Wolf]

We had voluntary exchanges long before money and Capitalism.
Capitalism basically boils down to replacing "might is right" with "money is right." And quite pseudo-religious, as well, with the omens and signs that is WallStreet, the priests and nobles that are bankers and CEOs, with those who have lots of money being considered to be good people and in good standings with god/invisible hand/markets.
To bring up WEB De Bios it's a form of slavery and in the words of Dr. Martin Luther King the evils of it are just as real as racism and militarism.

 

[Viker]

I'm a business/economics major, btw. We tend to give morality the boot in economics. Things like economies can be dealt with utilizing ethics and such. Morality, anywhere in economics, are you kidding? Hardcore capitalism and even socialism are amoral. It's about the economy, man.

 

[The Hammer]

 

[Estro Felino]

I am against neo-liberism that is based upon the law of the fittest.

 

[Revoltingest]

Capitalism is simply voluntary exchange, nothing more. Why are so many people against it? What is Capitalism to you? To me, it is really simple and not immoral at all. How can voluntary exchange be wrong?

This won't go well.

 

[Revoltingest]

To bring up WEB De Bios it's a form of slavery and in the words of Dr. Martin Luther King the evils of it are just as real as racism and militarism.

Fools who offer no better alternative.
BTW, King was no doctor.
Going to college to study sky fairies is bogus.

 

[Shadow Wolf]

Fools who offer no better alternative.

I really wouldn't call them fools.

BTW, King was no doctor.

He put in the work, he earned the degree, thus he earned the title.
Having to be an MD in a new and very weird thing, and they've always been called physician until more recently. And it refers to Ph.D. holders.
Doctor of Philosophy - Wikipedia

Individuals who have earned a Doctor of Philosophy degree may, in many jurisdictions, use the title Doctor

Going to college to study sky fairies is bogus.

What's bogus is trying to dictate who can and cannot use a title despite the person earning the privilege and right to use it.

 

[osgart]

Capitalism is simply voluntary exchange, nothing more. Why are so many people against it? What is Capitalism to you? To me, it is really simple and not immoral at all. How can voluntary exchange be wrong?

It's in the way that it's used. Without rules the game gets rigged. Working and earning isn't necessarily rewarded. Most people pay out what they take in. It's very easy for monopolies to form. Under capitalism without rules or legal recourse oppression and slave wages occur.

Ideally the earners would be empowered and prosperity would align with job necessity and performance.

Entrepreneur's know how to manipulate the system and maximize oppressive advantages over the workers.

Capitalism is like playing basketball without referees, and no rules committee. Capitalism without rules is how to exploit resources, and build monopolistic empires with an oppressive hierarchy. Unchecked capitalism is the fastest way to burn up the Earth's environment and resources.

The freedoms of Capitalism without rules isn't very good. Capitalism with rules can actually work out, but that all depends on the powers that be. Opportunity breeds competition, and wealthy oligarchs don't like that at all. Too much or too little competition is a bad thing.

Capitalism without rules is a power grab that never stops acquiring power, the relentless greed is insatiable. It's king of the jungle basically.

There's no wisdom of using and saving resources for the benefit of earth and society when capitalism has no rules. There's no give back to society. Capitalism is about market domination and exploitation.

Profit and gain is the only mode of operation under lawless capitalism. It's a greed culture.

If someone profits and gains from society it's only right that they give back to society and it's needs proportional to what they make. If people are educated they'll be a lot less inclined to do crime. If people are healthy and educated than there is less drag and cost on society.

Government and capitalism need to strike a balance. Capitalism is self motivated whereas government is the only means we have of being united and other motivated. Right now government is owned by the oligarchs.

People under lawless capitalism are forced to be so self centered motivated. At what brink do we go that we will ever learn as a species not to destroy, but to care for the planet and fellow beings. How we treat each other is going to determine if we go extinct or not. Capitalism needs checks and balances just like everything else.

 

[Nakosis]

Capitalism is simply voluntary exchange, nothing more. Why are so many people against it? What is Capitalism to you? To me, it is really simple and not immoral at all. How can voluntary exchange be wrong?

Beside the freedom to own property it also is the freedom to gain as much wealth as one is capable of.

Unfortunately, not everyone is as equally capable because of educational, cultural reasons. Therefore you have governmental social programs to assist those below a certain level of capability.

(Also should add mental/physical reasons)

Since the government has to support itself along with it's social programs it taxes those capable of generating wealth. The amount of taxation is usually in contention. Ideally the taxes are enough to support the needs of the government and and whatever they decide is a minimum level of societal support without interfering with the ability of the individual to continue to generate as mush wealth as they are capable of. The government needs to encourage wealth generation that is in a healthy manner and discourage wealth generation that is in a self destructive manner so that it can continue to support itself and it's social programs.

 

[RestlessSoul]

Capitalism is simply voluntary exchange, nothing more. Why are so many people against it? What is Capitalism to you? To me, it is really simple and not immoral at all. How can voluntary exchange be wrong?

Not easy to define capitalism in a few words. How does ‘voluntary exchange’ account for the profit motive, surplus production, the concentration of wealth in the hands of a few, or the observation that the worker has nothing to exchange but his labour?

 

[an anarchist]

profit or privatization of surplus.

profit motive, surplus production

Can you elaborate on these concepts? Why are they negative?

 

[RestlessSoul]

Can you elaborate on these concepts? Why are they negative?

Who said they were negative? Personally, I’d say they were problematic for a number of reasons, but that’s not to say the problems are insurmountable.

Put simply, capitalism allows - indeed, encourages - private owners of the means of production, distribution and exchange, to profit from the labour of others. If I invest money in an enterprise, with the intention of taking out more than I put in, where does the take-out come from? It comes from someone else’s hard work.

 

[RestlessSoul]

Bit lazy this, but I just came across it and it seems appropriate

 

[Shadow Wolf]

It's in the way that it's used. Without rules the game gets rigged. Working and earning isn't necessarily rewarded. Most people pay out what they take in. It's very easy for monopolies to form. Under capitalism without rules or legal recourse oppression and slave wages occur.

Ideally the earners would be empowered and prosperity would align with job necessity and performance.

Entrepreneur's know how to manipulate the system and maximize oppressive advantages over the workers.

Capitalism is like playing basketball without referees, and no rules committee. Capitalism without rules is how to exploit resources, and build monopolistic empires with an oppressive hierarchy. Unchecked capitalism is the fastest way to burn up the Earth's environment and resources.

The freedoms of Capitalism without rules isn't very good. Capitalism with rules can actually work out, but that all depends on the powers that be. Opportunity breeds competition, and wealthy oligarchs don't like that at all. Too much or too little competition is a bad thing.

Capitalism without rules is a power grab that never stops acquiring power, the relentless greed is insatiable. It's king of the jungle basically.

There's no wisdom of using and saving resources for the benefit of earth and society when capitalism has no rules. There's no give back to society. Capitalism is about market domination and exploitation.

Profit and gain is the only mode of operation under lawless capitalism. It's a greed culture.

If someone profits and gains from society it's only right that they give back to society and it's needs proportional to what they make. If people are educated they'll be a lot less inclined to do crime. If people are healthy and educated than there is less drag and cost on society.

Government and capitalism need to strike a balance. Capitalism is self motivated whereas government is the only means we have of being united and other motivated. Right now government is owned by the oligarchs.

People under lawless capitalism are forced to be so self centered motivated. At what brink do we go that we will ever learn as a species not to destroy, but to care for the planet and fellow beings. How we treat each other is going to determine if we go extinct or not. Capitalism needs checks and balances just like everything else.

I would argue if we are to preserve the Earth, properly manage the resources and minimize total suffering to life then Capitalism can't function as the drive for more is effectively removed because it is incompatible with properly caring for this Earth and all we share our Home with. And without being able to endlessly consume more and more the profit motive is diminished, consumerism is obliterated and stores aren't stuffed with junk that will be wasted and unused. Food is locally grown and sourced which further damages the gears of Capitalism when we aren't so far removed from food production we can view it as a commodity no different than a TV or comforter set.

 

[lewisnotmiller]

Capitalism is simply voluntary exchange, nothing more. Why are so many people against it? What is Capitalism to you? To me, it is really simple and not immoral at all. How can voluntary exchange be wrong?

Voluntary? I'm not sure that's necessarily true, even if commonly true.

 

[lewisnotmiller]

Capitalism is simply voluntary exchange, nothing more. Why are so many people against it? What is Capitalism to you? To me, it is really simple and not immoral at all. How can voluntary exchange be wrong?

I'm not sure it's so much the immorality of capitalism that is the issue. More like the amorality. That is why societies don't run with 'pure' capitalism, but instead use various social programs and regulations to mitigate against the worst excesses of an unfettered market.

So...does capitalism have a place? It would seem so. Is it effective in all cases without regulation or control? It would seem not.

 

[Secret Chief]

Capitalism is simply voluntary exchange, nothing more.

Wrong. "Capitalism is an economic system based on the private ownership of the means of production and their operation for profit."

Thanks wiki.