By Jeffrey A. Tucker, Brownstone Institute
The word capitalism has no stable definition and should probably be permanently retired. That won’t happen, however, because too many people are invested in its use and abuse.
I’m long over trying to push my definition over someone else’s understanding, generally viewing disputes about vocabulary and dictionary definitions as a distraction against the real debate over concepts and ideals.
The point of what follows is not to define precisely what capitalism is (my friend CJ Hopkins is hardly alone in describing it as once emancipatory but now rapacious) but rather to highlight the many ways in which economic systems of the industrialized world have made a hard turn against the whole ethos of voluntarism in the commercial sector.
Still, let’s pretend we can agree on a stable description of a capitalist economy. Let’s call it the system of voluntary and contractual exchange of otherwise contestable and privately owned property titles that permits capital accumulation, eschews top-down planning, and defers to social processes over state planning.
It is, ideally, the economic system of a society of consent.
This is obviously an ideal type. So described, it is inseparable from freedom as such and forbids state planning, expropriation, and legal privileges for some over others. How does the status quo match up against that? In uncountable ways, our economic systems utterly fail the test, with all the results that one would expect.
Author Jeffrey A. Tucker of Brownstone Institute
What follows is a short list of all the ways in which the US system does not comport with some ideal type of capitalistic marketplace.
1. Governments have become a main customer of tech and media platforms, instilling an ethos of political deference and cooperation, resulting in surveillance, propaganda, and censorship. This happened gradually enough so that many observers simply did not notice the turn. They held onto their reputation as go-getting capitalist companies even as one platform after another fell to become minions of state power. It began with Microsoft, extended to Google, came to Amazon with its web service in particular, and made its way to Facebook and Twitter, even as taxes, regulations, and intense enforcement of intellectual property consolidated the entire digital-tech industry.
In the course of the change, these companies somehow still held onto their reputations as disruptors with a libertarian ethos, even as they were ever more deployed in service of regime priorities. When Trump took office in 2016, and Brazil’s Jair Bolsonaro and UK’s Boris Johnson seemed to be forming a populist resistance force, the crackdown began. With Covid lockdowns, all these platforms swung into action to feed public panic, silence dissent, and propagandize for untested and unnecessary shots of an experimental technology. The deed was done: all these institutions became faithful servants of an emergent corporatist empire.
Now they are full cooperators with the censorship-industrial complex, while the few outliers like Elon Musk’s X and Rumble are facing enormous pressure to conform and get on board. The CEO of Telegram has been arrested simply for not providing a backdoor to Five-Eyes governments, while NATO nations are investigating and arresting for the act of posting disrespectful memes. Digital tech is the most notable and thrilling innovation of our times and yet it has been browbeaten and distorted into a main tool of state power.
2. The US has a medical cartel that works...(READ THIS FULL ARTICLE HERE).
