22A004 Capitalism in the ZGS by Jim Davies, 1/25/2022


There's a terrible confusion around, about what "Capitalism" is. Very likely it stems from the indoctrination at school and college delivered by Marxist teachers. This Blog will try to clear up some of that, and will predict how capitalism will fare in the coming Zero Government Society.

One example of the nonsense that many people suppose it means: someone calling himself "Juan More" (could that mean "want more"?) posted on a reader forum this amazing gem:

You really should get off that big comfy couch and travel through Africa, South America or South East Asia. You will find people living under full blown capitalism. Don't work don't eat, get sick and can't afford the medication or the cost of a doctor's visit you die.

He conflated "capitalism" with the Third World. He could not be more diametrically wrong. The First World is relatively prosperous because it has practised a measure of capitalism, and the Third is still impoverished precisely because it has not!

Capitalism is a name for what free people choose to do. It's another term for a "free market." It is, when unimpeded, 100% voluntary. Every transaction between people takes place only if each is content with the expected result. Nobody interferes with a bias that favors one at the other's expense. That's true for labor and for goods, for purchases large and small.

It also describes how they spend what they've earned, by exchanging their labor for money. Some (most?) of it goes on the essentials and pleasures of continuing to live; and some is set aside and saved. Those savings accumulate, and can be called "capital." They can have the form of gold coins under the mattress, or deposits in an interest-bearing bank account or mutual fund, or share holdings in a company; and at some point the saver may take them and invest them in his own business, if he chooses to have one.

That invested capital is what generates new wealth, because any business grows only when its profits, plus supplements from shareholders and lenders, are plowed back to pay for new ventures; new equipment, premises etc.

Unimpeded capitalism, as in the coming ZGS, ensures that all such investment is made by those who own the capital; and hence, it optimizes the risk. Mistakes will certainly be made, hopes will be disappointed, but nobody invests capital more carefully than those to whom it belongs.

The converse of capitalism is that money earned and potentially saved is confiscated instead by government as "tax" and is spent on whatever seems most likely to prolong the rulers' enjoyment of power. There is no particular reason why that should relate to any increase in the wealth of society as a whole - only that of the rulers.

Capitalism doesn't exploit the workers, as Marxists falsely allege so as to attract support. Unless government intrudes with its laws, every hiring transaction is voluntary for both parties; if the applicant isn't happy with the terms offered he will go elsewhere, and "elsewhere" includes the option to start his own small enterprise. That's often a good idea, for he'll never find a kinder boss.

"State Capitalism" isn't capitalist at all; it's better called "Fascism." The idea is that big firms lobby government for favors that help them maintain dominance in their industry, and return the favor in the form of generous re-election gifts - which, naturally, can give it quite a bit of clout in steering the rulers' choice of what laws to enact. There is a mutual scratching of the backs. The government also skims its profits with corporation tax, so is in effect controlling and milking the firm without actually taking ownership. That differentiates fascism from communism, which does.

"GloboCaps" aren't capitalist, either. That's the name some use to refer to the sinister combo of world political and business leaders who get together in the WEF or elsewhere to re-fashion the world to their own liking; and they need each other. Multi-national firms like the protection from smaller rivals that come from international laws written to favor them, and government "leaders" salivate at the possibility of ruling not just one country, but all countries. The Covid fraud has been their opening shot in their bid for this "Great Reset." It has no resemblance to the nature of free capitalism summarized above.

None of these ill-named impostors will play any part in the ZGS - for there will be no government to grant favors, to tax or to meddle. Firms that grow well to a large size will stay big only if they continue to serve customers better than nimbler rivals - and that's very difficult; so I think it likely that in the ZGS big firms will repeatedly break themselves up into smaller enterprises. Capitalism will in any case be free, unimpeded, and enormously beneficial.

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