Capitalism Just Doesn’t Work
Debunking “Capitalism Works For Everyone”
Ra Gulamhusein recently published the articles “An Overview of Democratic Socialism” and “Capitalism Works” here on Politically Speaking, and both of these pieces contain a number of misrepresentations and untruths. As several of these misunderstandings are at the core of many problems in our society, it appears some debunking is in order.
To be clear, I don’t mean to imply any malice on the part of Mr. Gulamhusein, and this is not intended as a personal attack. As a matter of fact, I’m actually rather grateful for his presentation of these arguments, affording me the opportunity to address the ideas they contain. I’m not accusing him of lying or purposely misstating the truth, these are mostly common misconceptions that have been spread over decades.
Before we begin, it should be noted that many of the ideas supported by Gulamhusein in his article seem to imply that economics is simply a sort of scientific problem, one that has perhaps been solved. This is not at all the case, and much less so if the claim is that laissez-faire capitalism is the solution. Not to say that it is some arcane dark art, unknowable by mere mortals. It’s just typically obscured in statistics and technical jargon that most people don’t have interest in, much less time to learn.
