Chris Hedges: The Capitalists Are Afraid

Mr. Fish / Truthdig

"Personal ethics are irrelevant. Capitalists are about acquisition and exploitation."

Chris Hedges, Truthdig - September 9, 2019

Capitalists seek to maximize profits and reduce the cost of labor. This sums up capitalism at its core. It is defined by these immutable objectives. It is not about democracy. It is not, as has been claimed, about wealth creation for the working class. It has nothing to do with freedom. Those capitalists, especially in corporations, who are not able to increase profits and decrease the cost of labor, through layoffs, cutting wages, destroying unions, offshoring, outsourcing or automating jobs, are replaced. Personal ethics are irrelevant. Capitalists are about acquisition and exploitation.

Capitalists go to absurd lengths to lie about capitalism’s true nature. It is why Business Roundtable’s most recent version of its Principles of Corporate Governance, signed by 181 major CEOs—including the heads of Amazon, General Motors and Chevron, all three of which paid no federal income tax in 2018—rivals the doublespeak of the worst totalitarian regimes of the 20th century.

If maximizing profit means turning the oceans into dead zones, filling the atmosphere with carbon emissions and toxins that render the climate unfit for humans, pumping chemicals and waste into the soil, water, air and food supply that ensure that cancer is an epidemic, buying off elected officials and judges to serve the exclusive interests of capital and privatizing social services, including health care, transportation, education and public utilities, to gouge the public, that is the price of business. If reducing the cost of labor means forcing workers to remain unorganized and abolishing work, health and safety regulations, if it means moving industry overseas where foreign workers toil like 19th-century serfs, if it means suppressing wages at home to force an impoverished population into debt peonage, that is the price of business.

It is not accidental that the United States now has the worst income inequality since the 1920s. This was engineered by the capitalist class. But what Business Roundtable’s Aug. 19 statement reveals is that the capitalists are frightened they have been found out. Capitalism free of external restraints and with no internal restraints will pillage and exploit a captive population until it rises up in fury. It is such an eruption that today’s capitalists worry is on the horizon.

Capitalism, because it is such a socially destructive force, saturates the media landscape with advertising to misinform and manipulate the public. It uses its vast wealth to buy up the press, domesticate universities, nonprofits and think tanks and demonize and muzzle its critics. It funds pseudo-intellectuals and pseudo-economists who tirelessly propagate the ideology of neoliberalism, the belief that transferring wealth upward into the hands of the ruling oligarchs is beneficial to society. It forms global monopolies that prey on the public. It wages endless wars in its quest for profit. It equates anti-capitalist agitation with terrorism ...
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