By using this site, you agree to our Privacy Policy and our Terms of Use. Close

Forums - Politics Discussion - It's ok to be angry about Capitalism

Bernie Sanders answered questions by students at Oxford 

Bernie has recently published a book "It's ok to be angry about Capitalism" 

Senator Bernie Sanders talks on the billionaire class and speaks blunt truths about the failure to address the destructive nature of a system that is fuelled by uncontrolled greed and rigidly committed to prioritizing corporate profits over the needs of ordinary citizens, few really speak to this issue that affects the planet and all of humanity in public life  

Do you agree with this observation?
Last edited by Rab - on 24 March 2023

Around the Network

I think a better question is, is it ok to not be angry about capitalism? I mean, the thing is the reason for more or less everything wrong in the world. And there's a lot wrong. It'd damn better be ok to be angry about it.



The problem with capitalism right now is that it’s breaking. This is because of failure of democracy and good governance to properly handle it. Critics are generally correct about the larger flaws of capitalism in regards to concentration, and a feedback loop that serves to increase that concentration and control and widen the wealth disparity despite our massive improvements in production efficiency.

But, unfortunately, people and governments are far too susceptible to the lobbying and the PR of wealthy people and corporations.

Using this forum as an example, many posters here have even fallen for Microsoft’s PR. When you have people actually cheering on Microsoft buying up the largest third parties in the industry, then you see a little piece of how capitalism is breaking further and further. And these corporations are able to yank people along by the nose with even relatively braindead PR. The dedicated video game industry is becoming more of an oligopoly than it already is. Worse, because Microsoft is a big tech conglomerate; if the whole dedicated video game industry were to face hard times, Microsoft could pull out entirely without giving much of a damn, because they have Windows.

Last edited by Jumpin - on 24 March 2023

I describe myself as a little dose of toxic masculinity.

mZuzek said:

I think a better question is, is it ok to not be angry about capitalism? I mean, the thing is the reason for more or less everything wrong in the world. And there's a lot wrong. It'd damn better be ok to be angry about it.

Anybody at the top is likely not angry at capitalism.  And blaming almost all the world's problems on capitalism seems a gross exaggeration.  



It's a double edged sword.

One one hand it creates jobs for people who aren't smart enough to create their own income, However as inflation goes up, the workers want to be paid more (understandably) to pay their bills, but there comes a point where businesses then find automation to kill the human factor to offset those raising wages. However by automating things and making them more efficient instead of cost of living coming down, it creates greater profit instead for the owners of these businesses.

But how do you quantify greed? If someone took a huge risk to make something successful should they be punished for it? At the same time if that person fails, they loose everything. On the flip side if a bank is failing then the government just bails them out, how is that fair?

You almost need some sort of tax penalty and reward system in the sense that if you use human labour your tax is A, if you use machines it is B, unless you are able to demonstrate that humanity has benefited from the automation and reduced cost of living has been passed on to the general consumer. If all you did was reduce your expenses to gain higher profits, tax them higher.

At the end of the day, I don't think any model is perfect as it depends on who is in power at the time how much corruption and back handed deals get done. Sadly greed exists everywhere in the world and if there is people dumb enough to exploit that they will.



 

 

Around the Network
Cobretti2 said:


At the end of the day, I don't think any model is perfect as it depends on who is in power at the time how much corruption and back handed deals get done. Sadly greed exists everywhere in the world and if there is people dumb enough to exploit that they will.

It's more as long as there are people powerless enough to exploit, they will be exploited. We're all part of the 10% that have options to choose what to do and where. Half the world's population lives on $6.85 a day or less. You either put up with a sweat shop or don't eat.

We have the luxury to be angry at Capitalism while reaping all the benefits of the exploitation of those without options.



I don't think upper class and a large portion of middle class is that upset with capitalism especially in Western Europe. There are enough social security nets to make it work somewhat well.



Please excuse my (probally) poor grammar

There's many reasons to be frustrated by elements of capitolism and communism. 



If you have money, or at least are good with budgeting I don't think you hate capitalism too much. I know people making seven figures that live paycheck to paycheck, and I known people making $60,000 that are well on there way to retiring early.



Capitalism is necessary imo. As is regulating capitalism. It’s just finding the balance. I’m mostly satisfied with the balance in Europe. Actually I’m a bit right of center here.