290. Capitalism Is Wrong
Ayn Rand says that capitalism is consistent with man’s rational nature. Man's rational nature tells us that living humans exist in God's universe. So, capitalism can be viewed as a system that functions for a union of social humans. Since all social humans in the USA must be protected from free humans, the U.S. colonists accepted the social contract theory of John Locke and his book on The Second Treatise of Government. So, the union of social humans in the USA is divided. The private sector is named Society and is defined by the Declaration of Independence (DOI). The second sector is the public sector. Its name Government and is defined by the Constitution. My research says that the DOI has five laws and that the Constitution has many laws. Some of these laws define the rules of capitalism.
Capitalism is attributed to Karl Marx. However, Marx rarely used the term capitalism. Instead, Marx spoke of the capitalist mode of production, the law of value , the dynamics of capitalism, the creation of goods and services, the extraction of surplus value or profit. Marx's work was primarily authored by Friedrich Engels. Capitalism has been called free enterprise and private enterprise in order to develop rentiers (click) and investors. (click)
Capitalism is an economic system in which capital assets are privately owned and goods and services are produced for profit in a market economy. In a capitalist economy, the parties to a transaction nominally determine the prices at which assets, goods, and services are exchanged. Central elements of capitalism include the process of capital accumulation, competitive markets and wage labor.
Capitalism has existed under many forms of government, in many different times, places, and cultures. Following the demise of feudalism, capitalism became the dominant economic system in the Western world. Later, in the 20th century, capitalism overcame a challenge by communism and is now the dominant system worldwide, with the mixed economy being its dominant form in the industrialized Western world. Economists, political economists, and historians have taken different perspectives in their analysis of capitalism and recognized various forms of it in practice. These include laissez-faire capitalism, welfare capitalism and state capitalism, all characterizing varying levels of state activity and public capital control. A pejorative characterization, crony capitalism, refers to a state of affairs in which insider corruption, nepotism and cartels dominate the system. This is considered to be the normal state of mature capitalism in Marxian economics but as an aberrant state by certain advocates of capitalism.
Laissez-faire economists emphasize the degree to which government does not have control over markets and the importance of property rights. Others emphasize the need for government regulation, to prevent monopolies and to soften the effects of the boom and bust cycle. Most political economists emphasize private property as well, in addition to power relations, wage labor, class, and the uniqueness of capitalism as a historical formation. The extent to which different markets are free, as well as the rules defining private property, is a matter of politics and policy. Many states have what are termed mixed economies, referring to a mix between planned and market-driven elements in an economic system.
Proponents of capitalism argue that it creates more wealth than any other possible economic system, and that its benefits are mainly to the ordinary person. Critics of capitalism variously associate it with economic instability and an inability to provide for the well-being of all people. In contrast to both perspectives, socialists maintain that capitalism is superior to all previously existing economic systems (such as feudalism or slavery) but that socialism can be better than capitalism.
In the 20th century defenders of the capitalist system often replaced the term capitalism with phrases such as free enterprise and private enterprise and replaced capitalist with rentier and investor in reaction to the negative connotations sometimes associated with capitalism. The author Ayn Rand attempted a positive moral defense of laissez-faire capitalism as such but in highly romantic or literary terms that did not stand logical or historical scrutiny.
By contrast, modern welfare economics has produced a number of detailed defenses of the mixed capitalist economy based on public ownership of infrastructure and defense of positive human rights such as housing or education. Amartya Sen in particular, in Development as Freedom, his Nobel Prize winning work, argued that the optimal economic system is a democratic mixed economy with a welfare state.
In practice, all early 21st century developed economies devote 40–60% of their GDP to taxes and the public sector. Those that devote more, such as Scandinavian countries, are also rated the most successful by their citizens, and by measures of economic well-being such as literacy, housing, lifespan, and gender equality. Joseph Schumpeter predicted such a development, considering it to be the result of a compromise or truce between capitalism and democracy.
I conclude that capitalism became of interest to many humans after religions (deism and theism) began to fall apart in the 17th century and many humans were identifying a new God that maintains His universe forever. This new God produced new thoughts in the minds of U.S colonists in 1766. Then, in 1776, the 'capitalism of one People' was made in the USA. Unfortunately, after the assassination of President Lincoln, large families and large corporations emerge and use their capital to control the 'one People' in the USA and other nation.(click)
Since this new God informs us that He has no heaven, God gives all humans a new life after their deaths in the heavens of the universe that God made. So, all children have immortal souls and must receive a new body through a man and woman. But the children of any family cannot be known by their parents. So, parents cannot control the life of any children because God gives all children an infinity of potentials of life. Parents can expect their children to be controlled by them. And parents can expect their children to control other children. These expectations are ungodly. Capitalism is wrong and must be must be redefined. All national debts must be eliminated. And all human life must become equal.
I do not think that rich people, rich families, dictators, and Kings and Queens should control the people of any nation.