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In another place I will comment on the careful use of language, but yes that's right, that's a main sense of the term "Capitalist". It's also true of course that I would be committing a fallacy of composition if I asserted that the owner of a factor of a thing was the owner of the thing. It's also true there is no cheat or exploitation when labor is fairly compensated for its factor in production, by established market values, presuming those market values are in fact fair.</p><p> | In another place I will comment on the careful use of language, but yes that's right, that's a main sense of the term "Capitalist". It's also true of course that I would be committing a fallacy of composition if I asserted that the owner of a factor of a thing was the owner of the thing. It's also true there is no cheat or exploitation when labor is fairly compensated for its factor in production, by established market values, presuming those market values are in fact fair.</p><p> | ||
However as Marx and Marxists will explain, the essence of this system is 1) the expropriation of the [[:en:surplus value]] (which is called "profit") in the struck price of the house or car and 2) the [[:en:Base and superstructure|basing]] of all production and indeed all of society on this scheme of expropriation, as an "ism" (cf Heilbroner, ''Nature of Capitalism'').</p><p> | However as Marx and Marxists will explain, the essence of this system is 1) the expropriation of the [[:en:surplus value]] (which is called "profit") in the struck price of the house or car and 2) the [[:en:Base and superstructure|basing]] of all production and indeed all of society on this scheme of expropriation, as an "ism" (cf Heilbroner, ''Nature of Capitalism'').</p><p> | ||
Moreover, the lie or cheat and attempt at domination are clear in the general failure of honest accounting which is at the core of this system. In principle, the Marxists complaints could and can be dismissed where there is open and clear accounting, at least insofar as a narrow focus on the deal in production is concerned, which for that matter are to some extent required at least at the level of monopoly/big Capital. In that case the Capitalist is simply a (possibly vincibly corrupt) knowledge Worker and charges a known amount for her factor of organizing production.<p> | Moreover, the lie or cheat and attempt at domination are clear in the general failure of honest accounting which is at the core of this system. In principle, the Marxists complaints could and can be dismissed where there is open and clear accounting, at least insofar as a narrow focus on the deal in production is concerned, which for that matter are to some extent required at least at the level of monopoly/big Capital. In that case the Capitalist is simply a (possibly vincibly corrupt) knowledge Worker and charges a known amount for her factor of organizing production.</p> | ||
But the entire system is based on subverting such openness in accounting which is why I wanted the current POTUS to be in a contest with Sanders, although the latter is a poor anti partner to the former, who is more or less an epitome of the system, a pure brand rentier with not even the role in production common to a Gates or in speculation to a Buffet. It is also a poor basis for the structuring of society, substituting what is appropriate to individual motivation as an organizing principle for a collective without an [[:en:invisible hand|actual]] means of reconciling the different interests.<p> | <p>But the entire system is based on subverting such openness in accounting which is why I wanted the current POTUS to be in a contest with Sanders, although the latter is a poor anti partner to the former, who is more or less an epitome of the system, a pure brand rentier with not even the role in production common to a Gates or in speculation to a Buffet. It is also a poor basis for the structuring of society, substituting what is appropriate to individual motivation as an organizing principle for a collective without an [[:en:invisible hand|actual]] means of reconciling the different interests.</p> | ||
When labor is relatively simple and easily commodified such as in manufacturing line workers the model can work fairly well. However when such commodification is impossible as for example in the intellectual worker, or when collective interests can't be reduced to individual gain the system fails and blocks needed responses.<p> | When labor is relatively simple and easily commodified such as in manufacturing line workers the model can work fairly well. However when such commodification is impossible as for example in the intellectual worker, or when collective interests can't be reduced to individual gain the system fails and blocks needed responses.<p> | ||
Excellent as an economic regime under enlightened leadership as the Chinese Communist Party has shown and was the case here [[:en:Golden Age of Capitalism|when]] it was in planetary opposition.<p> | Excellent as an economic regime under enlightened leadership as the Chinese Communist Party has shown and was the case here [[:en:Golden Age of Capitalism|when]] it was in planetary opposition.<p> | ||
