They Don't Really Mean Capitalism

One of the recurring buzz words of the GOP and libertarian wing of the GOP is the word Capitalism. This word is presented as the foundation of "our high standard of living" and "Prosperity." Like most buzz words it has the problem of being meaningless and in that, a lie. They would have you believe that when they say that word, they are talking about the One True Capitalism.

There is not now, nor has there ever been a system of true capitalism. What has existed from the time of Adam Smith's dissertation on the subject is managed capitalism and the word managed is quite important. Smith, himself, stated the unfettered capitalism would be an evil. The GOP does not mean such a thing, they do mean managed capitalism and the argument of how to manage capitalism has been ... well ... nasty since Jefferson and Hamilton went hammer and tongs over it (that argument resulted in Hamilton's death in a duel).

The second the magic word "managed" enters discourse you understand that the system is being rigged. Now since the entire concept of Capitalism depends on just what it says, capital, the system is rigged in that direction so rigging it isn't exactly a strange concept. The Republican establishment knows better but they're entirely happy to have the voters wander in ignorance. They mean managed capitalism quite thoroughly though they'd rather just not deal with that. The question has always been in whose favor the rigging is done.

The entire concept of markets depends on competition and yet capitalism contains within it the seeds of destruction of competition through sufficient acquisition of the assets of a market - yes we call that monopoly. There is nothing inherent to capitalism in corporations or for that matter unions. Both are constructions designed to increase leverage in markets through pooling of resources and both are the results of legislation. Both are products of managed capitalism. Wall Street and Banks are the products of legislation and exist thanks to legislation.

What the GOP wants to hide is that their agenda has spit to do with Capitalism and everything to do with whose favor the system is rigged. That is what the argument is with everybody that supports managed capitalism. Ever since St Ronnie the plutocrats have been winning on class warfare - all the while claiming the "other side" is doing it. As long as shared goals are not present in the discussion managed capitalism does mean class warfare.

Oh sure, like this would make even a dent in a true believer's skull...

I'm not sure the electorate doesn't deserve the crash we're in and a worse one based on the GOPer plutocratic thuggery. I'm not too pleased to know better and get dragged into it anyhow.

(D)s,
Before you get all damned puffed up - there may be a significant difference in how much the two Parties are willing to screw the public, but really...