Is it born to die? If Capitalism in America eventually leads to the workers rising with pitchforks to demand a division of the spoils, are we doing it wrong, or is that just the natural outcome of a system that focuses only on equality of opportunity? The rise of Democratic Socialists (and their less-Democratic brethren) during the 2020 presidential cycle may signal an economic shift that seems to contain the seeds of the demise of a system which has created more food, health, leisure, and happiness than anything the Earth has seen.
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Born to Die: Does Capitalism Contain the Seeds of Its Own Demise?
Is it born to die? If Capitalism in America eventually leads to the workers rising with pitchforks to demand a division of the spoils, are we doing it wrong, or is that just the natural outcome of a system that focuses only on equality of opportunity? The rise of Democratic Socialists (and their less-Democratic brethren) during the 2020 presidential cycle may signal an economic shift that seems to contain the seeds of the demise of a system which has created more food, health, leisure, and happiness than anything the Earth has seen.
10 replies on “Born to Die: Does Capitalism Contain the Seeds of Its Own Demise?”
Well, gents, this was one of the more insightful sessions you’ve had on the subject. Bill’s comment on the inevitability of people getting lazy, and Scotty’s closing comment were spot on. Well done.
The question was answered: yes. But not permanently, as it will re-establish itself over time, because it is a system that works. The better question to me is does socialism contain its own seeds of destruction, and the answer is again yes. Because the reality is that capitalism uses enlightened self-interest to create wealth, whereas socialism creates no wealth at all; it merely redistributes it to force people to be equal and kills all motivation to improve. But socialism, a concept based on envy and emotional thinking rather than rational thought, ignores one central fact which always leads to its disaster: humans cannot get along indefinitely and are naturally greedy. Eventually, one person will get more than someone else, Socialism will not and cannot change this fact of human nature. So eventually a few elites end up in power and they lord this power over others by enslavement to the socialist cause, and no one else is allowed to gain wealth or power to challenge the elite. People being people, they then resist, and since socialism must disarm the people to work, then government force is used to create gulags for resisters and mass graves for those who cannot or will not be assimilated. So, a few rule and the rest suffer what they must…which until, the American experiment, is the same disaster as the rest of history.
I guess because I am a businessman, I kinda get tired of all of the blame being put on the insurance companies high profits and their greed.
I know Bill will tell you he gets to keep all of that money that pours into his site,”NOT!”
Every business has expenses and pays out most all of the income they get to others, to include employees.
I checked the profitability the two of the biggest insurance companies for 2017, Humana and Blue Cross/Blue Shield and they had an average revenue of about 43 billion each in 2017. Out of that they had an average profit of 3.4695 percent. So, take in 43 billion and get to keep about 1.5 billion.
You will find that most large business run on about 2% to 6% profit. And, they have to work hard to maintain that.
So how about we look at what really drives up costs, GOVERNMENT!
As the popular meme goes:
Hard times make strong men
Strong men make good times
Good times make weak men
Weak men make hard times
Rinse, lather, repeat
If you want to know how to keep a “Capitalist” system going (I prefer the term “Free Market” because it is more accurate), all you have to do is look at the Amish/Mennonite/German Baptist communities. Although they overdo the admonition against “vanity”, their strict adherence to “plainness” keeps them from over-spending (money, time or other resources) on frivolities. It encourages contentment with having the necessities of life…which is the best life you could have according to the Bible (Godliness with contentment) as well as other historical precedents. Their emphasis on building community is generally admired by all, but it could not be achieved without their simple contentment with life.
Contentment does not impede curiosity or discovery, only consumerism and jealousy. Contentment makes you able to enjoy the fruits of your industry instead of always being dissatisfied when you reach the stars. And if your labor is only partly successful, you can find contentment in that too because you did your best. In any case, you will be able to enjoy the life that you have no matter what happens.
I think the Hopf quote Steve was trying for, though he got the gist.
“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.”
Have you read “How Liberalism Failed” by Patrick Deneen? By liberal he means classical liberal. It’s in the same vein. I put a review of it in the blog a while back.
An excellent discussion! Bravo! I really enjoyed listening to the viewpoints and thoughts.
Very good discussion from all three of you. This one got me thinking more than usual! 😃
It’s been obvious for years the capitalist model works well… just observe the overweight and lethargic poor of western countries compared to the poor in other countries that don’t follow the model. Bill’s point is right on – we are in new territory with a crisis of abundance.
The question I ask myself is: “what can I do to curb my personal laziness and promote the virtues of capitalism?” It’s a hard question to answer truthfully.
How we save our country, and the model that works so well, is to return to its founding principles of liberty and follow our moral compass. (for those of us who still have one)
Excellent takes, gents!