Lighting the way to a new economy - David Korten

[lutherj]

Equitable participation in income and ownership is, by the way, an essential foundation for democracy, for a real market economy, and for good mental and physical human health.

We were raised in America to believe that capitalism is synonymous with a market economy, democracy, and human liberty. Turns out it isn’t true. The term capitalism means rule by capital, which means rule by the owners of capital. It was a term originally coined to refer to an economy in which ownership of the means of production is monopolized by a small financial elite for its exclusive benefit to the exclusion of the interests of the rest of the society. That is the true meaning of capitalism. It is what we have and the consequences are clear.

As Wall Street so clearly demonstrates, capitalism seeks monopoly control of every aspect of daily life to avoid market discipline and uses its money and lobbyists to circumvent democracy and hold politicians hostage to Wall Street interests. Far from being the champion of markets and democracy, capitalism—rule by big money—is the mortal enemy of both.

We are constantly told that the only alternative to rule by Wall Street capitalists is to sacrifice our individual liberty to rule by Communist bureaucrats. We are not supposed to notice that in fact the obvious alternative to capitalism is what capitalism promises, but does not deliver: real democracy and a real market economy, which as described by Adam Smith looks a whole lot more like a local living economy than an economy ruled and centrally planned by Goldman Sachs, WalMart, and Monsanto.

http://www.energybulletin.net/node/53387

[Ozymanithrax]

1. Mr. Korten's definition of Capitalism is wrong...

Main Entry: cap·i·tal·ism
Pronunciation: \ˈka-pə-tə-ˌliz-əm, ˈkap-tə-, British also kə-ˈpi-tə-\
Function: noun
Date: 1877
: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market

Capitalism isn't about rule. Since he can not get the definition of such an important word correct. His premise is suspect.

I will add, that "equitable participation in income and ownership" has never been part of Democracy, which is defined as:

Main Entry: de·moc·ra·cy
Pronunciation: \di-ˈmä-krə-sē\
Function: noun
Inflected Form(s): plural de·moc·ra·cies
Etymology: Middle French democratie, from Late Latin democratia, from Greek dēmokratia, from dēmos + -kratia -cracy
Date: 1576
1 a : government by the people; especially : rule of the majority b : a government in which the supreme power is vested in the people and exercised by them directly or indirectly through a system of representation usually involving periodically held free elections
2 : a political unit that has a democratic government
3 capitalized : the principles and policies of the Democratic party in the United States <from emancipation Republicanism to New Deal Democracy — C. M. Roberts>
4 : the common people especially when constituting the source of political authority
5 : the absence of hereditary or arbitrary class distinctions or privileges

Democracy, not Capitalism, is about who rules and in our early republic ownership of property was the factor that determined who could vote. (Thank President Jackson and Jacksonian democracy for democratizing who can vote.)

Words have real meaning, and Mr. Korten should not try to be humpty dumpty. And by that I mean:

“When I use a word,” Humpty Dumpty said, in a rather a scornful tone, “it means just what I choose it to mean—neither more nor less.”
“The question is,” said Alice, “whether you can make words mean so many different things.”
“The question is,” said Humpty Dumpty, “which is to be master that’s all.”

Humpty Dumpty's dictum only works for large, imaginary eggs.

***Edited to correct Korten's name.

[marmar]

2. WTF is your point?

nt

[Ozymanithrax]

4. That his inability to define words means he doesn't know what he is talking about. n/t

[marmar]

5. I think perhaps you need to read "Agenda for a New Economy"

..... I think you'll discover that he very much knows what he's talking about, silly semantic arguments notwithstanding.

[Ozymanithrax]

7. I think Mr. Korten should read a dictionary...and should cease being a..

demagogue.

[marmar]

8. Umm, okay.

nt

[Newest Reality]

3. Definitions of terms are

by consensus and agreement. There can be bias, depending on who is defining the terminology and the context. Then there is the rather fluid and life-like transformation of meaning over time. There are many examples of that.

Words are merely tools used for expression and communication, not prisons barred with strict definitions. We should not forget that all literal and verbal symbols are merely about an actuality and never the thing itself.

There is no precise definition of capitalism and the one offered is far too simplistic. I do think we could take into consideration the actual, contemporary results of the ideology behind it and acknowledge that, for the most part, capitalism is as capitalism does. Do we reject the implied results of capitalism at this stage in its utilization, as part of its definition?

The article is well written, to me. It makes its point and stimulates thought and discussion while offering potential alternatives. The time is ripe for consideration of our circumstances and options.

[Ozymanithrax]

6. Language changes over time, because social definitions change.

The society we live in does not share his definitions. Like Republicans and Conservatives, he may be attempting to change definitions to fit his agenda.

I would have no problem, if he replaced Democracy with Socialism in his description. Socialism is concerned somewhat with a more equitable distribution of money and property. Democracy does not now and never has been concerned with that. In fact, far more often than not, it is Democracy (the political system) that has given owners and money holders more of a say in government. As set up by the founding fathers, only land owners could vote.

But his apparent ignorance (or determination redefine it) of the fact that Capitalism is an economic system rather than a system of government means that what he says about other things can not be trusted, because he is attempting to be a demagogue.

By demagogue, I am trying to say is that Mr. Korten, much like Limbaugh, writes without precision because he wants to touch on the passions and prejudices of his audience.

Just because something sounds good to those of us on the left, doesn't mean we should not look closely at it and reject it if it is incorrect.

[bigmonkey]

11. So we should dismiss what you say as well?

You got his name wrong, after all. That "implies" that you have faulty language skills and all of your subsequent statements are therefore suspect.

He's giving a polemical definition. Making progress means searching for the next step, not frittering away your time denouncing missteps by others.

[babyboomer10427483]

9. I am in total agreement

WOW..what a spate of negative comments to what I consider a well-phrased, succinct summation of America as we now know it. Hit a bunch of nerves, did it? ?

[nightrain]

10. yep. It's called distraction. Distract away from the points of a fine

article to water down its impact...

[truedelphi]

12. A hearty K & R.

Capitalism as practiced by those in POWER has capitulated into consumerism/socialism, with the Big Banks getting the fruits of our labor so they can continue betting against various economies.

We do need a "new capitalism" or new economy. And to dismantle the corrupted "older version" of capitalism.