How Capitalism Profits from Racism

[Lukey]

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.

Economics and "investing" are not the same thing. And, unfortunately, I came into my knowledge a bit late in life. Too late to get rich from it. So I do what I can to impart as much as possible to the denizens of this forum.

As for my "shouting" - I believe I have been on record for some time now that the economy will not recover as long as Obama is still running his anti-capitalist administration. And it appears I was 100% right.

https://www.bostonglobe.com/opinion/2016/01/06/the-obama-recovery-has-been-weakest-ever-should-have-been-strongest/aOpf5ZO3ToyQlBUl1mb5pI/story.html

http://www.theatlantic.com/politics/archive/2016/02/america-economic-outlook-heartland/458727/

http://www.newyorker.com/news/john-cassidy/how-will-the-lost-decade-play-out-in-2016

I'm sure you will dive in there and find the quotes attributing the lack of recovery to any and everything but the Obama anti-capitalist agenda, but the fact remains that I said it wouldn't recover under Obama's policies back when those idiots were all saying recovery was "just ahead" year after year. I was right then and I am right now.

 

[Craig]

Economics and "investing" are not the same thing. And, unfortunately, I came into my knowledge a bit late in life. Too late to get rich from it. So I do what I can to impart as much as possible to the denizens of this forum.

As for my "shouting" - I believe I have been on record for some time now that the economy will not recover as long as Obama is still running his anti-capitalist administration. And it appears I was 100% right.

https://www.bostonglobe.com/opinion/2016/01/06/the-obama-recovery-has-been-weakest-ever-should-have-been-strongest/aOpf5ZO3ToyQlBUl1mb5pI/story.html

http://www.theatlantic.com/politics/archive/2016/02/america-economic-outlook-heartland/458727/

http://www.newyorker.com/news/john-cassidy/how-will-the-lost-decade-play-out-in-2016

I'm sure you will dive in there and find the quotes attributing the lack of recovery to any and everything but the Obama anti-capitalist agenda, but the fact remains that I said it wouldn't recover under Obama's policies back when those idiots were all saying recovery was "just ahead" year after year. I was right then and I am right now.

You've posted the Atlantic article previously. The "Heartland"...is not "the economy".

Opinions...are just that.

 

[Lukey]

You've posted the Atlantic article previously. The "Heartland"...is not "the economy".

Opinions...are just that.

Opinions are...evidence. The people seem unable to see the "full and robust" recovery the President keeps taking credit for:

http://www.zerohedge.com/news/2016-04-28/obama-admits-couldnt-convince-americans-recovery-bashes-big-short

 

[Sgt Staples]

If Marxist professor RD Wolff is correct when he claims, "(c)apitalism's supporter use and benefit from a racism whose practice and consequences should be blamed on capitalism itself," then it follows "(r)acism persists in no small part because its benefits to capitalism outweigh its costs."

http://www.democracyatwork.info/how_capitalism_and_racism_support_each_other

"We know how and why racism worked often to support slavery around the world and especially in the early United States. Masters endorsed and promoted ideas that justified slaves as subordinated because they were an inferior race. Racist ideology also sometimes supported feudalism by dividing lords and serfs into different races. Indeed, some early capitalist systems likewise racially distinguished employers from employees..."

"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."

No one claims capitalism is the only cause or source of US racism, but ignoring or minimizing its role only perpetuates its existence in the "free" world.

Right, capitalism causes slavery, while godless communism and socialism don't.

In fact, godless communism and socialism make everyone the slave of a big fat bloated controlling entity that brings everyone in the "collective" down to the lowest common denominator as history has shown over and over and over again.

 

[Craig]

Opinions are...evidence. The people seem unable to see the "full and robust" recovery the President keeps taking credit for:

http://www.zerohedge.com/news/2016-04-28/obama-admits-couldnt-convince-americans-recovery-bashes-big-short

Opinions from partisans are, exactly, just that.

 

[Drumcollie]

Capitalism isn't a lefty/righty thing.
It's a morality thing.
http://www.democracyatwork.info/how_capitalism_and_racism_support_each_other
"Capitalists never could end their system's tendency to generate gross inequality (in wealth and income distributions) nor its instability (in cycles of depression and recession). Both those features of capitalism have contributed to ongoing social injustice and oppositional social movements. Had the heavy burdens of recurring business cycles (periodic unemployment and its multiple consequences) been distributed roughly equally or randomly across societies where capitalism prevailed -- threatening and frightening everyone -- those oppositional movements might well have gathered the broad support needed to consign capitalism to an early demise."

WAAAAAH Waaaaaah Waaaaah

Here the social injustices of capitalism

1. Democrats are lazy and can't keep up...so they whine of social injustice, because lefty believes the lies they were told about how they can't have.

2. Welfare drains the system and capitalism creates the revenue needed for welfare...can'y do it in a social...errrr communist structure

3. It true that most democrats do need a communist...err someone else tells me what to do structure...because they can't think for themselves. That's why they can't post a thought themselves it's a copy of another work to explain why they cannot work.

4. The leftist leaders who get your votes, the Pelosi's the Maxine Watter's, The Al Gores, the Clinton's, Lincoln Chafee, John Corzine, Al Franken, John Kerry, Robert Reich, Arlen Specter are all millionaires plus benefiting from capitalism...yet think you should be broke.

5. Capitalism has created the standard of living no social/commie govt could ever create. You don't need a better cell phone...but capitalism creates that need...When you look at the percentage of poor people with cell phones...you know the being poor is just a choice. And who doesn't have a smart phone these days.

I could go on all day...but lets just say that lefty who is naturally wrong on this issue, and this issue is how do I take the ability away from the poor and create dependence on government.

So if you disagree...why don't you formulate your own opinion and explain.

6.

 

[Drumcollie]

Right, capitalism causes slavery, while godless communism and socialism don't.

In fact, godless communism and socialism make everyone the slave of a big fat bloated controlling entity that brings everyone in the "collective" down to the lowest common denominator as history has shown over and over and over again.

Slavery has been a hallmark of the democrat since the party began.

 

[Drumcollie]

Opinions from partisans are, exactly, just that.

You mean opinions from Obama hacks....

 

[Arkady]

If Marxist professor RD Wolff is correct when he claims, "(c)apitalism's supporter use and benefit from a racism whose practice and consequences should be blamed on capitalism itself," then it follows "(r)acism persists in no small part because its benefits to capitalism outweigh its costs."

http://www.democracyatwork.info/how_capitalism_and_racism_support_each_other

"We know how and why racism worked often to support slavery around the world and especially in the early United States. Masters endorsed and promoted ideas that justified slaves as subordinated because they were an inferior race. Racist ideology also sometimes supported feudalism by dividing lords and serfs into different races. Indeed, some early capitalist systems likewise racially distinguished employers from employees..."

"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."

No one claims capitalism is the only cause or source of US racism, but ignoring or minimizing its role only perpetuates its existence in the "free" world.

I can definitely see how capitalism played a role in developing racism, in the context of slavery: without an idea that some races are inferior to others, it would have been difficult to justify what was, for many, an immensely profitable enterprise. But I think capitalism is amoral and, will just as soon push in an anti-racist direction, when that's viewed as profitable. For example, you can see a real effort by businesses to combat racism within their ranks, based on the idea that racism ultimately hurts their bottom line (for example, if you're perceived as racist, it can hurt your ability to attract and retain top-performing workers from racial minority groups, thus putting you at a disadvantage relative to competitors).

 

[georgephillip]

WAAAAAH Waaaaaah Waaaaah

Here the social injustices of capitalism

1. Democrats are lazy and can't keep up...so they whine of social injustice, because lefty believes the lies they were told about how they can't have.

2. Welfare drains the system and capitalism creates the revenue needed for welfare...can'y do it in a social...errrr communist structure

3. It true that most democrats do need a communist...err someone else tells me what to do structure...because they can't think for themselves. That's why they can't post a thought themselves it's a copy of another work to explain why they cannot work.

4. The leftist leaders who get your votes, the Pelosi's the Maxine Watter's, The Al Gores, the Clinton's, Lincoln Chafee, John Corzine, Al Franken, John Kerry, Robert Reich, Arlen Specter are all millionaires plus benefiting from capitalism...yet think you should be broke.

5. Capitalism has created the standard of living no social/commie govt could ever create. You don't need a better cell phone...but capitalism creates that need...When you look at the percentage of poor people with cell phones...you know the being poor is just a choice. And who doesn't have a smart phone these days.

I could go on all day...but lets just say that lefty who is naturally wrong on this issue, and this issue is how do I take the ability away from the poor and create dependence on government.

So if you disagree...why don't you formulate your own opinion and explain.

6.

 

[Drumcollie]

I can definitely see how capitalism played a role in developing racism, in the context of slavery: without an idea that some races are inferior to others, it would have been difficult to justify what was, for many, an immensely profitable enterprise. But I think capitalism is amoral and, will just as soon push in an anti-racist direction, when that's viewed as profitable. For example, you can see a real effort by businesses to combat racism within their ranks, based on the idea that racism ultimately hurts their bottom line (for example, if you're perceived as racist, it can hurt your ability to attract and retain top-performing workers from racial minority groups, thus putting you at a disadvantage relative to competitors).

yep those Democrats are horrible people...good point

 

[georgephillip]

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.

Are you saying progressive taxation is not "fair"?
If so, do you mean it isn't equitable to all parties or that it isn't in accordance with relative merit or significance to society?
Or are you saying you simply don't like it regardless of its fairness?

 

[Lukey]

Opinions from partisans are, exactly, just that.

Yes, and those that go against the grain of "conventional wisdom" tend to be more accurate than those based on the "official" story (propaganda).

 

[Lukey]

Are you saying progressive taxation is not "fair"?
If so, do you mean it isn't equitable to all parties or that it isn't in accordance with relative merit or significance to society?
Or are you saying you simply don't like it regardless of its fairness?

It's not "fair" in the sense that it doesn't apply equally to everyone. It isn't applied equally to every citizen, as the lower income folks have voted for pols who have shifted all the (general) tax burden to the rich.

 

[georgephillip]

Right, capitalism causes slavery, while godless communism and socialism don't.

In fact, godless communism and socialism make everyone the slave of a big fat bloated controlling entity that brings everyone in the "collective" down to the lowest common denominator as history has shown over and over and over again.

Capitalism pretends to support individual freedom, yet capitalism's history continually exhibits both the idea of race and racism.

Do you think it's entirely coincidental the US prison population began to spike around the same time US capitalists began shipping jobs to China?

 

[georgephillip]

It's not "fair" in the sense that it doesn't apply equally to everyone. It isn't applied equally to every citizen, as the lower income folks have voted for pols who have shifted all the (general) tax burden to the rich.

Yet the lower income folks pay a far greater percentage of their incomes in taxes than the richest 0.01%. If your conception of equality means the o.01% of taxpayers pay the same percentage of their income in taxes as the poorest 90% of taxpayers, I don't see how that is possible without progressive income taxes since 47% of taxpayers don't earn enough to pay federal income tax.

 

[worldlymrb]

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.

You're WRONG!

Not that I expected a hard core Marxist as yourself to know what capitalism is anyways.

Definition of Capitalism is the Private Ownership of Property/Assets that can be sold for the benefit/profit of the individual.

Capitalism existed during the Roman Empire and in Athens Greece before them. The Roman senate was comprised of very rich landowners and Rome had many citizens who acquired vast private wealth with private ownership of businesses.

 

[worldlymrb]

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

Just great. Progressives want to reduce us to hunter/gatherers.

Of course collectivism never worked once a tribe/community discovered farming (Agriculture).

 

[Lukey]

Yet the lower income folks pay a far greater percentage of their incomes in taxes than the richest 0.01%. If your conception of equality means the o.01% of taxpayers pay the same percentage of their income in taxes as the poorest 90% of taxpayers, I don't see how that is possible without progressive income taxes since 47% of taxpayers don't earn enough to pay federal income tax.

Not income taxes. Wage taxes weren't designed to support general expenditures, but rather to pay SS & MC benefits, from which the average citizen receives way more in benefits than they ever paid in in "taxes." So that's a negative tax, like the EIC that was implemented to offset the wage taxes of low income workers.

I think we should have a flat consumption tax (VAT maybe) and do away with all income taxes. Then it becomes voluntary in that if you buy something, you consent to paying the tax.

 

[Craig]

You're WRONG!

Not that I expected a hard core Marxist as yourself to know what capitalism is anyways.

Definition of Capitalism is the Private Ownership of Property/Assets that can be sold for the benefit/profit of the individual.

Capitalism existed during the Roman Empire and in Athens Greece before them. The Roman senate was comprised of very rich landowners and Rome had many citizens who acquired vast private wealth with private ownership of businesses.

The world existed prior to the Roman Empire and Greece.