To followers of Ayn Rand and Ronald Reagan, and to all the business people who despise government, 'community' is a form of 'communism.' Even taking the train
is too communal for them. Americans have been led to believe that only individuals matter, that every person should fend for him/herself, that "winner-take-all" is the ultimate goal, and that the winners have no responsibility to others.
To the capitalist, everything is a potential market. Education, health care, even the right to water. But with every market failure it becomes more clear that basic human rights can't be bought and sold like cars and cell phones. The pursuit of profit, when essential needs are part of the product, means that not everyone will be able to pay the price. Some will be denied those essential needs.
Capitalism hasn't been able to control runaway global inequality
. For every $1.00 owned by the world's richest 1%
in 2011, they now own $1.27. They own almost half
the world's wealth. Just 70 of them
own as much as 3.5 billion people.
Capitalism has not been able -- or willing -- to control the "race to the bottom" caused by"free trade,"
as mid-level jobs continue to be transferred to low-wage countries.
Nor has capitalism been able to control global environmental degradation
, with trillions insubsidies
going to polluters that don't even pay their taxes, and with corporations ignoring any semblance of social responsibility as they seek ways to profit from global warming
Job Creation Failures I
With or without globalization, middle-class jobs are disappearing
, even higher-end
positions in financial analysis, medical diagnosis, legal assistance, and journalism. Artificial intelligence is making this happen. Millions of Americans have had a role in the great American productivity behind this technological takeover, but capitalism allows only an elite few of us to reap the disproportional profits.
Reports of job recovery are based on low-income jobs, many of them part-time. Layoffs
are cutting into the military and technology. Gallup discounted
Wall Street's job-creating ability. As noted by former Wall Street Journal Associate Editor Paul Craig Roberts
, the US rate of unemployment is 23 percent when long-term discouraged job-seekers are included. That's close to the unemployment rate of the Great Depression.
Job Creation Failures II
Closely related to employment woes is the collapse
of corporate investment in new product R&D, from 40 cents
per dollar in the 1970s to 10 cents now. CEOs are choosing instead tospend almost all
of their profits on buybacks and dividends to enrich investors.
Health Care Failures
The capitalist profit motive allows the cost of a hepatitis pill
that costs $10 in Egypt to sell for $1,000 in the United States, and the cost of a blood test
to range from $10 to $10,000 in two California hospitals (a 100,000% markup at the second hospital).
Patent abuse is one of the factors making this possible. Pharmaceutical companies cantweak
a drug with a minor change to create a "brand new" drug with a new patent.
Another health-related scam that affects most of us is bottled water
. According to Food & Water Watch, about half
of it is filtered tap water with fancy names, as evidenced in one case by an actual "tap water" label
on a company's product. Yet with the demise of community water fountains, and the barrage of advertising for "safe and pure" drinking water, unsuspecting Americans pay dearly: for the price we pay for a bottle of water we would be able to fill up that bottle a thousand times
with tap water.
Because of the "invisible hand" of the free market, in just 35 years
the investment wealth of the super-rich has gone from 15% of middle-class housing to almost 200%
of middle-class housing.
A remarkable story of privatization failure is told
in the story of charter schools in Florida, where Jeb Bush still holds dear to his delusions of free-market educational success.
That's just one example. In general
, charters are riddled with fraud and identified with alack of transparency
that leads to even more fraud. Since 2001 nearly 2,500
charter schools have been forced to close their doors, leaving over a quarter-million schoolchildren between one bad business decision and the next. A report from PR Watch
summarizes the billions of dollars spent on charters without accountability to the public.
Chris Hedges wrote
: "Human life is of no concern to corporate capitalists. The suffering of the Greeks, like the suffering of ordinary Americans, is very good for the profit margins of financial institutions such as Goldman Sachs."
People become meaningless in a successful capitalist system.
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