Drudge Retort: The Other Side of the News
Wednesday, December 12, 2018

Capitalism as an economic system is without morals of any kind. Like the algorithms Wall Street whiz kids create, capitalism does not know right from wrong. But, those who use those algorithms do. The politicians and administrators in Washington, DC also know right from wrong. Alan Nasser's recently published study of Overripe Capitalism: ‘American Capitalism and the Crisis of Democracy' is an economic and political history of the United States. It considers the economic order and political structure together. There is a close, intricate relationship between the two. The likely future for the United States is not democracy, but fascism. The pursuit of profit has blinded stronger men than Donald Trump. That pursuit has created an economy that does not fill the needs of all the people. As always, corporate owners, managers and investors are determined to squeeze as much labor for the fewest pennies to increase their profits.

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The first economic period includes the decades of the late nineteenth century up to and including World War One. It is defined by corporate and financial growth and monopolization. Most profits in this period were reinvested in machinery and factories to increase production. The years were marked by increasingly intense exploitation of labor which led to labor rebellion. The second economic period began in the 1920s. This period is marked by an economic dependence shift away from increased production to increased consumption. This era was called the Roaring Twenties. More people were buying habits were shifting from staples to things, especially automobiles. That consumption was not paid for with higher wages for workers, but with expanding credit and unregulated stock manipulation, which caused the 1929 crash and Great Depression. Then FDR created the New Deal, which preserved capitalism by giving workers protections. But what really saved capitalism was Keynesian economics, when the US military entered World War Two and the war time production skyrocketed. The third economic period, neo-liberalism, began with Carter and was accelerated by advances in technology which has rendered the working class more irrelevant than ever. The capitalist command of the American State (Fascism) is the triumph of persistent political efforts control the State. The police are essential to maintaining stability.

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"As always, corporate owners, managers and investors are determined to squeeze as much labor for the fewest pennies to increase their profits."

Labor is the least expensive ingredient of most projects but the easiest cost to manipulate. That's why labor unions were formed. Then labor got greedy when they figured out that their solidarity was the driving force behind manipulating their clients. This is the reason that right-to-work laws were passed, they gave the employers an advantage to break up the union's solidarity and manipulate labor. Then employers figured out that, with the help of politicians, they could move their operations to third world countries and exploit the labor there.

The moral of the story is, don't be greedy.

#1 | Posted by lfthndthrds at 2018-12-13 07:42 AM | Reply

Capitalism as an economic system is without morals of any kind.

That is pure BS. True capitalists treat others as they want to be treated.

"I swear by my life and my love of it that I will never live my life for another man nor ask another to live their life for mine."

Guess who.

#2 | Posted by Sniper at 2018-12-13 10:45 AM | Reply

You can have Capitalism and Democracy OR Crony Capitalism and Socialist Democracy.

We have been, and are heading faster toward Crony Capitalism.

How do we know ....

When the 08 recession hit the US, DC was pretty much the only place left unscathed.

Labor is the least expensive ingredient of most projects but the easiest cost to manipulate.

It depends, there is a mathematical optimal ... if it was the least expensive they wouldn't be buying production enhancing technology.
www.khanacademy.org

Then employers figured out that, with the help of politicians, they could move their operations to third world countries and exploit the labor there.

This is why tariffs against Countries that don't conform to our environmental standards and work standards are legit, IMO #FairTradeNOTFreeTrade.

#1 | POSTED BY LFTHNDTHRDS

But basically thats my model, as well, Unions got greedy. Where are the powerful unions today? Public Unions, where the labor can't be moved, and notice it just gets more and more expensive as politician kick the can down the road.

I am involved in a teardown/knowledge transfer of a software development center here in SanJose, I see around the world the costs of engineers/PO/PM from Ukraine, Croatia Poland, China, India. As they spread all of our development to these locations, you can't help but see the communication breakdown.

It would have been better if they sent it to just one location. But managers at the high level only see numbers, not relationships; its strange I have never met one that understood this, its like where did they come from? :)

We don't have a union, but we have constrained resources on engineers and our costs are pretty high here in SiliconValley,relative to RoW. I have noticed a trend towards a bifurcation in the type of companies, either they are a startup (

#3 | Posted by AndreaMackris at 2018-12-13 11:19 AM | Reply

"It depends, there is a mathematical optimal ... if it was the least expensive they wouldn't be buying production enhancing technology.
www.khanacademy.org"

It depends on what type of project. Materials in many projects are astronomical in comparison to labor.

#4 | Posted by lfthndthrds at 2018-12-13 11:26 AM | Reply

- You can have Capitalism and Democracy OR Crony Capitalism and Socialist Democracy.

Andy keeps topping her Dumbest Things Ever Posted Here record.

en.wikiversity.org

www.thedailybeast.com

#5 | Posted by Corky at 2018-12-13 11:31 AM | Reply

#5 | POSTED BY CORKY

You can either have a civil conversation or not ....

Your inability to hold your anger back is interesting though.

#6 | Posted by AndreaMackris at 2018-12-13 11:43 AM | Reply

It depends on what type of project. Materials in many projects are astronomical in comparison to labor.

#4 | POSTED BY LFTHNDTHRDS

Agreed, thats why its a "depends"... it also isn't an either or, meaning over time labor in unskilled is getting cheaper and cheaper, and skilled/knowledge is getting more and more expensive. That is the way I see it.

#7 | Posted by AndreaMackris at 2018-12-13 11:44 AM | Reply

#6

That's hilarious.... what anger? I was obviously making fun of your inane dichotomy.

And citing the facts to prove it.

Or perhaps you missed the last few decades when the the socialist SU became the crony capitalist Russia? Maybe that's why you "think" they are crony socialists, lmao.

#8 | Posted by Corky at 2018-12-13 11:48 AM | Reply

True capitalists treat others as they want to be treated.
#2 | POSTED BY SNIPER

"The lead poisoning hurts, but I could have done the same to the water company."

Snippy, is the golden rule of capitalism to do unto others before they do unto you?

#9 | Posted by IndianaJones at 2018-12-13 12:25 PM | Reply

It depends on what type of project. Materials in many projects are astronomical in comparison to labor.

#4 | POSTED BY LFTHNDTHRDS

Most construction jobs it is closr to 50 50.

#10 | Posted by Sniper at 2018-12-13 04:48 PM | Reply

(Hence the high use of cheap labor in construction. It's a much bigger cost savings there, proportionally.)

#11 | Posted by snoofy at 2018-12-13 04:54 PM | Reply

"That is pure BS. True capitalists treat others as they want to be treated.
#2 | POSTED BY SNIPER"

Trump wants hookers to pee on him.

#12 | Posted by snoofy at 2018-12-13 04:57 PM | Reply

#12 | POSTED BY SNOOFY

That's the------------- of capitalism.

#13 | Posted by IndianaJones at 2018-12-13 05:06 PM | Reply

In developed countries labor is the most expensive commodity, which is all labor is under capitalism. If you sell massive units of software, labor and manufacturing costs do approach zero, but that holds mostly for the monopoly operating systems and applications like microsoft office. Take a paint store, assume 8 employees earn 15 bucks an hour to keep the store open 7 days a week, rent is $8000/month, payroll is $19,200 plus benefits, plus the manager is making more like $10,000 a month including bonuses. Skilled labor is going for $30-$500/hr in the USA. That's why Walmart works so hard to suppress wages. Its why Corporations look to Vietnam and China to make stuff. That's why there is a relentless war on labor. Commodities like steel, plastic and gasoline trades worldwide with minor adjustments for shipping costs. Labor costs fluctuate wildly by country and have enticed the capitalists overseas.

#14 | Posted by bayviking at 2018-12-13 07:21 PM | Reply

#5, corky, Excellent post and links.

#15 | Posted by bayviking at 2018-12-13 11:13 PM | Reply | Funny: 1 | Newsworthy 1

It is impossible to program abstractions and analog thinking.

#16 | Posted by kudzu at 2018-12-14 10:48 AM | Reply

Snippy, is the golden rule of capitalism to do unto others before they do unto you?

#9 | Posted by IndianaJones

You are full of the brown smelly stuff ind. No sane person would set themselves uo for that.

#17 | Posted by Sniper at 2018-12-14 12:24 PM | Reply

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