Discover and read the best of Twitter Threads about #Capitalism

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Thread: Recently I was asked to appear on a conservative TV news show for their "capitalism vs. socialism" week. After explaining the basic premise of my argument, I was rescheduled & then canceled.

Here's why #capitalism vs. #socialism is an entirely wrong debate & dichotomy:
First off, no one agrees on (or even seems to understand) definitions of both systems. To quote @MikeBloomberg recently: "Anyone who believes that unfettered capitalism works hasn't read history."
I would add that anyone who believes socialism works also hasn't read history.
I'll spend more time debunking free-market capitalism as a reality (regardless of whether you actually agree with it or not), as that seems to warrant more explanation.

KEY POINT: No country in the world exercises totally unfettered, free market capitalism. Let me explain why:
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»#YuriBezmenov may well go down in history as a #saint by the #survivors of the generations to come.

His statements about the global “#communist agenda” offers an opportunity for students of #history, #philosophy and #economics - world wide - to take note of #reality and to
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.. reflect on the identity of their intellectual enemy, the dynamics of #capitalism in economics, and the role of #violence in politics.

Firstly, what is the “western identity”? From my understanding .. the #western identity has been shaped primarily by what it has resisted:
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namely monarchic #despotism, authoritative #collectivism, and the infringement on the sovereignty of the #individual. You can even say that, to an extent, #Christianity itself followed from an already existing identity (i.e. the #Socratic divination of the individual).

..
Read 16 tweets
#Socialism #Marxism The asset-owning billionaires work for me and everyone else with any money whatever to spend and which the billionaires want to earn, because to earn that money, they have to produce products that ordinary people want to buy.
#Capitalism and its market economy are far more democratic than #democracy. Under the latter, countless distinct choices are scooped up and buried under just one choice, once every several years: Do you want candidate A or candidate B? (Under #socialism, it’s A or don’t vote.)
Under #capitalism every dollar spent for every distinct good or service is a vote for that good or service. To continue being supplied, it must receive enough votes to cover its costs and a competitive rate of profit. If it doesn’t, its production will be cut back.
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As we peel back the layers of an orchestrated movement that serves to protect the ruling classes & the suicidal capitalist system itself, we need to look at Global Covenant of Mayors for Climate and Energy. This will be a long & important thread. #FridaysForFinance
The Compact of Mayors officially merged w/ the Covenant of Mayors in 2016. The Global Covenant of Mayors [for Climate and Energy] unites more than 9209 cities (already committed) in 132 countries across 6 continents. This represents the world's largest coalition.
The Board is co-chaired by European Commission Vice-President Maroš Šefčovič and former New York City Mayor and U.N. Secretary-General’s Special Envoy for Climate Action Michael Bloomberg. Former UNFCCC Executive Secretary Christiana Figueres serves as Vice-Chair.
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What is the neoliberal university (or college), where did it come from, and what should be done about it? A Thread. #highereducation #capitalism #neoliberalism
1) The neoliberal university (or college) is an institution of higher education whose governance is primarily organized around increasing revenue, even when it is a non-profit or public institution. All other functions are secondary.
2) As part of their search for new revenue, neoliberal universities invest heavily in marketing to solicit new students, donations, grants, and partnerships with other schools, governments, or businesses.
Read 27 tweets
Jamie Dimon's CEO letter to his Dear Fellow Shareholders is out.

I read the sections "Is #capitalism to blame? Is #socialism better?" and "Large, successful companies" so you don't have to.

Executive Summary: Jamie writes like a Stalinist toddler. 1/5
reports.jpmorganchase.com/investor-relat…
First, in case the Fellow Shareholders didn't know: "Many countries are called social democracies".

And, just FYI: "This is completely different from traditional socialism." 2/5
Second, socialism produces "officials who often have an increasing ability to interfere with both the economy and individual lives".

Has to be weighed, of course, against capitalism producing bankers who have an incredible ability to interfere with the English language. 3/5
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Are you folks ready for the 2019 Target Field Concessions Price Analysis #TargetFieldFood? If no, please mute #TargetFieldFood because here it comes …
Reminder: the #TargetFieldFood price spreadsheet was created for those who pay for concessions, unlike media folks who get free feedbags. I believe fans who fork over their hard-earned dough care about prices. I also chart dropped items, which write-ups rarely mention.
(Also this year the Twins released their prices AFTER they got the free media PR, which, #capitalism, but #ethicsinjournalism. For the record, I’m a 10-year Twins season ticketholder, former media critic & definite cheap-ass, though I like good ballpark food.) #TargetFieldFood
Read 16 tweets
SOCIALISM! The Green New Deal socialism monster under your bed mythfighter.com/2019/03/19/soc…
SOCIALISM: “A theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.”
#GND
The words ownership and control are bolded because they are key. When the government owns and controls something, for instance, a Veterans Administration hospital, that is an element of socialism.

#GND
Read 8 tweets
I just had this thought “OMG I haven’t published anything in so long! I’m a mess.”

Follow up thought: “I published a book a year ago. I’ve been promoting it ever since & working on the next one & publishing public writing. That thought is capitalism speaking, not me.”
I have to actively work to unlearn the hyper-productivity I once valued more than my own happiness or health. I have to actively resist the pressure to outpace academic #capitalism. I have to critique the system, not myself.

#academictwitter #capitalismkills #workinprogress
Addendum: Unless, of course, I am perpetuating oppressive systems & doing harm. Then, I need to critique & examine myself. But most of the time, it’s the system. 🙃
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Key insight: #Capitalism inherently concentrates #wealth into a shrinking minority & given that our political system is funded by private $ & that $ = power. It explains why regulations can only temporarily slow/reverse the trend. peoplespolicyproject.org/2019/03/05/wea… via @PplPolicyProj
Now of course regulations & #progressive taxation are needed but to truly defeat inequality & protect our political system. We need to democratize the main source of #inequality which is the workplace. Our factories, stores, & offices aka the businesses that make up the #economy.
To do that we have to bring #democracy into the economy. Accomplished by passing comprehensive legislation that helps fund, promote, + incentivize the expansion & creation of #Worker #Cooperative businesses. Which are businesses owned & run by their workers democratically.
Read 6 tweets
Another entry into the conversation of the systemic relationship between society & wealth/#Capitalism. Embedded in the conversation are a number of questions:
>What is an economy for?
>What is the first principle of wealth?

newyorker.com/news/our-colum…
A few more questions, there are many more. All of which need to be addressed as part of the larger conversation we are being compelled to engage, however reluctantly.

>What is the first principle of economics?
>how much is enough.
> Are there different dialects of #Capitalism that need to be distinguished as essential to having a rational conversation?
eg. is there a difference between how a capitalistic economy works at the local level that is different from its multinational corporate versions?
Read 7 tweets
"If you have nothing to hide you are worthless" Shoshana Zuboff #CPDP2019
Should we not gather in resistance against surveillance capitalism which has come to destroy human nature as industrial capitalism did to nature?
@murakamiwood digital is another special fix of capitalism to commodify aspects of human experience until now uncommodified.
Read 18 tweets
1/
Graeber/W pitching Fukuyama all embrac. style ag Fukuyama: what's the point?

Both wanna descr THE World Hist as 1 devel 🤪; G/W go on as if we're to forget #sociology & its #capitalism insights incl. Capit means A+SOME! qual diff ways of org society #Marx #Durkheim #Foucault
2/
G/W explain inequality is dealth with regularly throughout hist: "Rather than idling in some primordial innocence, until the genie of inequality was somehow uncorked, our prehistoric ancestors seem to have successfully opened and shut the bottle on a regular basis..." Ok, fine
3/
G/W conclude on the above : "If so, then the real question is not “what are the origins of social inequality?” but, having lived so much of our history moving back and forth between different political systems, “how did we get so stuck?”

Focus Q: "how did we get so stuck?"
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I have been thinking quite a bit about the issues raised by the BMJ article below (& others) and the language of #commercialdeterminantsofhealth or #CDoH
It is so important that #socialscientists , including #anthropologists participate in these conversations
It is so important that we think about the role of #industry interests in shaping #health & #socialscientists can help frame these conversations in broader terms
Read 18 tweets
@sophiejrigney @elizabethmoya @makesmilk @babyfriendly Anthropologist here - I have written about changing ideas about #time and about the regulation of infants quite a bit. These are #culturalideologies that came about in late 19th-early 20th century in response to social changes 1/n
@sophiejrigney @elizabethmoya @makesmilk @babyfriendly the rise of industrial #capitalism changed labor practices and emphasized efficiency and predictability. The #clock was particularly important in this regard.
@sophiejrigney @elizabethmoya @makesmilk @babyfriendly There was a fundamental reworking of #time from a very different understanding - agricultural labor has a very different rhythm (EP Thompson famously wrote about this) jstor.org/stable/649749?…
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October 3-4, 1993: #Moscow uprising against U.S./#Yeltsin capitalist counter-revolution & Black October massacre #Октябрь1993 #ЧерныйОктябрь #socialism #USSR #Russia
October 3-4 marks the anniversary of the heroic uprising against #BorisYeltsin’s #imperialist-backed attack on the Supreme Soviet in Moscow. The uprising’s defeat represented the final overturn of socialist relations and the restoration of #capitalism in the USSR.
Several years of counter-revolutionary developments within and without had seriously demoralized the Soviet working class. Generations of non-combative, revisionist leadership left the Soviet people unprepared to fight back to defend socialism.
Read 14 tweets
Carole asks Luke: when did Trump cross your radar?

Luke: summer 2016. When Manafort became campaign manager whom Luke had met in Ukraine who was consultant transforming Yavchenko. What was he doing in Soviet Empire?? He was best connected political lobbist in area. Pre-Steele!
.@lukeharding1968 was investigating Deutsch Bank. DB kept lending even after Trump sued DB for losses arising from #FinCrisis. Dec 2016 Luke met Christopher Steele who said, Follow the Money, Follow the Sex #BylineFest @BylineFest
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“for more than two centuries, in several European countries, hundreds of thousands of women were tried, tortured, burned alive or hanged, accused of having sold body and soul to the devil ..
.. and, by magical means, murdered scores of children, sucked their blood, made potions with their flesh, caused the death of their neighbours, destroyed cattle and crops, raised storms, and performed many other abominations”
'Caliban and the Witch' by Silvia Federici

'Caliban underscores that the persecution of witches was not just some error of ignorant peasants, but in fact the deliberate policy of Church and State'

#Demonisation is nothing new
#Demonisation always has method in its madness
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The #legitimacy of any form of #government is not and cannot be based upon #consent, but upon how well it protects the rights of those who refuse to consent.
When the bullshit is stripped away, #Socialism is #theft, and can never be a moral form of political economy, because it cannot protect the rights of those who refuse to consent to the theft of their earned wealth. Those who do consent are not prevented under any other system…
from engaging in #voluntary #cooperative #ownership of #capital. Therefore, #Socialism is not defined by voluntary participation, but by #coercion, or #theft, a universal #moral harm. #Intent is not #magic. Good intent and good works do not and cannot excuse the theft.
Read 11 tweets
Void all contracts with ICE, @Microsoft!

Don't be @Trump's Volkswagen.

Don't support the fascist @Trump Regime.
All businesses with any supporting contracts or association with #ICE, should void the contracts and stop all work immediately.
It's time to start isolating the @Trump Regime.

No collaboration

No support

Don't become another #Volkswagen!
Read 8 tweets
(1) Another thing Communists did to us:

- They wanted us to do things only for ourselves, and actually look upon others with animosity.
- They wanted us to destroy the family, replacing it with slavery to the government.
(2) Look at the above two points, and figure out what that does to inheritance.

- They convinced baby boomers that their children should have to suffer, not have any financial means to live or own a home or have children or have a family.
(3) They actually convinced baby boomers that it is BAD to give their children inheritance. BOTH @AandGShow's Joe AND Jack complained as soon as they read it's becoming more common for children to consider it theft when their parents spend too much on unnecessary costly items.
Read 29 tweets
Gather round, friends, because I have something I'd like to share with you. A behind-the-scenes perspective, if you will, and it's gonna be a long damn thread, so buckle up.
Here’s the thing: Attending an author event or book signing by your favorite author is a great opportunity to meet them, tell them how much their work has meant to you, and walk away with really great mementos of the experience: signed books!
I recently came across this NYT article from back in 2011 about a dilemma bookstores were facing: whether to charge for book signings and author events. As someone who entered bookland in late 2013, it’s amazing to think about what has changed since then. nytimes.com/2011/06/22/bus…
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The term #capitalism is highly confusing. The definition is clear enough: the private ownership of the means of production (capital). But the implications are very different depending on one's political or economic perspective. Both are right and wrong. Let's take a look at them.
Politically speaking, private ownership of the means of production provides owners with power. Why? Because society is dependent on production of value, and production is undertaken using capital. Whoever has ownership of capital can then influence society. Consequently, it is
only intuitive that owners of immense capital can make demands from policy-makers, who need to at least consider this perspective when making new laws. So the power of the state (usually thought of as the power of "the people") is in a sense limited by capital ownership. And, no
Read 19 tweets
#KarlMarx200 thread:

1. In my own #research, I have found Marx's notion of #contradiction particularly useful.

In his analysis, Marx noted how the contradiction between #labor and #capital accounted for many of the social dynamics of #capitalism.
2. The contradiction does not necessarily mean #conflict, but tendencies that "pull" in different directions and are in a dialectical relation to each other.

The contradiction of labor/capital can be accommodated in different ways and with very different consequences.
3. I like how this notions focuses on changing social dynamics. In my own work on #land use of #Mengen speakers in #PapuaNewGuinea, I've used the notion of #contradiction, to think about social forces underpinning Mengen land ownership and use.
Read 14 tweets

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