Subj : Re: Recession to Depressi
To   : Kaelon
From : Boraxman
Date : Mon Jul 18 2022 08:57:24

  Re: Re: Recession to Depressi
  By: Kaelon to Dr. What on Sat Jul 16 2022 09:18 am

 > Frankly, this is bullshit.  Our economic system has had numerous safeguards
 > for institutions and corporations - such as the "bailouts" that the
 > government (i.e., taxpayers) ensured that big banks would receive and the
 > even large-scale industrial corporations would receive, when their risky
 > models folded in 2008-2009.  In a true Capitalist system, they should have
 > been all allowed to fail.  Where are your cries for the lame excuses of
 > banks and manufacturing in 2008-2009, or for airlines, commodities traders,
 > and real estate speculators now in the 2020-2022 Pandemic period?
 >
 > Let them all fail.  And then we can talk about the "lame excuses" of the
 > very valid truth that corporations have co-opted our political institutions.
 > This isn't Capitalism, Dr. What.  This is syndicate corporatism.  And that's
 > not what entrepreneurial people and innovators signed up for.
 > _____

This is what Capital wants though.  It wants protection, it wants to use power. Why would people who work with Capital not wan't to rig the system in their favour?  They have the capital and the power, so they can.  You expect them not to?

I don't see a difference between "syndicate corporatism" and "capitalism".  The latter must lead to the former because that is how power is distributed.  Capital, not producers, win the power contests so the state bails them out at the expense of producers.

Capitalism is a lie because most producers are alienated from ownership over their work though the employment contract.  Adam Smith described a system where most people were self-employed, worked for themselves, and were the final recipients of the capital they created.  That is not true today, hence the mess.  That is the problem, not simply 'equity', that a few people in corporations get to speak on behalf of the entire corporation against the labour within the corporation.

Capitalism bifurcates the role of the person as 'citizen' and the person as 'employee', which means economy activity is not directed they way WE want, but they way THEY want.

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