Categories
- Governance - Oppression Discourse Health Care

What is the Definition of Capitalism?

I didn’t know it was called capitalism to work for someone else’s money.

I thought capitalism was the harder you work the more money you earn. In fact, i was told communism is what we call it when you work day in and day out and someone else gets the check. How did this get confused?

The middle class is where all the producers and professionals are located (doctors, teachers, farmers, engineers). So, according to capitalism, because producers do all the work, they should be the richest. Why aren’t producers the wealthiest?

Also, if the upper class is the wealthiest, they should be the one’s performing all the important jobs requiring labor and education in society, right? Like MD’s, RN’s, agriculture, teaching, and electrical and software engineering. There must be some confusion.

Otherwise, how could it be possible for a capitalist economy to reward the top 1% with all the national rewards, and tax and burden the middle class who are the backbone of the economy.

If capitalism is the harder you work the more you earn, then the middle class should probably be the wealthy class, and the upper class should be the poverty line. Does owning hospitals, banks, and corporate business require the most amount of stress, labor, education, degrees, effort, creativity and intelligence?

Does setting up a business, or ordering around middle management, or consulting on which CEO hire will maximize short term profits — is this harder than being a surgeon, a professor, a software engineer, or a farm laborer?

Does membership on a venture capitalist board stress one out more than performing open heart surgery? How bout being a major share holder in a hospital stake holding — is that harder than being the ICU nurses who clean, draw blood, and resuscitate patients daily?

How bout owning a farmland — is that harder than working the fields all day to pick fruit and vegetables for less than minimum wage?

Oh, right, its not hard work that’s rewarded, its investment capital. And its not a capitalist economy that we are employed in, its an oligarchy. And its not congress’s job to represent the interests of the american public in legislating tax codes, its the bribery and corruption of lobbyists that do that. And its the job of “capitalism” to be misused to mean communism, its exact opposite, by those who benefit from control of the economy.

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Categories
- Oppression Discourse Justice Power

Are You Working for Someone Else’s Money?

GDP has doubled in the past 30 years, yet workers wages haven’t even kept up with inflation, let alone increased.

The 1.9% increase in wages was  surpassed by inflation in 2012 marking the 40th consecutive year that wages have declined below their 1972 peak. Wages fell 0.2% in 2012, from $295.49 per week, (in 1982 currency value) to $294.83 per week, according to the 2013 Economic Report of the President.

Data for production and non-supervisory workers in the private sector from “Hours and Earnings in Private Non-Agricultural Industries, 1966-2012” (taken from Appendix Table B-47) shows that this decline in wages is affecting 80% of the current private-sector workforce (as detailed in table below). At this same time, during these same years in which wages stagnated,  private non-farm productivity has doubled (in the fashion illustrated on the graph below). Therefore, higher productivity coupled with lower wages implies increasing wealth inequality. This fuels the gap that separates the rich minority from the poor majority widening into abyss.

The great irony is that the middle class is doing all the work that is enriching the top 1%. The audacity of the rhetoric from the rich minority is to accuse the poor of mooching off society and not taking responsibility for their lives — however the obvious reality is that the laborers and educated services classes are doing all the work that booms the economy. And the economy has boomed — doubling in productivity over the past 30 years. With none of the profits going towards those who do the actual work or those who deserve the increased salaries. The profits have one and all flowed like streams of increasing income into the sea of an already wealthy elite’s bank accounts. If they would only stop calumniating the poor, the situation would be almost tolerable.

If minimum wage had merely kept up with inflation for the past 30 years it would have been over $25 an hour by now. Comparatively, minimum wage is still in the sub-ten-dollar range and corporations ownership incomes are exponentially higher than they were just 5 years ago. Who is mooching off society now?

Year     Weekly Earnings (1982-84 dollars without taking into account inflation)

1972     $341.73 (peak)
1975     $314.77
1980     $290.80
1985     $284.96
1990     $271.10
1992     $266.46 (lowest point; 22% below peak)
1995     $267.17
2000     $285.00
2005     $285.05
2010     $297.79
2011     $295.49
2012     $294.83 (still 14% below peak)

Graph of Nonfarm Business Sector: Output Per Hour of All Persons