"When capitalism, the historic reference, ceased to be acceptable, the system was renamed. The new term was benign but without meaning."
And so says John Kenneth Galbraith in his book Innocent Fraud. The substitute explanation was The Market System which Galbraith states is benign and meaningless. Professor Galbraith suggests that the "Corporate System" would better define the American experience or evolution than the old "Capitalist System."
I'm not sure if Mr. Galbraith is stating that the U.S. no longer has a Capitalist System and that what once was a Capitalist System is now better described as a Corporate System or he is simply debating with the acceptability of the terms.
A Capitalist System is most often defined, as a non-governmental system. A system owned and operated by individuals and that functions independently of governments - a system that is the antithesis of feudalism, socialism, communism or whatever. It is supposedly a "free" laissez faire economic system. There are those who contend that such a system is "real" and others who consider the whole concept to be a platonic fantasy.
I am with the non-platonic school both in philosophy and economics. I do believe that powerful individuals, Capitalists, have owned the capital goods and natural assets of our nation. I do not believe that this ownership necessarily constitutes a "system" - whether that so called system is economic, social, political or otherwise.
We have always had powerful individuals who owned America's assets. In today's world it may be corporations who own America's assets, as Mr. Galbraith explains. But this ownership does not constitute any system or necessitate any dogma. It is simply a statement of what is or what has been.
Mr. Galbraith contends that by calling our system a "Free Market System" it is implied that this system is amorphous and harmless and uncontrolled. It operates much like a force of nature or by Divine whimsy. Mr. Galbraith considers this notion, concept or dogma to be fraudulent. He considers our system and what we once called the Capitalist System to be a managed and contrived system. It is manipulated and operated by large corporations and, more specifically, their managers, CFOs, CEOs and executives. He goes on to explain that owners, shareholders and boards of directors are not important - managers and executives run the show.
This is all interesting to the economists and the intellectuals but the talk down here in the street where I live is always about socialism, communism and capitalism. If it is capitalistic it is good, if it is socialistic it is government controlled and if it is communistic it is war.
We are all positive that we do not live in a communist state. Most of us think that we have and still do, live in a capitalist state. The vast majority of us are very fearful that our free capitalist state might one day be turned into a socialist state.
But what is a socialist state?
Galbraith contends that it is termed socialistic when the public sector infringes on the private sector, but what, he asks do we call it when the private sector infringes on the public sector. As an example of the private sector infringing on the public sector he cites the Military Industrial Complex and its “privatization.”
This is an interesting point. When taxpayer money is used to shore up or subsidize Military research, or to pay for storage costs, or to absorb the costly rent on huge warehouses or factories, or to pay for civilian armies (Blackhawk etc), or to pay for civilian cafeterias to feed troops at war or at peace – is this not socialism?
What about when taxpayer’s money is used to bail out banking fraud? What about when taxpayer’s money is used as incentive to business and corporations or even overseas suppliers? Is it not socialism also? Is there any large corporation still functioning in America that is not assisted by the government and the taxpayers?
Let’s face it, socialism is the name of the game – capitalism is the fantasy.
Books by Richard Edward Noble. Click on covers below for more info and purchasing instructions.
Classic Tragic Novel
Don't Laugh - This Could Have Been Your Life
Funny stories and some strange characters.
Monkey Dishes and Cocktail Fawks
My Harrowing days in the restaurant business. Great Read.
It's a Long Story
Long Short Fiction - Great stories!
Bloggin' Be My Life
"Bloggin' be My Life" contains a selection of some of my more popular Hobo Philosopher blogs.If you enjoy reading this blog, you should love Bloggin' Be My Life.
It's All About Love
It's All About Love is ... all about love. This is the 2nd book of poetry from The Bard From Chelmsford off Arlington. Every poem in this book comes with a prose introduction. If you enjoy poetry this is a simple choice. Have fun!
A Little Something
Traditional poetry from The Bard From Chelmsford Off Arlington with some poignant prose introductions. If you enjoy any type of poetry, you will enjoy this volume. Thanks.
Talking To Myself
This is my third book of poetry.
Bits and Pieces
The Hobo Philosopher - My first book using the Hobo Philosopher brand. Featuring a variety of writing styles and ideas. Look for the Thoughtful Hobo on the cover.
A Baker's Dozen
The Hobo Philosopher: My Second book of Fiction, Creative Non-Fiction and Short Stories. All varieties of short stories - lots of laughs!
Cat Point - and Them Dang Oyster People
Cat Point is the sequel to "The Eastpointer." Both books contain humorous tales about life in a fishing community on the Florida Panhandle. Lots of laughs.
Won 1st Place award for humor in 2007 from Florida Press Association. More wit, wisdom and humor from the yet to be world famous author, R.E. Noble
A Summer with Charlie - Lawrence
Fiction - Salisbury Beach, Lawrence, Mass. Featured in Merrimack Valley Magazine July /Aug. issue 2010
Travel, Humor, Commentary on migrant farm work and illegal immigration still very pertinent today.
"Just Hangin' Out Ma"
Thank God for the Street Corners of Lawrence, Mass. Anecdotes and humorous escapades about growing up in an industrial mill town in the 40s,50s and 60s.
This is the sequel to "Just Hangin' Out, Ma"
That Old Gang of Mine
This is # 3 in my Lawrence Hometown series. The series is about growing up in the 40's, 50's and 60's in an industrial mill town. Sorta like a Huck Finn goes to vist Uncle Ralph, the bus driver, who lives in a big, rundown city. Lots of fun.
Come On-A My House
This is # 4 in my Lawrence Hometown series.The old homested at 32 Chelmsford ST is pictured on the cover..
Down By The Old Mill Stream
# 5 in the Lawrence My Hometown series.
Standing on the Corner is # 6 in the lawrence My Hometown series.
The old Howard Playstead on Lawrence St.
Eat, Drink and Be Merry
# 7 in the Lawrence my Hometown series.
Honor Thy Father and Thy Mother
Classic tragic novel written from child's perspective. Deals with abuse, poverty, unemployment. Pulls no punches.
Noble Notes on Famous Folks
Humorous, satirical notes on everybody from Constantine to Bill Clinton. Inspiration: Willy Cuppy.
America on Strike
History - documented survey of labor strikes in America
Mein Kampf - An Analysis of Book One
Who are the American Nazis - the Liberals or the Conservatives?
MY NAME IS RICHARD EDWARD NOBLE. I AM A FREELANCE WRITER AND I HAVE PUBLISHED 12 BOOKS:"THE EASTPOINTER" - SELECTIONS FROM AWARD WINNING NEWSPAPER COLUMN - "A LITTLE SOMETHING" - POETRY WITH PROSE -"HONOR THY FATHER AND THY MOTHER" - A NOVEL ABOUT GROWING UP IN THE NEW ENGLAND MILL TOWN OF LAWRENCE, MASS, "HOBO-ING AMERICA" - A WORKINGMAN'S TOUR OF THE U.S.A. - "A SUMMER WITH CHARLIE" - THE STORY OF A YOUNG SAILOR'S LAST DAYS AT SALISBURY BEACH, "NOBLE NOTES ON FAMOUS FOLKS" - HUMOROUS ANECDOTES ON FAMOUS FOLKS IN HISTORY,
"AMERICA ON STRIKE" HISTORY BOOK - A SURVEY OF LABOR STRIKES IN AMERICA; "A BAKER'S DOZEN" A BOOK OF HUMOROUS SHORT STORIES; "JUST HANGIN' OUT, MA" - GROWING UP IN THE 40'S, 50'S AND 60'S IN LAWRENCE, MY HOMETOWN, "TENEMENT DWELLERS" - SEQUEL TO JUST HANGIN OUT, MA; MEIN KAMPF - ANALYSIS OF BOOK ONE - HISTORY. CAT POINT - AND THEM DANG OYSTER PEOPLE - SEQUEL TO THE EASTPOINTER
All 12 BOOKS ARE AVAILABLE ON AMAZON.COM, BARNES AND NOBLE AND OTHER INTERNET SOURCES OR FROM NOBLE PUBLISHING. ALL 12 OF MY BOOKS ARE NOW ON KINDLE AT BARGAIN PRICES TOO. IF YOU WOULD LIKE MORE INFORMATION ABOUT DISCOUNTS AND SPECIAL OFFERS E-MAIL ME. MY EMAIL IS ON MY PROFILE PAGE.