Radical communism says that everybody owns everything and that nobody owns anything. However, its recent interpretation suggests that the government owns everything, while the people own nothing.
While the government gets what it needs and keeps what it wants, the people may have only what was left. While the government does what it likes, the people are expected to stay out of its way and rejoice with whatever comes their way.
This, as radical communism dictates, will make everybody—the government and the people—happy.
On the other hand, radical capitalism claims that everything belongs to the victors while nothing are left to the losers. It reveres the wealthy and the wise while downgrades the poor and ignorant, making the rich become richer and the poor become poorer.
In this sense, modern capitalism is substantially the same with radical capitalism since its eventual measure of success is when capital earns the biggest by spending the least particularly in labor—which is the infallible result when the influence of capital wins over the power of government to its side. And this is exactly when labor is left to plead, to implore, and to beg.
This vicious cycle goes up to the extent that the vice of greed invades and conquers the throne of capital—capital and labor, business and industry, government and people—which this is precisely what is happening to the global economy.
Now, some of the frightening realities expressed in saddening terms are the following – in their right order: Depression. Bankruptcy. Panic. Bailout. Anger. Suits.
There is certainly nothing in such a progressive list that is amusing to consider, much less funny to think about.
That is why in the “Land of the Brave,” there are now loud shouts and stirring demands for public regulation of private capital.
Reason: Primarily in that Country, big greed has conquered big capital. The principle of “Laissez – Faire” has become well and much incarnate in its capitalistic system.
Translation: Leave capital alone to earn as much as possible—without consideration for the good of society, the welfare of the people—since the hands of capital have neither social dimension nor social responsibility. Let the greedy pile as much money they can, keep as much wealth they like.
Conclusion: Too bad if others are left holding empty bags. It’s a pity if many have practically nothing left. That is life.
It might not be really irrelevant to look at how capitalism actually works or operates in the Philippines—where big businesses are deregulated while salaries and labor are well regulated.
It is possible that the vice of greed—insatiable avarice and interminable covetousness for money—has already likewise invaded the world of capital in the Country.
September 24, 2008