W 6.2 economy and society

 


1. Summary 

Economy has existed with humanity as human always make and trade something.

Lydians used gold and sliver as a currency for the first time and ancient Babylonians made a system looks like a economic system for the first time.

The capitalism has emerged at 16th century. At that time venture capital and stock market were made.

During the industrial revolution Mercantilism was replaced by the free market capitalism. This made the most parts of economy controlled by capital and capitalists who own the capital.

The economic crisis during the 1870-1880s and 1930s made the criticism to capitalism grow.

In modern day capitalism today state do the important role in economy. It prevents monopoly unemployment and inflation that market made.  But mordern day capitalism system also basically ruled by market system and private property.

From the 19th century to present capitalism has been criticized by many people like marx, lenin, Bookchin and more. The reasons for against capitalism is various. Imperialism, social inequality, destruction of environment and so on.

Socialism is a term referring various theories that try to creat system based on public ownership or worker's direct ownership of economy. Many people will imagine former soviet union or China when they hear the word socialism. But there are more forms of socialism than that. The guy like Robert Owen supported "Utopian Socialism". He try to build the voluntary egalitarian community. Another Utopian socialist Saint-Simon imagined socialist world mixed with high technology.

Modern day socialism is based on Marx but not all socialists adapted marx fully. There are some revisionist groups. Social democrats in Nordic europe sometimes classified as socialist but they did not follow marx fully. They allow capitalism economy but they try to reform it. Rather than a working-class revolution.

Austrian economics who believe capitalism deeply. Criticize marx and socialism for various arguments. Hayek said planned economy of socialism will fail because of lack of information. Mise said that state cannot predict price of products.

But after 2008 the wave of socialism is again began in some countries.

2. Discussion 

I personally look economy of Yugoslavia at 20th century very carefully. They are socialist but their socialism was not like soviet union. They have a economic system based on "worker's self management". There is a market economy but the coperations were run by worker's committee. This mixture of system was not perfect but this economic system should be studied more because it can show some answers to improve modern day capitalism.

I like to call soviet like socialism as a "state socialism". It was useful to develop the economy of nation at early days of economy. But as Hayek said the planned economy that run by humans that can make mistake can be failed.

Let's look at Ceausescu's Romania. The socialist Romania was fine place until the 1970s but as Ceausescu and his communist officers predicted world economy wrong they faced severe economic crisis. They thought oil price would be keep rising however it wasn't. They failed to predict economy.

So, State socialism of 20th century cannot be alternative to modern capitalism. It showed it's limitations. (Although some stalinist call themselves as "Marx-Leninist" keep insist this economy was perfect)

However does modern capitalism is the final answer to the humanity? Is this "end of history" as fukuyama said?(even fukuyama said it is mistake of him to said that)

It is not. The capitalist class behind the political power they used economic power to fulfill their agenda. (Leftist president of Mexico Mr. Obrador recently said about this very well)(Yanis Varoufakis is also good author to look)

For example big pharma like Pfizer used African children to their human experiment project(it is not a conspiracy theory) https://www.theguardian.com/world/2011/aug/11/pfizer-nigeria-meningitis-drug-compensation

Bill Gates Foundation is 2nd largest sponsor of World Healthcare Organization. They are controlling the medical policies of world to fulfill their agenda. 

https://www.euronews.com/next/2023/02/03/how-is-the-world-health-organization-funded-and-why-does-it-rely-so-much-on-bill-gates

Capitalism is also responsible for destruction of environment, destruction of human values like morality and destruction of democracy.

The USA the capitalist empire of the world produce largest trash per person. The consumerism made by capitalism is destroying environment. (Search about Jevons's Paradox)

The capitalism make every people to compete against every people many humanistic values are dying for that. And consumerism that capitalism made for sell more product made human into nothing but meaningless consumers. The values of love, religion, sacrifice and so on just used in commercial for sell products. The abstract and high meaning of them are being removed. Even the anti-communist russian novelist solzhenitsyn said it. 

"Destructive and irresponsible freedom has been granted boundless space. Society appears to have little defense against the abyss of human decadence, such as, for example, the misuse of liberty for moral violence against young people, such as motion pictures full of pornography, crime, and horror." Speech at Harvard University

3. Questions 

What kinds of economic system can be alternative for humanity?

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