Many well-meaning people lament that our economic system is “not working.” But that isn’t true if we apply some historical context. What has capitalism wrought since its earliest days?
Capitalism marches on. And thus housing, because it is a capitalist commodity, has resumed its upward cost, putting ever more people at risk of homelessness, hunger, inability to access medical care and medications, or some combination of those.
The gap between what needs to be done to save the Earth from the environmental disaster of unchecked global warming and what is actually being done continues to widen. Yet another exemplar of this gap is the funding practices of the world’s biggest banks.
More than two years on, it is hard to imagine there could be someone who is not sick of the pandemic. Although we can point to multiple reasons for the inability to bring Covid-19 under control, a prominent factor is corporate greed.
When we think of the coming disasters of global warming, rising sea levels, disruptions to agriculture and disappearing species come readily to mind. We don’t necessarily think of the livability of the Earth’s surface. But if global warming continues to worsen — and every indication is that will be so — there will be places on Earth that could become uninhabitable.
Noting that there is always money to be thrown at the finance industry but little for social needs is by now about as startling as noting the Sun rose in the east this morning. But what is eye-opening is the truly gargantuan amounts of money handed out to benefit the wealthy.
Six years is an eternity in politics. Consider what was common opinion at the start of 2016: That changing demographics in the United States favored the Democratic Party; it would soon be impossible for Republicans to win a national election unless they sharply changed from their primary strategy of sending dog whistles to their base of conservative white people, a dwindling percentage of the U.S. population.
Many people, especially those with eyes open to the ravages of capitalism, know what they don’t want. Fewer know what they do want. That is understandable, given that the task of building mass movements on so many fronts is daunting. But while what is meant by the creation of a better world can’t be precisely the same for everybody, movements nonetheless have to have some basic concepts of what a better world might look like.
It’s no secret that United Statesians are more ignorant of the world beyond their national borders than the peoples of other countries. That ignorance serves a purpose. How can you keep screaming “We’re Number One” and believing you have it better than the rest of the world if you are in possession of accurate information?
Yes, the time for talk is well past and one more report isn’t likely to change minds or induce new action. Nonetheless, it is always useful to have the latest information when dealing with an ongoing emergency. The world’s governments shouldn’t need the latest United Nations report on the state of Earth’s climate to act but if some do care to pay proper attention, the situation is ever more dire.
A crucial argument for the incessantly promoted idea that capitalism will be with us for a long time to come is the idea of inertia in human understanding. Ideas are stubbornly persistent and can only be changed over long periods of time. Slow evolutionary change is the best we can hope for, and the prospects even for that are uncertain and fragile.
Predictions are difficult to make, especially, as the old joke goes, when they are about the future. Particularly fraught have been predictions of the demise of capitalism. Conventional wisdom would have us believe that because capitalism remains the world’s dominant economic system, predictions of the system’s demise are not only wrong, but destined to be wrong in the future.
It is not unusual for critics of United States foreign policy, whether or not they feel free to use the term “imperialism,” to express regret that a previously rational system has soured. Such sentiments are routine for liberals and hardly unknown among social democrats.
The United States government is able to impose its will on all the world’s countries. The rest of the world, even some of the strongest imperialist countries of the Global North, lie prostrate at the feet of the U.S. What is the source of this seemingly impregnable power? Which of course leads to the next question: How long can it last?