free market capitalism

Introducing the In Depth series on the actual workings of capitalism. Commentary on economic theories.

The Dalio Critique of Capitalism – Part One Ray Da —>> read more –>>

The earth is burdened by the tsunami of plastic refuse that will never degrade. Government needs to protect us from capitalist enterprises delight in externalizing costs to our detriment and their short-term benefit.

Corporate concentration of income and wealth are core features of capitalism. From its earliest cheerleaders like Adam Smith, the drive for corporations to get ever larger and in the doing drive their competitors out of the market was noted and warned against. John Oliver provides a thorough and amusing introduction.

A Note on Jobs & Unemployment Original publica —>> read more –>>

Reich’s latest cartoon does a good job of describing the changes in the US economy, weaker on the underlying political campaign by the rich and corporations to restructure the economy to their benefit. Worth the 6 minute viewing time.

Brazil is the newest scene of massive marketing campaigns to replace local food and local diets with ultra-processed industrial foods. This is beginning to repeat the mass experiment in bad eating habits that the US has already experienced for two generations.

The US economy is still the largest in he world and it makes us one of the richest nations on earth. We think of it as the most dynamic, innovative, technologically advanced in the world. The trends of the last decade show that there is much to be concerned about.  

Capitalism is driven by a single internal logic that requires the transformation of people and nature into commodities to produce profits. This logic is amoral and the system, excepting for external controls by government and social institutions, just churns on.

For all of the chest beating about the bold risks taken by capitalists, the capitalist time horizon is very short when compared to the many years of work that have gone into almost every significant scientific and technological advance. Without extensive government investment in activities that deliver longer term success, the capitalist system will simply eat its seed corn until it is gone.