capitalism

capitalism


America’s Social Safety Net Is Embarrassingly Inadequate

social safety net April 17th, 2020

America was cruising along in the early part of the year, Trump touting the amazingly low unemployment and extremely high Dow Jones Industrial Average. Companies were making profits, and things were moving in that generally-optimistic direction. Infrastructure was being neglected, health insurance was a damnable mess, and Americans were probably more divided that any time since the tumultuous 1960s. Then, a bat’s DNA and some other animal’s DNA combined in a pernicious and horrifying way in some God-forsaken food market in Wuhan, China. All hell broke loose.
Instead of landing in a well-constructed and life-saving social safety net, millions of Americans are out of work, depressed, socially strained, and terribly pessimistic.
This blog features some markers of where we are, economically, in this, the worst economic disaster since the Great Depression.

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Critiques of Capitalism (Part 1)

critiques of capitalism January 30th, 2020

This blog is based on a paper entitled: Critiques of Capitalism. It is one of five parts in a series that takes a long, hard look at the economic system we have in modern America. Whether it goes by the descriptor free-market capitalism, laissez-faire capitalism, neoliberalism, classical liberalism, libertarian economic philosophy,  or its illegitimate children – crony capitalism, supply-side economics, or trickle-down economics – the economic theory that America is based on has a long, significant, storied past. Here is the introduction to the paper, Critiques of Capitalism:

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What Do We Deserve? Moral Desert & Entitlement

moral desert January 21st, 2020

What does a person – let’s confine it to Americans in this blog – deserve? In philosophy, it is termed moral dessert. That is, as a member of society, what rights does one have to goods and benefits and opportunities? Contrast dessert (sometimes spelled desert) with entitlement – the rights one has based on law, contracts, and agreements. In this piece, I want to dilate on this topic, and to that end, will share a brief discussion a friend and I had. You may not be surprised to learn that I take a generally liberal position, and my friend, a fairly libertarian one. I am more likely to see, optimistically, that people deserve opportunity, chances, and help from society at large (i.e., the institutions of government and associated social welfare provisions). You can expect, of course, to see apt quotations brought to bear on the dialogue.

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Are Human Beings Selfish?

are human beings selfish? October 23rd, 2019

I thought about the question, Are human beings selfish?, when I received this snippet of an article from a friend: “Advocates of capitalism understand, as the classical economists understood centuries ago, that government and social institutions must be designed for the human beings that actually exist — callous self-interest and all.” That thought, from The Mises Institute, a capitalistic/libertarian think tank, is making a fair point that can be examined to see how fully and completely true it is. That is what I will do in this blog. As a sneak peek, my answer to the question, Are human beings selfish? will be “Yes, to some degree, but not to the exclusion of all other high values.”

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The Values I Bring to My Work

the values I bring to my work August 25th, 2019

You have heard of the “Protestant work ethic”, I imagine. Or, “Diligence is the mother of good luck.” The Hard Rock Cafe’s motto is “Love Ever; Hurt Never”. “Early to bed, early to rise, makes a man healthy, wealthy, and wise” claimed Benjamin Franklin. The fable of “The Ant and the Grasshopper” by Aesop teaches the value of hard work and earnestness. I, too, have values I bring to my work as a real estate investor. Some I aspire to; some I adhere to better than others; some I actualize on a daily basis. Most would probably fit into the scheme I call “the values of the wise“: values that the quintessential wise person would probably tend to have. My area of professional focus has for a decade been real estate investing (REI). Brian Buffini believes that “Real estate is the purest form of entrepreneurship” so here are some thoughts on the values I bring to my work as an investor:

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Confidence & Creativity: Commonwealth Cafe

confidence June 5th, 2019

I met a remarkable guy in 2007. He was an entrepreneur, a risk-taker, and a leader. His sense of humor, his dedication to build something wonderful led to us building and running a wonderful diner, named Commonwealth Cafe. Those days of working extremely hard, reaching to come up with the right plan, and having a lot of fun are treasured by me now, though there is also a deep pain. The licks I took on the project and the skills I learned have paid dividends in subsequent years. It isn’t easy to suffer a major loss, but there was so much merit to the Cafe while it was being built, promoted, and run. It was a really soulful and special place. Leighton Hollingsworth will always have a special place in my heart. We both created a bit of heaven on earth, and went to hell and back.

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Old-School Honor and Integrity

honor and integrity March 14th, 2019

I have incredible respect for “old-school” honor and integrity. I fear that it is either American decadence or simply a low point we are experiencing since 2000 that accounts for why people feel that their word doesn’t mean much, that they needn’t put in the effort required to be a person of high character and live a life that is totally in integrity. This is my lamentation lately! I am really let down today, emotionally. Am I being too hard on everyone I have ever met, or are honor and integrity too much to expect from people? 

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Society Needs Economic, Social, Political Change

society January 29th, 2019

Three things came across my desk in a mere two days that made me feel like I needed to blog about capitalism again. I have critiqued America’s capitalistic society many times under the heading Social and Economic Justice here on this blog. The three sources that inspired this blog are: economist and Nobel Prize winner, Paul Krugman writing a piece entitled “Elizabeth Warren Does Teddy Roosevelt”; a surprising critique of capitalism from none other than Tucker Carlson (!); and a wonderful statement by “The Wizard of Omaha”, Warren Buffett. Here is enough about each of these surprising and refreshing ideas about the limits of capitalism in modern American society.

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Fake News in Trump’s America

fake news January 26th, 2019

Throughout the country’s short existence, the most authoritarian Presidents have been, in order: John Adams, George Dubya Bush, Woodrow Wilson, Andrew Jackson, and Donald Trump. There are grumblings on the Right that Obama was somewhat abusive of his power, and I think that case can be made (certainly, journalists and Freedom of Information Act seekers were very disappointed in him). I intend this essay to be about the psychology underlying political beliefs, and the hot-button topic in this realm is, perhaps with a plethora of absurdity, uttered by Trump almost daily: the term fake news. Trump most likely coined the term fake news, and though he is but a con-man, truth, lies, and deception predate him – laying bare the idiocy of our whole politico-cultural system.

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The Profit Motive, Deregulation, and Financial Crisis

December 20th, 2018

I just watched a great documentary by Vice on HBO called Panic: The Untold Story of the 2008 Financial Crisis. Anyone who watches that, The Corporation, Inside Job, Margin Call, and The Commanding Heights will be well-schooled on how the financial services industry works and how it fails to work. In this blog, I want to briefly describe the Great Recession and the resultant Tea Party movement, which is tied in to the Trump phenomenon. The profit motive, financial deregulation, elitism, politics, and the Great Recession have something to teach us if we are to avoid another, potentially catastrophic meltdown. 

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