Hello everyone, I have actually written an article about China’s Presidential Term. I hope this will further your knowledge and interest in this event: https://medium.com/@ericysong007/the-presidential-term-879b6224d39b
As funny as that logo is most of the people Pinochet killed weren’t actually even communist
Thank you for bringing this up. Very interesting implications for China’s political future
Because it couldn’t be real capitalism if it’s bad could it.
Capitalism is the idea of the free market space, whereby the general consensus of the consumer determines the market value of products. Crony capitalism is when a small elite hijack the process turning it from a democratic consensus to a set-serving oligarchy
The difference is Crony Capitalism involves the use of the political process and government, or hijacking of it to favor the now oligarchy. Which is why Capitalism is only capable in a Republic.
Somebody please make an ACFA flag (anti-communo-fascist action, or better yet ATA, anti-tyranny action). Instead of a yellow or red flag next to a black one just have an orange flag next to a black one.
This is the natural result of a capitalist system. Accumulation of wealth and capital in the hands of a societal minority will lead to the concentration of political power in the hands of a minority as well.
But in a consumer market the power that minority has comes from the consumer, and if the consumer becomes displeased (provided there is no monopoly) then they will seek alternatives, forcing the minority to either adjust their system to appease consumers or go bankrupt
The power of the consumer is limited by wages lower than the value of their labor, as well as the subsequent exclusion from certain goods and services that they cannot afford, as it is not always profitable to serve all the individuals in a society.
Market forces are limited by circumstance, environment, wealth. Even so, market forces operate on a profit rather than need basis. Markets lead to unequal distribution of wealth, and while this can provide an incentive to an extent, markets under capitalism lead to horrendously unequal outcomes. In addition, the profit motive means that utilizing the state as an apparatus to further the interests of business is often the “rational” thing to do for business owners and corporations. Capitalist markets eat away at both the economic and political power of the working class, and feed the economic and political power of the bourgeoisie.
They still control the means of production, and have a disproportionate amount of societal wealth. They can buy the government to support them if consumers do not. Consumers can choose alternatives that are allowed with their level of wealth, but due to capitalism, they nonetheless are restricted in their choice due to severely unequal distribution of wealth.
“They can buy government support”
Hence why I’m against subsidies and bribes.
“They still control the means of production”
So? What’s wrong with that? If I invest the money to build a factory I should get something out of that, no?
You may be, but capitalists are not. They will find a way to get the state to support them. Money is often required to attain political office, and in a capitalist system, profit and money will always be primary driving factors behind what legislation is passed.
They control the wages of the majority of society, and siphon off goods sums of the value from the labor of their employees. It creates a society in which profit comes before human need, and results in a society with less happiness, health, and utility than could otherwise be achieved with the same resources.
If you work you should get the value of your labor you put in. Investing in a factory does not mean worker exploitation is okay or optimal.