because they prefer to dream of themselves as billionaires in potentia. it’s hard to admit you’ve been duped, especially when society gives you so many targets to punch down on.
or, as futurama put it, link
Well it’s similar to what Churchill said about democracy… it’s a bad system but it’s better than all the others.
If you can put ideology aside and think in terms of economics, in many industries capitalism offers an efficient way of determining the an optimal price and quantity to produce considering the costs and value something brings. And it’s something that allows for industries to function without an excessive amount of centralized planning which will often get things wrong.
But it’s like a machine in a many ways. And like any machine it requires maintenance. Things like trust-busting, progessive taxation, regulations, and occasional stimulus are necessary to keep it running smoothly.
But once you bring ideology into it, it all becomes a shitshow. Some will argue capitalism is a perfect machine and any kind of maintenance on the machine will ruin it’s perfection. Others take any kind of maintenance on the machine as a sign the machine will inevitably fail and needs to be replaced entirely. But then we go back to the beginning where other systems have been tried and they’re worse. Charlatans, grifters, ideologues abound pushing people in every direct except for simply taking reasonable measures to keep the machine running smoothly. There’s an almost religious devotion towards arguing the either the machine is perfect or the machine is doomed to failure and not only should be replaced they should accelerate the failure so it can be replaced sooner.
Zealots from all sides demonize the mechanics that are simply keeping things running. A lot of emotional nonsense about this thing. But to an economist, it’s just a machine with both strengths and weaknesses. The functioning of the machine is well understood, and the other machines that have been tried didn’t really work.
Stockholm syndrome
The Post apocalyptic nature of alot of media makes me think that people can more easily Imagine the fall of human civilization then we can a better world where everyone’s needs are met.
To the 1%, losing all your wealth and power be an apocalypse, so it is in their best interests that everyone would be thinking the same as well. No matter how much better we all would be together otherwise.
People who defend billionaires either have a vested interest, have actually bought that they’re 1000x smarter than normal people, or have some (possibly vague) abstract moral position that overrules the basic idea of fairness. Often it’s more than one.
Capitalism, as the term is commonly used, is poorly defined enough that you have to specify what it means here. Is it any kind of market? Is it large corporations? Is it every interaction being purely voluntary (somehow)? If you consider a big Soviet firm like Gosbank a “corporation”, all three could also be socialist depending on who you ask.
Since this is .ml, for the classical Marxist definition that it’s “private ownership of the means of production”, the arguments are mainly against the proposed alternatives, or just that private vs. personal is hard to demarcate, and nobody wants to share a toothbrush.
Our retirement is tied to it.
my retirement is non-existent
Maybe you should be working to fix that.
This is the answer, right here
Many people do not grasp the sheer size of the disparity between the truly wealthy and everyone else.
They really think billionaires are like them, the only difference is that someone else goes to Walmart for them
Billionaires are like everyone else. That’s the reason I don’t look up to any. They’re just as human as I am. No amount of money can ever make them anything else or anything more. They have access to an absurd degree, and they can afford far, FAR more, but they will never escape their base human nature. Almost anyone can be a billionaire. Some current billionaires prove that every moment they open their mouths.
Or they take capitalism as good and freedom as an axiom.
Most people will take “freedom” as an axiom, but how “freedom” is defined varies a lot. In a society where the commons are pretty much fully enclosed and you are homeless, the petite-bourgeois may very well be free, but you really aren’t.
I believe your comments is just a paraphrase of: “They are being stupid”
In my opinion this is a very toxic way of thinking and does not try to understand the arguments “the other side” presents.
I don’t think it’s that bad-faith. I myself still find it positively mind-blowing to comprehend when the data is right in front of me.
Someone might equate wealth to hard work, but it hasn’t really hit them, the real literal difference between 1 million dollars, and 1 billion, and then the news is talking about “trillionaires.”
There’s just no way to earn a billion dollars, to yourself, through honest work and by not exploiting others. And I think a lot of folks really don’t realize this. They know that’s a lot, but they might change their mind and realize how outrageous it is, when you present them with something like:
“Joe, you could get 3 more promotions and work 80 hours a week for 13 lifetimes and still not earn that much. Do you really think this is just petty jealousy at play?”
They might just change their mind.
But a lot of folks grew up in a time or place where people who ran the company started at the bottom, and it really needs to hit them hard that this just isn’t reality anymore.
what if it was me
I guess the central premise of capitalism is that while every society has its haves and have nots, capitalism is supposed to encourage the haves to invest in the economy rather than hoarding their wealth. In return, they stand to get even wealthier, but a stronger economy ought to generate more employment and generally improve the lives of commoners as well.
Unfortunately, in a never-ending quest to make wealth-generation more efficient and streamlined, employment is being eliminated through automation, outsourcing, etc. and the system is eating itself out from the inside. I doubt it can persist much longer, but what will replace it remains unclear. I pray that it will be something sensible that ensures everyone has their basic needs met and can still find rewarding pursuits in life. But there are so many ways it could go very wrong, and that includes staying on the current course.
I guess the central premise of capitalism is that while every society has its haves and have nots, capitalism is supposed to encourage the haves to invest in the economy rather than hoarding their wealth. In return, they stand to get even wealthier, but a stronger economy ought to generate more employment and generally improve the lives of commoners as well.
Nitpicky, but that’s the premise of Liberalism, not Capitalism. Capitalism emerged not because it was an idea, but an evolution in Mode of Production. Liberalism is the ideological justification.
Unfortunately, in a never-ending quest to make wealth-generation more efficient and streamlined, employment is being eliminated through automation, outsourcing, etc. and the system is eating itself out from the inside. I doubt it can persist much longer, but what will replace it remains unclear. I pray that it will be something sensible that ensures everyone has their basic needs met and can still find rewarding pursuits in life. But there are so many ways it could go very wrong, and that includes staying on the current course.
Have you read Marx? He makes the case that due to Capitalism’s tendency to centralize and form monopolist syndicates with internal planning, the next mode of production is Socialism, ie public ownership and planning of the syndicates formed by the market system.
I assume they think they will be able to achieve the same status in the game that’s designed to literally oppress them and make them think they are cared by the billionaires.
It’s the American dream. What is the quote? We’re all embarrassed potential millionaires?
That’s why the “hustling culture” is so important and prevalent in our society right now.
Everyone “knows” someone that made bank with either youtube, selling some pyramid-scheme product, bitcoins, some collectibles, craft beer, lottery… you name it.Social media (and before that was TV) is selling us the idea that there’s a shortcut to becoming rich, you just need to find it, hustle, and you will become one of the rich persons.
That’s also why there’s so much cult of wealth and billionaires.
That said, a large portion of Millennials and after them have a rather negative view of billionaires and are rather skeptical of becoming rich, or even becoming home owners.
The worst one is Real Estate agent. Oh god I hate them so much.
Something like “Temporarily inconvenienced billionaires” I think?
This has been studied, and the ‘temporarily embarrassed millionaires’ idea is actually wrong.
The real reason is because some people (especially conservatives, because it’s a core part of conservative ideology) believe that in order for society to work, a hierarchy must be maintained wherein the ‘deserving’ are at the top, and everyone else is in their rightful place. Any threat to the natural hierarchy will undo the societal order and bring chaos and carnage.
This is why Obama becoming president was such an affront – because his presence outside his ‘rightful place’ was an existential threat to the natural order.
This belief has its roots way back when feudalism began to fail and the moneyed classes needed to find a new way to retain their power – both capitalism and conservatism were born at that time, with ideologies shifting from birthright to ‘earned’ status, which enshrined the haves and have-nots into literally sacred structures of meritocracy and social darwinism, and colonialists specifically fostered strict adherence to the social order. It became ingrained culturally that adhering to your station, whatever it is, is crucial for society to function. That there’s honour in being a cog in the machine, and that not accepting your lot in life is a danger to everyone. (eta: this is mostly subconscious, but you can see it if you ask ‘why’ enough times of someone who idolises Musk, for example. You’ll eventually whittle them down to these themes.)
That’s a nutshell view of a complicated topic, but these people don’t believe they’ll strike gold one day. They believe people who are rich deserve to be treated as kings, for the same reason monarchist peasants did.
Any pointers where I can read more about that?
One place to start is this article from the Stanford Encyclopaedia on Philosophy: Conservatism.
It’s a lengthy read, but enlightening.
One highlight from the summary:
Most commentators regard conservatism as a modern political philosophy, even though it exhibits the standpoint of paternalism or authority, rather than freedom. As John Gray writes, while liberalism is the dominant political theory of the modern age, conservatism, despite appealing to tradition, is also a response to the challenges of modernity. The roots of all three standpoints “may be traced back to the crises of seventeenth-century England, but [they] crystallised into definite traditions of thought and practice only [after] the French Revolution” (Gray 1995: 78)
I recommend reading the sources linked in that article, as well.
eta: It’s worth noting that societies worldwide often see a resurgence in conservatism in response to social change, crises, and civil rights movements, which are without fail a fear response to threats to the social hierarchy. We can see this in real time.
Many reasons. One major factor imho is the belief or illusion to be living in a meritocracy. Which would mean, that someone who’s rich has to have earned it and therefore criticism must stem from envy or jealousy. The same belief fuels the ideology of thinking of poor people to just be lazy leeches on society.
About defending capitalism (and not billionaires - who more often than not abuse this system). Some of us lived in other systems. And we understand any other system is way way way way worse.
There are however a lot of problems with capitalism and should be held on a very short leash. Or else monopoly happens. The most effective actions to keep capitalism at bay: strong anti-trust laws, strong worker protection (this includes a lot of stuff), wealth tax.
And be aware there are many flavours of calitalism. Most commonly people in USA are the most extreme where you have really “long leash”. And people see such capitalism as failing and want to replace whole system.
There are however a lot of problems with capitalism and should be held on a very short leash. Or else monopoly happens. The most effective actions to keep capitalism at bay: strong anti-trust laws, strong worker protection (this includes a lot of stuff), wealth tax.
Capitalism eats the leash, you can’t avoid this.
As the above commenter mentioned it is possible to stop it eating the leash so to speak. The main problem is keeping all of those protections actually in place. We don’t seem to want to codify worker rights or anything else important to the constitution.
Correct!
Stick a finger up its butt and the leash will get spit back out? I think I read that somewhere, not sure if it works.
This is simply not true. And whole EU is doing this more or less effectively. But your government has to be very very careful since this sure can happen.
In recent years we have seen degradation of this leash. But EU commission started keeping up with global monopolies.
I believe also in USA they are making some antitrust changes after a few decades of sleeping.
In recent years we have seen degradation of this leash.
Proving me correct.
Read all my statements again. And apply strict mathematic logic.
Few years of degradation of antitrust laws and some effective reforms in this year alone does not in any way prove your point.
It absolutely does. Follow the trends and the mechanisms.
Many don’t even do it intentionally, they just don’t grasp concepts like Historical and Dialectical Materialism, which requires reading lengthy books to fully grasp. They may be anti-Capitalist at heart, but without a solid understanding of theory they play into bourgeois hands.
There’s also the fact that the ideas held by society are a reflection of the Mode of Production.
Pretty sure they’d take everything you just wrote and say, “that sounds like critical race theory, which Jesus said was bad.”
Sure. The de-industrialization of America has been devastating for class awareness.
What de industrialization?
US is second largest industrial output and it has been rising.
Unless you mean jobs after NAFTA and code changes… Which is true but manufacturing employment is on the rise post covid reforms
The US shifted the vast majority of its production overseas, which is why it’s seen as a “service economy.”
US did offshore no doubt but it was not a vast majority. You can check the numbers, there was some decline in employment but US has high tech factories and industrial base is now growing quickly even with job growth since covid.
The reason it is largely a service economy is due to growth in service sector after industrialization. Once people got all their needs with goods met, they started buying service.
Think about all the food joints we have now for example. This is fairly recent thing. Sure food out always existed but not like this.
Also, people have god walkers, people buy insurance etc all this is kinda recent in big picture thing
I am aware of the process, the US produces the vast majority of its commodities oversees before “finishing” or “assembling” in the US. It’s Imperialism in action, where it hyper-exploits the Global South for super-profits.
Right but we started this here with claim that US de industrialized which I saying is not accurate and it is a common misconception thrown around.
It doesnt even require that much reading of such subjects. All it takes is to not be brainwashed by media and politicians.
Critical thought and self awareness is all it takes
I’m sorry, but I entirely disagree. Dialectical and Historical Materialism are incredibly far-removed from standard American discourse and takes quite a bit to understand, oversimplifying it is dangerous. If all it took to be a Marxist-Leninist was critical thought and self-awareness, the US would have had a proletarian revolution already.
Usually it’s my friend Cowbee here who tells people to read things, but here I will:
https://redsails.org/masses-elites-and-rebels/
“Brainwashing” is a reactionary myth (that originally comes from orientalist stories of Chinese hypnosis that were used to explain-away defectors in the Korean war) that is used to position the believer in a position superior to the masses (“sheeple”), and which only knows how to treat the latter condescendingly as blind followers of this or that, which is not how you do mass organizing if you want to succeed.
Should be mandatory reading, thanks for posting it!
It’s not because they think they can be billionaires, it’s because they’ve been taught (and in a minority of cases this is true) that they are better off going after the crumbs that billionaires leave them than trying some other system.
Ignorance, pride, “temporarily embarrassed billionaire” syndrome.
