There is no ethos of capitalism, just exploitative rhetoric. Capitalism is, according to one version of the myth, meant to be fair in that it is (meant to be) a meritocracy. If you work hard, then you will be rewarded adequately. Empirically, this is false. The system does not reward hard work, and in any case, the rewards that actual capitalists reap cannot possibly be achieved by everyone who fulfils the same degree of hard work. Not everyone, no matter how smart and hard-working, can possess the same amount of material wealth as the 90% percentile. There simply isn’t enough stuff. Continue reading “There is No Ethos of Capitalism”
Occasionally I meet people who really love capitalism. They proudly call themselves capitalists. They extol its virtues. They confidently explain to me how capitalism fairly distributes scarce resources and encourages productive competition. They prattle on about something they call “trickle-down economics.” Apparently capitalism is just the best. It makes everyone’s life better (this hyperlink might be a satire. It’s hard to tell with these capitalists). I’m told that if it wasn’t for capitalism, I wouldn’t have a computer or a smartphone and I would have polio. Continue reading “Conversing with Capitalists, Or, I am not a Communist”
If 25% of the content on the Toronto Star website can be viral videos (the Huffington Post’s is around 95%), then I see no reason to continue upholding my self-imposed restriction against reposting videos to my blog. It’s still lazy blogging, but since I realised that no one reads this blog (and, as usual, making this very post an excercise in existential futilism), I am less inclined to care about blogging standards. Here’s a recent video that’s making the rounds of a “conversation” between Kevin O’Leary and Chris Hedges concerning the “Occupy Wall Street” phenomena on the CBC’s Lang and O’Leary Exchange (a transcript of the video can be found here).
Besides this being a somewhat entertaining (though slightly depressing) video, and besides it reconfirming what most people are already certain of, namely, that Kevin O’Leary is a jerk, there are a few other things about this video worth reflecting on.