Like many other people these days, I’m asking a lot of questions, and I’m not finding too many satisfying answers. But that doesn’t matter. We should all be suspicious of quick—and satisfying—answers. While it might produce a kind of temporary euphoria, the tendency to try to solve our problems quickly and neatly is precisely what seems to have landed the world in this precarious position, with climate changes staring us in the face as we confront unprecedented human migration across increasingly hostile borders. It is a scary place to be.
One question I’ve been asking is this: could capitalism, with its emphasis on constant growth and acquisition of wealth, be the evil spirit lurking behind this state of affairs? This is a difficult question to consider, and it’s likely that few people will be brave enough to confront and admit such a question. (For curious readers, here is an article in last week’s New Yorker that explains, at least in part, why new ideas and self-criticism meet such resistance.) But it’s worthwhile to lay out a few arguments for this menacing explanation, even if not many people take the time to consider it.
First of all, capitalism, with its emphasis on garnering profit, depends on constantly expanding market shares. It doesn’t work in a static environment; in order for a capitalist economy to function well, it must grow. And yet, as any observant person realizes, constant growth simply isn’t sustainable. Eventually the market place becomes saturated. When that happens, there are few options for the capitalist enterprise: either it expands its market—in which the same thing will happen a few years, or decades, later—or it works to cut out competitors and appropriate their growth and their profit. It doesn’t take a rocket scientist, or an economist, to determine that this process isn’t feasible for long-term stability in a society dedicated to equity and the pursuit of happiness.
And that brings up the second problem with capitalism as it has developed. The acquisition of profit and material goods seems to be insufficient for the kind of capitalists, the captains of industry, we have created in recent years. In other words, the most successful capitalists have become so wealthy that it is ludicrous to suppose that they are intent on gathering still more money, or luxuries, for themselves. How many mansions are necessary for a person’s, even a family’s, happiness? Is it really necessary for Mark Zuckerberg to own 700 acres of prime Hawaiian land—and to sue longtime landowners to make sure that his privacy on this new piece of property is inviolable? One theory about the tendency of the super-wealthy to engage in this kind of action this states that capitalism’s great heroes and heroines garner not only wealth for themselves, but happiness as well. And, since happiness is not as easy to gauge as material wealth, the best way to determine whether one is happy is to compare oneself to those who are not happy. This, in essence, is what capitalism does: it takes happiness away from people in order to create a sense of happiness in the capitalist, who, numb to the thrill of wealth and plenty, cannot determine whether he is actually happy unless he can be sure that there are others who have been made unhappy by his own acquisitive actions. This view of capitalism presents it in a horrifying, sordid light. It goes something like this: once their quest for great wealth has met with success, capitalists create another quest for themselves: that of acquiring the happiness of others. This kind of theorizing leads to a truly disconcerting question: What if the “pursuit of happiness” mentioned in the Declaration of Independence, and so dear to every American citizen, has become a literal pursuit, in which the happiness of others becomes fair game for pursuing? This frightening scenario, in which capitalists resemble Dementors more than anything else, may well be taking place in our society.
But we need not enter the world of Harry Potter to find a third reason to reexamine capitalism in our time: it appears to be antithetical to the idea of ecological conservation. I could argue this carefully, in a step-by-step demonstration of the ways in which capitalism abuses the natural environment, but this is quite unnecessary, with stories like Standing Rock, Line 5, the Kalamazoo River oil spill, fracking, and other items in the news. We all know that big business cares little about the natural resources it uses, regarding these resources like factory machinery as it tries to figure out a way to produce still more oil for an ever-growing market. The argument that capitalism stands in opposition to safeguarding our environment has undoubtedly been made before, and it is unnecessary to go into it at length here.
Instead, I would like to offer a fourth reason that capitalism may be the enemy. It depends on competition, maintaining that competition brings out the best in people. But even Darwin, as this article in The Guardian points out, believed that cooperation was at least as important in evolution as competition.
I have little hope that I can change anyone’s mind about capitalism. Most Americans cling to their belief that it offers us, and the world at large, the best way to live—period. Besides, changing our ideology would be too great a task to undertake.
Or would it?
As we encounter more and more crises, sooner or later we will have to face the fact that Americans are not always the good guys, as we have been taught to believe. Ideology is a difficult veil to penetrate—in fact, it may be impossible to penetrate the veil at all, and we may have to be satisfied with shifting it aside from time to time to try to catch a mere glimpse of the truth. Denying the efficacy and value of capitalism is a scary proposition, and doing so necessitates that we decide what will take its place—another scary proposition. It will take some time to reach the point where we can face these difficult ideological problems. But I believe we will get there. For now, let’s start by admitting that the old comic strip from 1971 was right: “We have met the enemy, and he is us.”
6 thoughts on “Could Capitalism Be the Enemy?”
American Capitalism is no longer about the efficient utilization of resources. It has become about the restriction of resources for others. It is now about the creation of misery, for it is by making others live in misery that you know that you are successful, wealthy, powerful, and happy.
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Interesting thoughts, Suzanne. Even Adam Smith cautioned against the excesses of capitalism but that has pretty much been forgotten in the rush to hoard as much money and wealth as possible. I’ve always felt like a mix of socialism and capitalism would best serve the common good but those in power have done a great job of demonizing the s-word over the years.
I like your argument here; it seems to have a lot of merit. Are you suggesting a different form of governing, because that is something I can completely agree is needed. I think the democratic socialist approach has something to it, but it also leaves a flaw. In that system I fear over time it would develop similar to how democracy has developed in America over the past 200 years. With business tycoons and families fortunate enough early in the history of the country amassing most of our wealth and a good portion of the rest living in poverty, something needs to change. Those living in poverty surely outnumber those in relative power and at this rate of disparity it is sure to come to conflict between the two diametrically opposed factions. A small part of me feels that a second civil war between these two factions may be inevitable, although I would sincerely hope that something can be done to rectify this situation before it gets that bad.
Marc and I have long been proponents of Free Market Socialism as it takes the best from both economic systems. Socialism protects the people and the environment, but the free market subordinates problems of the government controlling markets.