Adonis Diaries

Posts Tagged ‘ideology of debt

Any more scare-tactics arguments to support failed Capitalism?

Capitalism has always generated massive inequalities, but there were three majors political arguments to counterbalance that fact.

First, trickle-down economics, the idea that if the rich get richer, the poorest layer of society will do better. That’s no longer the case.

Second: capitalism brings stability. Again, no longer the case.

Third: it would accelerate the path of technological innovation. No longer the case. Except when the military contribute its big budget for specific innovation.

So, what’s left for the supporters of capitalism now that all practical arguments are gone?

They have no choice but to revert to purely moral arguments, that is the ideology of debt:
1. (“people who don’t pay their debt are bad”), And entire nations too, in the form of sovereign debt
2. the idea that if you’re not working harder than you would like in a job that you don’t particularly enjoy, then you are a bad person.”

The history of the economy in the USA was based on taking risk and if you go bankrupt, no blame, blemish or financial harassment would accrue to you or your family. You go back and start another business.

This is No longer the case, since financial multinationals is acquiring every business generating any surplus. Especially, overseas and developing States.

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adonis49

adonis49

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