Capitalism is a system that has been accepted as though it is working, or that it could work. The evidence shows a stark distinction between what is believed and perceived to what is real.
Is capitalism operating in its clearest definition, or is capitalism being executed in a faulty way?
Since emerging from, or mimicking feudalism, the methodology of capital has been creations of social classes. A design that is similar to an organizational chart where there are upper-levels and lower-levels. Those who are positioned atop manage those who are placed at the lower spectrum.
Working to secure capital is about competition, trading of products at varied prices, and unfair labor practices. In addition, even in the 21st century, the world’s population has yet to experience prosperity under capitalism. Instead, a few people have more wealth than the majority of people.
From an empirical perspective, it is worth scrutinizing the system through statistical findings. After all, the design of capital is to make money to pay for needs, but without money; a new realism emerges.
Some stats released by the World Bank show how poverty affects those in the global sphere:
- 689 million people live in extreme poverty, surviving on less than $1.90 a day.
- Children and youth account for two-thirds of the world’s poor, and women represent a majority in most regions.
- Extreme poverty is increasingly concentrated in sub-Saharan Africa. About 40% of the region’s people live on less than $1.90 a day.
- Extreme poverty rates nearly doubled in the Middle East and North Africa between 2015 and 2018, from 3.8% to 7.2%, mostly because of crises in Syria and Yemen.
- Although countries impacted by fragility, crises, and violence are home to about 10% of the world’s population, they account for more than 40% of people living in extreme poverty. By 2030, an estimated 67% of the world’s poor will live in fragile contexts.
- About 70% of people older than 15 who live in extreme poverty have no schooling or only some basic education.
- 1.3 billion people in 107 developing countries, which account for 22% of the world’s population, live in multidimensional poverty. About 84.3% of multidimensionally poor live in sub-Saharan Africa and South Asia.
Even with contrasting situations such as job insecurity-and-loss, poor working environments, poverty, and low wages; economies continue to push through. Investopia.com lists countries according to GPD per capita:
|Country||Nominal GDP (in trillions)||PPP Adjusted GDP (in trillions)||Annual Growth (%)||GDP Per Capita (in thousands)|
Gross Domestic Product(GDP) is used to measure a country’s economic output in terms of goods production, but it fails to consider income of individuals. This scale is used mainly to compare-and-contrast the finances of countries with different currencies.
The Human Development Index(HDI) can offer a more profound view of the well-being of citizens in a country. According to worldpopulationreview.com, “HDI is ranked on a scale from 0 to 1.0, with 1.0 being the highest human development. HDI is broken down into four tiers: very high human development (0.8-1.0), high human development (0.7-0.79), medium human development (0.55-.70), and low human development (below 0.55).”
Countries with the label, “Developed” tend to have to a high rank while countries with “Least developed” tagline have a low number. Germany, Canada, and the United States are in the bracket of 0.9-0.95 while Mozambique, Democratic Republic of Congo(DR), Yemen, and Ethiopia are in the range of 0.45. 0.46, 0.47, and 0.48 respectively.
Factors, which are defining a quality education, income, and well-being all have costs associated to them. Furthermore, in a capitalist definition, there will always be those with more resources than they need to have. On the flip side, there will be many more who face obstacles in their quests to access supplies.
Individualism in Venture-Capitalism
We’ve all seen the individualistic actions of venture capitalists who act as though their wealth was created solely by them. We’ve all seen the individuals who rise to the height of capitalism and become poster-faces for being rich.
The concept behind capitalism promotes the self in the midst of many selves. While many bodies will be needed to keep businesses afloat; many times, the founders of money empires will continue to get more credit.
In-fact, the promulgation of self-rule within a capitalist idea is tied to a culture. The harsh, self-serving strategy of venture-capitalism that the world inherited came from Europe. This is emblazoned in the history of slavery-and-colonialism, apartheid, occupation, and the economic cruelty of the industrial revolution in which they have always been participants.
Those examples tell of their approaches to economics and environments, and the psychological-and-emotional detachment they exhibit in the midst of utter destruction. This form of ignorance and grave wickedness can still be seen in the institutionalized presence of a socio-economic climate that was formed as a result of white-supremacy(Eurocentrism).
Within their culture, there is great emphasis on materials-and-laws as well as self-reliance. In contrast, the cultural identities of Asia and Africa are more community-based and they favor group activities.
Because of Eurocentrism and its global outreach through the operations of slavery and colonialism; the world looks a “One size fits all” interpretation.
In western civilization where white-supremacy’s governance can be seen in clear view; there are many examples of different cultures who practice a version of Europe’s customs. Their migration into different parts of the world continues to define the countries which they colonized.
In their culture, there is a blatant disregard for community and the preservation of Nature’s wealth. Waste and greed are themes they use, which are used to gain access to supplies. Self-righteousness becomes the trait that follows after the goods are secured.
Europe and its relationship with the outside world show a behavioral pattern that fueled the enactment of slavery and the financial rewards rendered to them. They used a capitalist mindset to secure protectorates all over the world and took control of established nations.
Non-Europeans have been forced into Europeans’ view-of-life, but many still cannot make that connection. It is no surprise to watch both Europeans and non-Europeans vaunt about their resources, work titles, and salaries. This behavior is in alignment with the psychology behind the economic model that favors a “Me, me, me” philosophy. The “Us” mentality emerges from those who are more socialist and can see the problems which are caused by a capitalistic trajectory.
Still, many people choose to glamorize money in the midst of many social problems. Those individuals are either consciously, or unconsciously, celebrating capitalism even though its projection destroys livelihoods, environments, and family structures. They, in-turn, adhere to its tendency to instill self-righteousness and complete oblivion in the minds of people.
The emphasis on oneness in capitalism hinders the world’s population from receiving basic needs to uplift their lives and assist them in growing their families and their communities. Thus, the growing income differences between people are directly linked to a world monetary plan that is destructive on paper and in its implementation.
You must come to terms with the realities of the world– Dr. Amos Wilson