By Shawgi Tell
It is no secret that capitalism has been in trouble for some time. This outmoded economic system constantly increases tragedies and inequalities of all kinds and cannot extricate itself from the perpetual crisis it finds itself in. It is thus no surprise that in the recent period many writers have produced books and articles that discuss alternatives to capitalism.
It is also unsurprising that, in an attempt to prettify, legitimize, and extend the life of this transient economic system, many capital-centered thinkers have put forward various types of “good” capitalisms to disinform the polity. These include:
1. accountable capitalism
2. managed capitalism
3. ethical capitalism
4. progressive capitalism
5. conscious capitalism
6. friendly capitalism
7. people’s capitalism
8. regulated capitalism
9. stable capitalism
10. fair Capitalism
11. sustainable capitalism
12. inclusive capitalism
In reality, these are oxymorons, irrational conceptions, false dichotomies, and apologies for the status quo. They are an attempt to portray capitalism as something other than capitalism - as something desirable and worth preserving. Such descriptors reveal an aversion to theory.
While capitalism has evolved and changed over time, it has always been about major owners of capital exploiting labor-power to maximize profit as fast as possible for themselves, resulting in economic and political power becoming more concentrated in the hands of fewer people. This is what is at the base of the capitalist mode of production. Capitalists cannot accumulate capital without exploiting labor-power, which is the only source of new value. Redistributing profits is not possible without new value produced in the productive sector, simply because what is not produced cannot be distributed.
While capitalists constantly invent new ways to counter the law of the falling rate of profit, there are no new economic models of capitalism per se. The laws of value, accumulation, and profitability all stand; they have not disappeared. Greater monopolization of economic sectors, more “financialization,” casino capitalism, disaster capitalism, and the rise of the so-called “rentier” economy are not new forms of capitalism as such, but direct products of the fundamental contradiction of capitalism between social production and private ownership. “Financialization,” irrational stock market speculations, printing phantom money, and toxic and exotic financial instruments that bear no relationship to the productive sector of the economy are natural expressions of capitalism at a particular stage of economic development, not aberrations or anomalies.
The aforementioned oxymorons and false dichotomies are largely ideological devices which strive to hide the fact that capitalism as a system is exhausted and cannot be “reset,” “renewed,” or “improved.”
As the end draws nearer for capitalism, irrationalism, disinformation, parasitism, violence, and all manner of treachery will intensify. In futile attempts to save capitalism, bizarre ideas and arguments will increase. Twisted logic and absurd statements is all the ruling elite can offer in the final and highest stage of capitalism. The rich are compelled by inexorable circumstances to continue escalating disinformation about capitalism so as to convince people that there is no alternative to this outdated system that cannot provide for the needs of the people. Indeed, major owners of capital and their political and media representatives work hard every day to persuade everyone that, while capitalism is rotten in many ways, it is still “the best” history has to offer humanity. They want everyone to believe that capitalism is the only future for humanity. This is why it is easier for capitalists to imagine the end of the world than it is for them to imagine the end of capitalism. A good example of this retrogressive tendency is the work of Branko Milanovic, a leading “expert” on inequality. Milanovic was a former chief economist at the World Bank. He recognizes that capitalism has serious problems but believes that the task at hand is to “improve” capitalism and make it “sustainable.” Milanovic has no interest in an alternative to capitalism and believes one does not exist.
To be sure, global, national, and local private interests are not going to cede power voluntarily and support an alternative to capitalism. They are not going to suddenly become enlightened and embrace democracy and affirm the rights of all, including the right of the working class and people to reorient the economy to serve society and the people. This is not how things work in class-divided societies filled with many forms of violence, chaos, and vicious rivalries. The rich are concerned only with their narrow egocentric financial interests, no matter the cost to society and the environment. They are opposed to a pro-social agenda that fosters social consciousness, unleashes the human factor, modernizes the human personality, and humanizes the natural and social environment.
In this dangerous context that keeps deteriorating, the working class and people need to become more vigilant, organized, and pro-active in order to fend off present and future attacks on their rights. The working class and people must use well-established methods, as well as new and creative ways to deprive the rich of the power to deprive everyone else of their rights.
A society made up of an empowered polity directing the economy and all the affairs of society is urgently needed, a historical necessity. Decision-making power must not rest with the financial oligarchy if society is to move forward and human rights are to be affirmed. Major owners of capital are unfit to rule and care only about their own narrow economic interests.
The working class and people are not interested in this or that type of capitalism. It is not about “bad” capitalism versus “good” capitalism. The working class and people are the negation of this anachronistic economic system.
People want and need an alternative to capitalism, an alternative to perpetual crisis and instability. At home and abroad, capitalism is certainly working for some people, but not the majority. The need for change that favors the people will intensify as a massive amount of social wealth and power becomes even more concentrated in the hands of a tiny ruling elite. History is demanding new pro-social, human-centered relations free of exploitation and injustice.
Shawgi Tell, Ph.D., is author of the book, Charter School Report Card. He can be reached at stell5@naz.edu
