RACISM AND CAPITALISM: “Richard Pryor 40 Years Ago: Promoting Racism is Part of Capitalism” / truthdig ☮

Late great comedic prophet Richard Pryor speaks to Bill Boggs about the real issues that continue to plague societies throughout the globe. Crony capitalism and the bank bailout, socialism for the rich.

h/t: truthdig

MUST READ: “Capitalists of the World, Unite!” / truthdig / Mike Krauss ☮

CAPITALISM

The other night I watched The Greatest Cable News Program That Absolutely Ever Was. The host was extolling the virtues of capitalism, repeating the claims you can read in The Economist or Wall Street Journal; that capitalism has lifted many millions out of poverty worldwide.

The same broadcast also reported that most Americans “could not lay their hands on $1,000” in an emergency. That figure may be on the high side. Other published reports put it at $400, including what may be available on a credit card.

The program host missed the contradiction. You can’t be a capitalist without capital. The overwhelming majority of Americans don’t have any, and are completely excluded from the “benefits” of the capitalist system he extolled.

Capitalism is not a form of government. It is a system of wealth management. It does not create wealth, but only allocates it. It is indifferent to the welfare of people. It has no social purpose. Private profit is everything.

Continue reading . . .

PLUTOCRACY: “Stephen Hawking Says We Should Really Be Scared of Capitalism, Not Robots” ☮

Stephen Hawking

“If machines produce everything we need, the outcome will depend on how things are distributed. Everyone can enjoy a life of luxurious leisure if the machine-produced wealth is shared, or most people can end up miserably poor if the machine-owners successfully lobby against wealth redistribution. So far, the trend seems to be toward the second option, with technology driving ever-increasing inequality.”

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ETHICS: “The Predictable and Inevitable Result of Corrupt Crony Capitalism”

Austerityh/t: ॐ Collectively Conscious ॐ