All of the media propaganda and the progressive economist say that capitalism is the solution to fight against the evils of communism. But that argument goes only until wall street is on its own feet, if at any time it indeed was on its own (it could be argued that it is always standing on the feet of the American tax payer). Once every couple of decades the wall street buckles down and needs infusion of billions upon billions of dollars from the FED to get back on its feet. Depending on FED to get back on its feet is to depend on the tax payer to bail oneself out. This is not capitalism, it is communism.
The basic difference between capitalism and communism is that in capitalism none is entitled to anyone else’s economic well being but in communism each man is responsible for the others economic well being. Capitalism is about catering to self-interest in such a way that everyone caters to their self-interest, communism is about catering to the other’s-interest.
In a recent interview with Bill Gates about the global economic down turn and what impact it would have on his development work in the third world countries, he was asked a question. “Now that the American way of running the economy has failed, wouldn’t the other countries say ‘why do you want to do this the American way, after all it has failed’?” Gates replied “No, I don’t think so, I think the other countries would like to have the kind of problems that America has… (it is better than the kind of problems they have)”.
I was immediately reminded of the late Russian thinker, Alexander Solzhenitsyn’s classic Harvard lecture which earned him a boycott from the western elite, where he said
“But the blindness of superiority (of the west) continues in spite of all and upholds the belief that vast regions everywhere on our planet should develop and mature to the level of present day Western systems which in theory are the best and in practice the most attractive. There is this belief that all those other worlds are only being temporarily prevented by wicked governments or by heavy crises or by their own barbarity or incomprehension from taking the way of Western pluralistic democracy and from adopting the Western way of life. Countries are judged on the merit of their progress in this direction. However, it is a conception which developed out of Western incomprehension of the essence of other worlds, out of the mistake of measuring them all with a Western yardstick. The real picture of our planet’s development is quite different.”
America, though it considers capitalism as the ultimate ideal for economic and social development, has to resort to communism to stabilize itself because of the imbalances created by the capitalistic ideals. Without communism, capitalism will buckle down into an everlasting demise. When communism comes to the rescue, the tax payer takes it upon himself to rescue the mismanaged financial firms whose CEO made millions of dollars for that asset management credentials. The financial firms somehow by a sudden change in the mood become entitled to the tax payer’s money. Capitalism suddenly becomes communism.
And wall street, the paradise of capitalism, gets back on its feet, thanks to the ‘transient’ communistic mood, and it again gets back on its capitalistic ideals of ‘individual self-interest leading to collective good’, only to find itself playing a different ball game of communism a couple of decades when it buckles down. Spat comes the ideal of communism to the rescue.
The problem is that the western world simply fails to understand that greed and self-interest cannot give the right ethos for life in the long term. No matter how many lessons we learn we are never able to unlearn that the ideal of ‘individual self interest leading to collective good’ is simply not right for life.
It is a classic irony of every age that the icons of capitalism of each age whether it is Rockefeller, Bill Gates, Warren Buffet, all of them after having reached the pinnacle of capitalism by seeking self-interest and resorting to ruthless business strategies, have to espouse communism to make some sense of their life. This again proves that that ideal of goodness of greed and self-interest does not really make sense in life in the long term, but then this is another of the lessons that will never be learnt.
The bottomline being that for capitalism to be a long term way of life, communism as to be its life-line. Selfishness cannot exist without large doeses of selflessness and in that 700 billion dollar bailout what it is the large dose of selflessnes of the American taxpayer that compensates for the selfishness of the wall street executive who rakes in million of dollars. This capitalism at work, this is capitalism standing on the feet of communism, as against capitalism working against the evils of communism as the media elite would like us to believe.