How Capitalism Profits from Racism

[worldlymrb]

"The history of capitalism can be traced back to early forms of merchant capitalism practiced in Western Europe during the Middle Ages.[1] It began to develop into its modern form during the Early Modern period in the Protestant countries of North-Western Europe, especially the Netherlands and England. Traders in Amsterdam and London created the first chartered joint-stock companies driving up commerce and trade, and the first stock exchanges and banking and insurance institutions were established.[2]"
https://en.wikipedia.org/wiki/History_of_capitalism
"Over the course of the past five hundred years, capital has been accumulated by a variety of different methods, in a variety of scales, and associated with a great deal of variation in the concentration of economic power and wealth.[3] Much of the history of the past five hundred years is concerned with the development of capitalism in its various forms."

Then the Marxist professor who wrote this piece is either a retard or, hoping anyone who reads it is a retard because slavery and racism existed thousands of years BEFORE Mercantilism.

Keep in mind, the very foundation of capitalism is private ownership and free markets. However, neither exist in today's crony democrat/capitalist/socialist rentier society.

 

[georgephillip]

Then the Marxist professor who wrote this piece is either a retard or, hoping anyone who reads it is a retard because slavery and racism existed thousands of years BEFORE Mercantilism.

I'm not sure what this ^ means

Precedents[edit]

A painting of a French seaport from 1638, at the height of mercantilism.
https://en.wikipedia.org/wiki/History_of_capitalism#Merchant_capitalism_and_mercantilism

"The earliest recorded activity of long-distance profit-seeking merchants can be traced back to the Old Assyrian merchants active in the 2nd millennium BCE.[20]

"The Roman Empire developed more advanced forms of commerce, and similarly widespread networks existed in Islamic Nations, but capitalism took shape in Europe in the late Middle Ages and Renaissance.

"However, while trade has existed since early in human history, it was not capitalism."

 

[worldlymrb]

I'm not sure what this ^ means

Precedents[edit]

A painting of a French seaport from 1638, at the height of mercantilism.
https://en.wikipedia.org/wiki/History_of_capitalism#Merchant_capitalism_and_mercantilism

"The earliest recorded activity of long-distance profit-seeking merchants can be traced back to the Old Assyrian merchants active in the 2nd millennium BCE.[20]

"The Roman Empire developed more advanced forms of commerce, and similarly widespread networks existed in Islamic Nations, but capitalism took shape in Europe in the late Middle Ages and Renaissance.

"However, while trade has existed since early in human history, it was not capitalism."

Capitalism isn't all about trade. Hell, even dictators of authoritarian command and control communist countries trade. Capitalism is the private ownership of assets and property that can be traded for profit and benefit of a private individual.

Example: You buy and own a house (asset) for $100k. You trade your house for $200k . You profit $100k.

In a capitalist society, you keep $100k profit and now own $200k

In a socialist/fascist society, you keep $50k and are put on a govt agency (IRS, FHA, SEC, DHS, DOJ) watch list.

In a communist society, the state takes everything and you are sent to a re-education camp or shot.

 

[georgephillip]

Capitalism isn't all about trade. Hell, even dictators of authatarian command and control communist countries trade. Capitalism is the private ownership of assets and property that can be traded for profit and benefit of a private individual.

Capitalism is about privatizing profit and socializing losses and turning some social groups into "shock absorbers" to smooth out the economic bumps capitalism guarantees:

http://www.democracyatwork.info/how_capitalism_and_racism_support_each_other

"Capitalism repurposed race and racism.

"By dividing human beings, conceptually and practically, into intrinsically different subgroups, capitalism's defenders could explain and justify why its economic benefits (e.g. the status of employer rather than employee) and burdens (unemployment, poverty etc.) were so unequally distributed (both within countries and globally).

"Employers, politicians, academics and journalists reinforced the notion that the cause, fault or blame for that unequal distribution lay with racially differentiated characteristics, not with the capitalist system.

"Certain population groups -- conceived as races -- were deemed underdeveloped, incapable, irrational and/or psychologically disqualified in relation to capitalism's productive rigors.

"Such presumed inferiority was then offered as an explanation for why people of some races were rarely employers and, among employees, were those last hired and first fired, poorly paid, ghettoized etc.

"Such races -- often non-whites -- were, in effect, assigned to play the role of shock absorbers in and for capitalist business cycles.

"They still are: A 2016 report from the University of Illinois, using the racialized differentiations, documents how young people of color in the United States continue to face significantly higher rates of unemployment and lower employment per population ratios than young white people do."

 

[worldlymrb]

Capitalism is about privatizing profit and socializing losses and turning some social groups into "shock absorbers" to smooth out the economic bumps capitalism guarantees:

http://www.democracyatwork.info/how_capitalism_and_racism_support_each_other

"Capitalism repurposed race and racism.

"By dividing human beings, conceptually and practically, into intrinsically different subgroups, capitalism's defenders could explain and justify why its economic benefits (e.g. the status of employer rather than employee) and burdens (unemployment, poverty etc.) were so unequally distributed (both within countries and globally).

"Employers, politicians, academics and journalists reinforced the notion that the cause, fault or blame for that unequal distribution lay with racially differentiated characteristics, not with the capitalist system.

"Certain population groups -- conceived as races -- were deemed underdeveloped, incapable, irrational and/or psychologically disqualified in relation to capitalism's productive rigors.

"Such presumed inferiority was then offered as an explanation for why people of some races were rarely employers and, among employees, were those last hired and first fired, poorly paid, ghettoized etc.

"Such races -- often non-whites -- were, in effect, assigned to play the role of shock absorbers in and for capitalist business cycles.

"They still are: A 2016 report from the University of Illinois, using the racialized differentiations, documents how young people of color in the United States continue to face significantly higher rates of unemployment and lower employment per population ratios than young white people do."

Socializing loses is CRONY CAPITALISM.

Crony Capitalism thrives in democratic govts where corruption runs rampant and the state/select corporations consolidate. (Aka Fascism).

True Capitalism will never be a smooth ride because recessions and economic downturns play a important part in making production/investment decisions and the distribution of goods/services as efficient as possible.

Whereas in a command/control socialist economy, (or Crony Capitalism), everything gets distorted, and capital, production and distribution leads to one big malinvestment.

One only has to look at Venzuala as a perfect example of one big Social/Economic Malinvestment<link>

 

[Lukey]

Why would you object to getting a ballot every time you paid your taxes which enabled you to dictate to the government how it spends your money?

Not sure how that relates to my point. Having majority rule decide who pays how much in taxes, in a capitalist system, is like handing the steering wheel to the communists.

 

[Craig]

Capitalism (private ownership), existed way before slavery. And about 6000 years before socialism/communism/fascism.

Southern plantation slave owners and medieval fiefdoms took better care of their slaves/serfs than a democratic collectivist/fascist govt ever will today.

Tribes, the original communities, are more socialist than capitalist.

As to the history, capitalism wasn't in existence until the Middle Ages...and slavery had been in existence for millennia.

 

[Craig]

Not sure how that relates to my point. Having majority rule decide who pays how much in taxes, in a capitalist system, is like handing the steering wheel to the communists.

It may be handing the wheel to communists, but it is not slavery.

The analogy to slavery simply is not effective. For some reason, I can find no empathy to your cause as you sit and pen the same whiny "commies" screed multiple times a day.

 

[Lukey]

Tribes, the original communities, are more socialist than capitalist.

As to the history, capitalism wasn't in existence until the Middle Ages...and slavery had been in existence for millennia.

By choice! No one was forcing anyone to be a part of the "commune" in the pre-civilized period. And, in fact, if you didn't contribute (enough), it was possible you might end up as dinner.

 

[Lukey]

It may be handing the wheel to communists, but it is not slavery.

The analogy to slavery simply is not effective. For some reason, I can find no empathy to your cause as you sit and pen the same whiny "commies" screed multiple times a day.

Yes, because you say so Craig. And I don't come here for your empathy - I come to rub your nose in the many failures of your ideology.

 

[Craig]

Capitalism isn't all about trade. Hell, even dictators of authoritarian command and control communist countries trade. Capitalism is the private ownership of assets and property that can be traded for profit and benefit of a private individual.

Example: You buy and own a house (asset) for $100k. You trade your house for $200k . You profit $100k.

In a capitalist society, you keep $100k profit and now own $200k

In a socialist/fascist society, you keep $50k and are put on a govt agency (IRS, FHA, SEC, DHS, DOJ) watch list.

In a communist society, the state takes everything and you are sent to a re-education camp or shot.

So...you're saying I can't sell my property? Weird. Others around me are selling their property.

 

[Craig]

By choice! No one was forcing anyone to be a part of the "commune" in the pre-civilized period. And, in fact, if you didn't contribute (enough), it was possible you might end up as dinner.

By choice? Ridiculous. No, by circumstance of birth.

As there is little recorded history regarding these initial tribes and their social constructs, there is no reason for you to pretend these tribes have capitalism and killed the "unproductive"...whatever that means.

We do know that "civilization" as we know it, is thousands of years in the future, yet you simply take your "capitalism" and import it to a time that has no economic connection to prehistoric times.

 

[Craig]

Yes, because you say so Craig. And I don't come here for your empathy - I come to rub your nose in the many failures of your ideology.

You fail.

You've had a terrific life...due to these economic policies you rail against.

Yes...because I say so. Isn't that the policy you represent as well?

You used to be more interesting. Now, it's just a droning commie drumbeat and some concept that you...and you alone...know all there is to know about economics and the history of the world.

 

[georgephillip]

Not sure how that relates to my point. Having majority rule decide who pays how much in taxes, in a capitalist system, is like handing the steering wheel to the communists.

Who should determine tax rates in a democracy?

 

[georgephillip]

True Capitalism will never be a smooth ride because recessions and economic downturns play a important part in making production/investment decisions and the distribution of goods/services as efficient as possible.

When and where has "True Capitalism" ever existed?
"The defense industry in the United States is often described as an example of crony capitalism in an industry. Connections with the Pentagon and lobbyists in Washington are described by critics as more important than actual competition, due to the political and secretive nature of defense contracts. In the Airbus-Boeing WTO dispute, Airbus (which receives outright subsidies from European governments) has stated Boeing receives similar subsidies, which are hidden as inefficient defense contracts.[21] Other American defense companies were put under scrutiny for no-bid contracts for Iraq war and Hurricane Katrina related contracts purportedly due to having cronies in the Bush administration."
https://en.wikipedia.org/wiki/Crony_capitalism#In_sections_of_an_economy

 

[Lukey]

Who should determine tax rates in a democracy?

Under the equal protection clause of the US Constitution, the majority should set tax rates, but only as they apply to all equally. This, of course, would preclude a progressive structure, which is at the root of all our taxing/spending problems.

 

[Lukey]

You fail.

You've had a terrific life...due to these economic policies you rail against.

Yes...because I say so. Isn't that the policy you represent as well?

You used to be more interesting. Now, it's just a droning commie drumbeat and some concept that you...and you alone...know all there is to know about economics and the history of the world.

In the past, yes - our problems are all in the future. At current spending and GDP growth rates, our entire system is headed for the trash bin of history. It simply is no longer sustainable. You claim an inability to recognize the signals that this is so, but that doesn't mean they aren't all around us.

I have shown repeatedly how Bushbama's big governmentism is at the root of our (current) economic problems. So yes, I know all that needs to be known about economics (and it comes from Say and Bastiat) - that small government, freer markets, and sound money is the route to widespread economic prosperity. To the extent that you and your ideological soulmates pretend that isn't so, or that we can ignore that and everything will be fine, I will continue to rub your noses in the (copious) evidence that I am right and you are wrong for as long as I can form sentences.

 

[Craig]

In the past, yes - our problems are all in the future. At current spending and GDP growth rates, our entire system is headed for the trash bin of history. It simply is no longer sustainable. You claim an inability to recognize the signals that this is so, but that doesn't mean they aren't all around us.

I have shown repeatedly how Bushbama's big governmentism is at the root of our (current) economic problems. So yes, I know all that needs to be known about economics (and it comes from Say and Bastiat) - that small government, freer markets, and sound money is the route to widespread economic prosperity. To the extent that you and your ideological soulmates pretend that isn't so, or that we can ignore that and everything will be fine, I will continue to rub your noses in the (copious) evidence that I am right and you are wrong for as long as I can form sentences.

You claim an inability to recognize the signals that this is so,...

I know all that needs to be known about economics...


Your nonsense gets sillier everyday...

 

[Lukey]

You claim an inability to recognize the signals that this is so,...

I know all that needs to be known about economics...


Your nonsense gets sillier everyday...

So you say. Until the economy starts responding positively to the big governmentism, I look smarter everyday...

 

[Craig]

So you say. Until the economy starts responding positively to the big governmentism, I look smarter everyday...

So you say...so you say. So you say...

Yes...so I say...just as so you say. This is...not rocket science.

If you're so gd wise and all knowing about economics, "I know all that needs to be known about economics..." you'd be filthy rich and happy about it. You'd be a hedge fund manager or CEO too busy enjoying the yachts and caviar and such associated trappings instead of incessantly braying about your talents here on a minor political forum.

All I can do is read reports that, as always, show a complex worldwide, economy driven by many considerations. You've been shouting the sky is falling for years...but the sky has not fallen. There is a story, a fable, about such constant cries. Perhaps you're familiar with it.