Capitalism shouldn’t be confused with business or anything else that’s good for you.
Simply put, capitalism is the buying and selling of someone else’s business. Whether it’s the looting of companies by the Leveraged Buyout Specialists at Bain Capital, or the monopolization of a particular commodity by the likes of Enron. A capitalist by definition does not create, does not produce, and does not contribute to anything but their own bottom line. Capitalism is about the use of capital to one’s own advantage in the taking of what other people have produced, and nothing else. It’s not about workers vs. employers except that capitalism demands the exploitation of workers, but only because there’s profit to be had there. Just as there can be profit in war or any natural disaster, if capitalists are allowed to take advantage of the situation.
Capitalism shouldn’t be confused with investing, this is where a person owns some part of an ongoing business. Investing in turn should not be confused with “playing the market”. Remember when it used to be called that, instead of your “retirement security“? The stock market doesn’t produce anything either, with the exception of a few winners and lots of losers, just like playing at any other mafia run casino. The Wall Street mafia does well for itself but serves no public good, any exception to this rule could be better done by someone else.
Lets review: a business that actually produces something of value is by definition not capitalism, and their investors are not capitalists. The exception is that some businesses in an unregulated economy do behave as capitalists by preying upon their weaker competitors, or prey upon the public in general while operating a legitimate front business.
Americans all think they are capitalists; having had it drilled into them for generations that capitalism is the polar opposite of communism, and no “good” American is a communist. All the while fewer and fewer Americans own anything themselves. They don’t realize they are charging full speed toward living in the exact image of a communist state where the individual owns nothing, just without veneer of socialism.
Mitt Romney has found out just how little regard Americans actually have for capitalists. Republican voters have now switched to Newt Gingrich after he pointed out just how despicable capitalists are. In SC, Mitt only won the demographic of those with an income over $200,000.
Historically, communism as it has been practiced was really indistinguishable from capitalism. The Red Chinese were able to “convert” to capitalism without changing much of anything, they‘re about to announce a new five year plan that will make them the dominant capitalist power in the world. The Soviet elite converted to capitalism by simply doing away with their social safety nets and becoming capitalist oligarchs.
American capitalism is moving the country as fast as it can to become a hybrid of the Soviet, Russian Oligarch, and Chinese models. From the Soviet system: the total domination of business by gigantic centrally planned corporations (Welcome to Walmart, I am comrade greeter). From the modern Russian Oligarchic model: the total elimination of social safety nets of any kind, and from the Red Chinese model we get a national security state.
The Republican base hasn’t caught on that Newt is more than happy to wield the axe for people like Mitt, as long as Newt gets to wear the crown in public. If Americans in general catch on that the Occupy movement is on to something thanks to the revelations of Newt Gingrich we should build him a statue, or name a prison after him.