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Category: Politics

Capitalism
I won’t say that capitalism is bad.

It rewards individual enterprise, after all. It also rewards ingenuity, hard work, and the building of long-lasting, beneficial institutions. Unfortunately, capitalism also rewards greed — more handsomely than all those other things put together. I am willing to say that greed is bad.

What’s so bad about greed? Isn’t it just as good at animating the Invisible Hand that Adam Smith assured us would magically guide the economy toward a good result for everyone? No. They made greed a cardinal sin for a very good reason. It kills any positive motivation (enterprise, let’s say) that might exist alongside it and goes straight for the money. It dictates an all-out, all the time, full-on sociopathic pursuit of personal gain. As with all the other cardinal sins, it will lead you to a bad end.

And by “bad end,” I don’t mean hell. I mean human suffering, and the more greed there is at play, the more suffering will result. In fact, of all the cardinal sins, including wrath, it has the most potential to do harm. Slavery is a prime example. Slave traders certainly make plenty of money, but they also create a lot of human misery. My guess is that they don't care. That is because the traders’ greed has overcome their human decency. I would also argue that most war — the ugliest, stupidest, most destructive thing we do — has greed at its motivational core.

So capitalism has a problem. It incentivizes the most poisonous of all vices. It sews the seeds of its own undoing, cripples the invisible hand, and in the end will bring all of us down. Adam Smith himself recognized this danger. He warned against cartels and monopolies, which are antithetical to the idea of consumer sovereignty that is central to his theories. And he wasn’t even aware of the monstrous corporate “persons” we live with today.

Still, I won’t say capitalism is bad. Instead, it’s more like an undisciplined child, potentially good, but in need of structure and guidance. That leaves us to decide how to provide that structure. For this job, there are two options: Church or State.

I’m not really crazy about either one, but I’ll have to go with State. Church is just too unreliable. With State, assuming it’s a democracy, we have the promise of our own authority written into law. It’s not an ironclad guarantee, certainly, but it is something tangible we can use to defend ourselves from the ravages of greed and the excesses of capitalism.
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No "new normal" for me, this shit ain't normal.
~ MS, Truckee