Pick a side.
Filed under Capitalism
Exactly, the laborers created the wealth and turn their work into capital, only to have it taken away by the greedy capitalist. What is a man if he creates something of value then receives a fraction of that value back and immediately spends all that value because he needs to survive. The capitalist takes the excess and gives the lowest acceptable wages for the worker, so the worker keeps working out of necessity and the capitalist grows exponentially.
I’m sure you think that sounded so smart, but sadly it’s not. Let’s take that apart piece by piece.
“Exactly, the laborers created the wealth and turn their work into capital”
no they turn their work into a product. Capital was the idea that created the factory where the product was, capital was the wealth created from wise investment…the capitalist, the one with the idea or the one with the money can often create things without a large labor force (although certainly not as much and not as cheaply due to the economies of scale) but they can create without the help of laborers…if all you can contribute is labor then you can’t create much on your own.
“What is a man if he creates something of value then receives a fraction of that value back” but he didn’t create it. The person with the idea created it. And the person with the idea is the one who is paid. The idea to create the product. The idea to create the factory. The idea on how to efficiently manage organizations. These ideas may not have physical existence, but it is ideas that are worth more than brute force, and it is ideas that contribute to the vast majority of the value. To see something’s value only in terms of the physical labor put into is to reduce man to mindless beast whose mind and ideas are of no value.
“and immediately spends all that value because he needs to survive” Actually if you were only spending on things you NEED to survive (food, shelter, transportation, basic medical care, a few books for entertainment and personal improvement) and didn’t do something stupid like choose to live in an area with an obscenely high cost of living a basic education could net you a job around 30K a year with significant money left over to save and invest. It is that people CHOOSE of their own free will to buy things they want, they CHOOSE of their own free will to buy things they want beyond their means, they CHOOSE to value things over people, novelty over quality, and constant distraction over self improvement. Which is their right. But they do not have the right to escape that their wealth or lack there of is often the result of their choices. Obviously what I have just said is more applicable to developed world than the developing world…but there too the capitalism you are complaining about only helps people earn wealth and stability.
“The capitalist takes the excess and gives” No the capitalist creates the excess, coming up with ideas on how to remake the exact same resources that have alway been available into new ways that are either more useful, more efficient, or more wanted than previously before.
“and gives the lowest acceptable wages for the worker,” Yes they give what the worker is willing to take. It is a choice, a contract made by two people and they both agreed to it. And they both prosper for it. That’s the joy of free market every honest transaction results in BOTH sides gaining.
“so the worker keeps working out of necessity” well again it’s a choice thing. They could invest their money and free time into education, or investment, or innovation rather than things they want and become rich themselves…or they can choose not to. It’s up to them. Depending on the person, the time, the place, and the situation, either choice may be the valid one. But because you can’t say the system is wrong when the it is a person’s choice not the system that results in ends they’re not thrilled with.
“and the capitalist grows exponentially.” Yes, yes they do. Do you see a problem with that? And then they give to charity. They create new jobs. They spread wealth to people and nations that were lacking before. Capitalism has a proven track record of making the rich richer, the middle class richer, and the poor richer. Capitalism and free trade have ALWAYS benefitted everyone.
Oh and thank you for not actually addressing anything in the video above.
Now again I’m sure your Marxist drivel talking point sounded so witty when you wrote, but please, this is blog for thinking people, your naïveté and lack of knowledge about economics, philosophy, history, psychology, and human nature is just sad. Of course if you have facts you would like to offer (not that any exist in this little place I like to call reality) to justify your attack on capitalism, I would love to hear them.
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