TheCrusader
Member
- Dec 30, 2015
- 682
- 43
- 18
Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration. - Abraham Lincoln
Read more at Abraham Lincoln Quotes at BrainyQuote.com
Definition: Capitalism -
Capital is owned by a class called the "Capitalist" class, and power rests with them and theoretically the middle class which is co-opted.
An example of a purely Capitalist society would be the Slave South, In the SLAVE SOUTH all the means of production were privately owned, governments were small and non-interfering into the all powerful plantation owner and his personal law over his property, a small few owned all the means of production.
No one would confuse the Slave South with a prosperous country:
90% of all antebellum Southerners were poor, and unable to find gainful employment.
Conservatives have a hard time actually explaining anything, but I won't put words in their mouth, I'll start the discussion by giving a short explanation of where "wealth and prosperity actually comes from".
Historians call it "effluence", political theorists have written thousands of pages on country's "take-offs". One thing is certain, it doesn't matter what socio-economic model you have, wealth and prosperity is possible in any of them.
The Soviet Union was the world's 2nd largest economy, and had the world's 2nd highest per-capita between 1950-1973, after which declining oil prices, and rising demands of an arms race began to degrade their civil-sector economic growth. Chernobyl's destruction of 25% of all USSR Wheat production and $4 Trillion dollar clean-up price tag (in 2015 dollars) didn't help things either.
China is still Communist with state-owned enterprises still leading an economy experiencing 6.9% growth and the largest growth of middle class the world has ever seen.
Where does "wealth and prosperity" actually come from?
Well in short, it comes from monetizing goods and services.
If you can convert a bushel of wheat into money, you've effectively monetized a commodity, which increases the amount of capital in circulation. It doesn't matter if a society is capitalist or communist. If you can monetize a commodity you can convert it into Capital.
What is capital?
Capital is various things, in the 1800s and early 1900s it would have been easily defined as "Means of Production" so factories, tools, mines, farms, things of that nature. But today we've been able to liquidate capital (Monetize the means of production) so in the modern world Capital is largely "money".
Money allows you to represent the means of production, or other things less productive like consumer goods.
Conclusion:
So now that we have established some examples of wealthy non-Capitalist societies, now that we have a working definition of Capital and Capitalism, and a basic illustration of how wealth is created (it is goods and services monetized and therefore liquid and portable to anyone who can accumulate it), I challenge conservatives or anyone else to explain how "Capitalism" is responsible for wealth and prosperity?
What causes wealth and prosperity?
Efficient means of monetizing goods and services, and a broad mechanism for distributing that money to the masses of all society.
A capitalist society is TERRIBLE at accomplishing this task.
Read more at Abraham Lincoln Quotes at BrainyQuote.com
Definition: Capitalism -
Capital is owned by a class called the "Capitalist" class, and power rests with them and theoretically the middle class which is co-opted.
An example of a purely Capitalist society would be the Slave South, In the SLAVE SOUTH all the means of production were privately owned, governments were small and non-interfering into the all powerful plantation owner and his personal law over his property, a small few owned all the means of production.
No one would confuse the Slave South with a prosperous country:
90% of all antebellum Southerners were poor, and unable to find gainful employment.
Conservatives have a hard time actually explaining anything, but I won't put words in their mouth, I'll start the discussion by giving a short explanation of where "wealth and prosperity actually comes from".
Historians call it "effluence", political theorists have written thousands of pages on country's "take-offs". One thing is certain, it doesn't matter what socio-economic model you have, wealth and prosperity is possible in any of them.
The Soviet Union was the world's 2nd largest economy, and had the world's 2nd highest per-capita between 1950-1973, after which declining oil prices, and rising demands of an arms race began to degrade their civil-sector economic growth. Chernobyl's destruction of 25% of all USSR Wheat production and $4 Trillion dollar clean-up price tag (in 2015 dollars) didn't help things either.
China is still Communist with state-owned enterprises still leading an economy experiencing 6.9% growth and the largest growth of middle class the world has ever seen.
Where does "wealth and prosperity" actually come from?
Well in short, it comes from monetizing goods and services.
If you can convert a bushel of wheat into money, you've effectively monetized a commodity, which increases the amount of capital in circulation. It doesn't matter if a society is capitalist or communist. If you can monetize a commodity you can convert it into Capital.
What is capital?
Capital is various things, in the 1800s and early 1900s it would have been easily defined as "Means of Production" so factories, tools, mines, farms, things of that nature. But today we've been able to liquidate capital (Monetize the means of production) so in the modern world Capital is largely "money".
Money allows you to represent the means of production, or other things less productive like consumer goods.
Conclusion:
So now that we have established some examples of wealthy non-Capitalist societies, now that we have a working definition of Capital and Capitalism, and a basic illustration of how wealth is created (it is goods and services monetized and therefore liquid and portable to anyone who can accumulate it), I challenge conservatives or anyone else to explain how "Capitalism" is responsible for wealth and prosperity?
What causes wealth and prosperity?
Efficient means of monetizing goods and services, and a broad mechanism for distributing that money to the masses of all society.
A capitalist society is TERRIBLE at accomplishing this task.