The Pitfalls of Modern Capitalism

When Adam Smith put to paper the principles of market systems that Marx would later dismiss as capitalism, people were still dedicated to their religious faiths. Smith -- who was not in Washington at the time (ba-dum-tssshhh) -- knew this, and, even prior to releasing this monumental work, he laid the foundation of what his market system would be based on: “moral sentiments”. Smith was not a relativist, but he believed that morals were commonly held -- after all, Christendom was still holding on, albeit just barely and for dear life.

True, enlightened capitalism, while inferior to distributism, is at least superior to what we have now. Dave Brat, a Catholic and a now-famous Tea Party politician in Virginia, has even written about this. What we have now is a disgrace: capitalism cannot work under America’s current value system.

G. K. Chesterton wrote, “It cannot be too often repeated that what destroyed the Family in the modern world was Capitalism. No doubt it might have been Communism, if Communism had ever had a chance, outside that semi-Mongolian wilderness where it actually flourishes. But, so far as we are concerned, what has broken up households and encouraged divorces, and treated the old domestic virtues with more and more open contempt, is the epoch and power of Capitalism” (Three Foes of the Family).

He’s right. It’s been impure. It's been bad since at least 1929, when Wall Street made clear that it would rather have us suffer the Great Depression than have itself suffer easily-regained stock losses. That's a problem.

Others, including Rick Santorum, are beginning to advocate a more person-centered system, but within the capitalist vein. And this is great. Ven. Fulton J. Sheen wrote, “The third Declaration of Independence remains to be written; namely, the economics in which spiritual men will stand on their own because they can call something their own” (Freedom Under God). Widespread property ownership is good, and we have true capitalism to thank for its relative prevalence today.

But there is little appreciation for this now. Children and their parents only accept what we now call “capitalism” grudgingly, because we are fed it from the trough at a young age. Again, this “capitalism” is not pure, but is merely cronyism with the façade of a free market to keep the children believing they are in control. This desire for control is also prevalent in the theological underpinnings of today’s Christian movements, especially within Pentecostalism -- surely, that’s no coincidence. This is all doomed to fail, obviously, and its political epitome, China the over-builder, is near collapse. Humans must stop micro-managing, attempting to evolve themselves into demi-gods.

Some “conservatives”, unfortunately, argue for this situation’s worsening with cries for libertarianism. What is the root of this? Relativism: just an easy way of saying that you can do whatever you want, whenever you want, and however you want. Aleister Crowley’s “do what thou wilt” and Thomas Jefferson’s gleeful “if it neither picks my pocket nor breaks my leg” are held up as the new mantras. These, of course, are not Christian principles, for Jefferson was a deist and Crowley was an avowed occultist. The truth is that, even if we in our modern, tolerant, happy-clappy mindset don’t find a particular thing to be immoral or downright evil, there is still an objective Judge of all actions: God, Who is all Goodness, Truth and Justice. His views, being immutable by nature, never change. So, what then must He think of modern society’s tendency to drift to thoughtless novelties and the perpetuated anything-goes attitude?

Just look at the results. This godlessness has not worked. It's no surprise, really, that an economy falters when even the family is neglected. The Greek root for "economy" -- oikos -- means "home". So, for example, when artificial contraception was encouraged in the 1960s, what was the result in the 1970s (and onward)? The crooked got rich and an influx of new slaves, while real wages for ordinary folks spiraled downward. Surprise, surprise.

We need God’s grace to structure ourselves. “Christ alone can free man from what enslaves him to evil and selfishness: from the frantic search for material possessions, from the thirst for power and control over others and over things, from the illusion of easy success, from the frenzy of consumerism and hedonism which ultimately destroy the human being,” Pope St. John Paul II said.

People are, thankfully, starting to pay attention. We have had our fill of the antics and the petty partisans. And many have finally woken up to the fact that these have contributed to the culture of death. This is all materialism, we know! Enough of it!

As the economist E. F. Schumacher said, “An attitude to life which seeks fulfillment in the single-minded pursuit of wealth -- in short, materialism -- does not fit into this world, because it contains within itself no limiting principle, while the environment in which it is placed is strictly limited.”

I will be releasing several posts on the principles that govern society and economics. This series of posts will likely also, by necessity, plumb the depths of today’s anything-goes Protestant roller coaster, but will stick mostly in the Catholic realm. Christianity, like capitalism, has been trampled by deviant fellows with iron hearts. It is my hope to provide the groundwork necessary to shock modernity into a new Vendean insurgency to reconstitute Christendom and cast the ancient serpent once again into his pit of despair.

Alberta's Child: "A home is not a "means of production," is it?"

Of course it is, and has always been -- why would you fanaticize or theorize otherwise?
Homes have always been a place of work -- for economic, social & family 'production'.

FRiend, I'm hoping to figure out where you're coming from, and trying not to jump on you too hard, too fast.
So what exactly is this nonsense about making distinctions between various "categories" of property?
How can some property be "good" and others "bad"?
Who, exactly, is going to decide which is which?
Will these Masters-of-Morality be elected, appointed or self-appointed?

Alberta's Child: "an economic system built around people living in their "own" homes -- usually with large mortgages -- and then traveling somewhere else miles away to work for someone else is an economic system built on sand.
So many principles of sound economics are put at risk in this type of scenario."

FRiend, you seem wholly confused.
Do you not "get" that every human being on the face of the planet works "for someone else".
Everyone has a boss, or customers, clients, renters, shareholders, or law enforcement they must satisfy.
Even retirees must submit the proper forms after serving the time required by their contracts.

Indeed, most people have many bosses to satisfy, including their families and communities.
So what exactly is your problem with this?

Alberta's Child: "In a system built on sound economic principles, the only real property ownership involves property that is used as a means of production."

First of all, all property, without exception produces something.
So your notion of somehow distinguishing one type of property from another is an exercise in ridiculousness.
Why do you do it?

Alberta's Child: "The modern idea of 'property ownership' that we've come to accept as normal is really a construct of the post-WW2 era."

More rubbish!
The only thing that's seriously changed is technology.
Basic laws of property ownership are essentially the same today as they've been for 150 years.

So why do you invent such nonsense?

Property ownership?

No one in the United States is allowed to own property. You will never be allowed to do so and to profess it is a downright lie.

The GOVERNMENT owns 100% of all land and property in America. You simply LEASE it on a yearly basis. If you don’t pay your lease (taxes) they will take the property back and you will be without nothing.

Do you have freedom to work and spend the money you make the way you like? No! The government simply LEASES you the right to use the American fiat script (dollars) to purchase. If you don’t pay the lease (income taxes) they will come and take both the script and property from you.

There is no financial freedom in America. It is all controlled by the government on all levels and crony capitalism is rampant while sucking at the teat of the government hog.

IT’S ALL A RIGGED GAME FOR YOU DON’T ACTUALLY OWN ANYTHING!

Oingo Boingo - Capitalism

There’s nothing wrong with capitalism
There’s nothing wrong with free enterprise
Don’t try to make me feel guilty
I’m so tired of hearing you cry

There’s nothing wrong with making some profit
If you ask, I’ll say it’s just fine
There’s nothing wrong with wanting to live nice
So tired of hearing you whine

About the revolution, bringing down the rich
When was the last time you dug a ditch, baby

If it ain’t one thing, then it’s the other
Any cause that crosses your path
Your heart bleeds for anyone’s brother
I’ve got to tell you, you’re a pain in the ass

You criticize with plenty of vigor
You rationalize everything that you do
With catchy phrases and heavy quotations
And everybody is crazy but you

You’re just a middle class, socialist brat
From a suburban family and you never really had to work
And now you tell me that we’ve got to get back
To the struggling masses, whoever they are

You talk, talk, talk about suffering and pain
Your mouth is bigger than your entire brain
What the hell do you know about suffering and pain?

There’s nothing wrong with capitalism
There’s nothing wrong with free enterprise
Don’t try to make me feel guilty
I’m so tired of hearing you cry

There’s nothing wrong with making some profit
If you ask I’ll say it’s just fine
There’s nothing wrong with wanting to live nice
So tired of hearing you whine

You’re just a middle class, socialist brat
From a suburban family and you never really had to work
And now you tell me that we’ve got to get back
To the struggling masses, whoever they are

You talk, talk, talk about suffering and pain
Your mouth is bigger than your entire brain

There’s nothing wrong with capitalism
There’s nothing wrong with capitalism
There’s nothing wrong with capitalism
There’s nothing wrong with capitalism

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