The Greatest Capitalist Scam of the Century — Why Credit Scores are Screwing Us All Over

Samuel James White
The Startup
Published in
9 min readJun 11, 2019

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The credit score is the looming shadow that watches over all of us. If you want any form of loan, you need a credit score to back it up. Lenders that don’t care about credit scores are going to charge you high-interest rates.

The shocking thing is you even have landlords performing credit checks these days. That’s right if you have bad credit you might not even be able to rent a desirable place.

My belief is that the credit score concept is the biggest capitalist scam of this century. It’s disgusting and the way it’s taken hold of society is a disgrace.

So why has the credit score changed the game?

Understanding the Capitalist System

There are many aspects that separate a capitalist system from, say, a socialist system. Obviously, you have the free market, but you also have the credit system.

The reason why capitalist societies can grow at far greater rates than other society is the availability of fast and reasonable credit. Anyone can jump into the free market because they don’t need to use a whole lot of their own money.

And as anyone knows, you play with bigger amounts you get bigger returns. 1% of $1,000 is always going to be less than 1%…

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Samuel James White
The Startup

Writer, financial expert, and full-time traveler. Have been on the road for almost five years. Read one of my 35 historical fiction novels under James Farner.