#capita

The idealized market was supposed to deliver ‘friction free’ exchanges, in which the desires of consumers would be met directly, without the need for intervention or mediation by regulatory agencies. Yet the drive to assess the performance of workers and to measure forms of labor which, by their nature, are resistant to quantification, has inevitably required additional layers of management and bureaucracy. What we have is not a direct comparison of workers’ performance or output, but a comparison between the audited representation of that performance and output. Inevitably, a short-circuiting occurs, and work becomes geared towards the generation and massaging of representations rather than to the official goals of the work itself. Indeed, an anthropological study of local government in Britain argues that ‘More effort goes into ensuring that a local authority’s services are represented correctly than goes into actually improving those services’. This reversal of priorities is one of the hallmarks of a system which can be characterized without hyperbole as ‘market Stalinism’. What late capitalism repeats from Stalinism is just this valuing of symbols of achievement over actual achievement. […] It would be a mistake to regard this market Stalinism as some deviation from the ‘true spirit’ of capitalism. On the contrary, it would be better to say that an essential dimension of Stalinism was inhibited by its association with a social project like socialism and can only emerge in a late capitalist culture in which images acquire an autonomous force. The way value is generated on the stock exchange depends of course less on what a company ‘really does’, and more on perceptions of, and beliefs about, its (future) performance. In capitalism, that is to say, all that is solid melts into PR, and late capitalism is defined at least as much by this ubiquitous tendency towards PR-production as it is by the imposition of market mechanisms. ↗

— Mark Fisher

#capitalism #capitalist-realism #free-market #late-capitalism #neoliberalism

Well first of all, tell me: Is there some society you know that doesn’t run on greed? You think Russia doesn’t run on greed? You think China doesn’t run on greed? What is greed? Of course, none of us are greedy, it’s only the other fellow who’s greedy. The world runs on individuals pursuing their separate interests. The great achievements of civilization have not come from government bureaus. Einstein didn’t construct his theory under order from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way. In the only cases in which the masses have escaped from the kind of grinding poverty you’re talking about, the only cases in recorded history, are where they have had capitalism and largely free trade. If you want to know where the masses are worse off, worst off, it’s exactly in the kinds of societies that depart from that. So that the record of history is absolutely crystal clear, that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by the free-enterprise system. ↗

— Milton Friedman

#economics #greed #civilization

The rules of capitalization are so unfair to words in the middle of a sentence. ↗

— John Green

#rules #rules

The problem with Marxism is the proletariat isn’t going to rise up against capitalism and consumerism. The only time they’ll rise up is during a commercial break to either go to the bathroom or grab more beer.
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— Jarod Kintz

#beer #capitalism #commercials #communism #consumerism

Time and again our best and brightest have alerted society to looming problems, but our persistent pattern has been to ignore the warnings and suffer the consequences. The pathetic refrain of recent years --'Nobody saw this coming'--is always a self-serving lie. ↗

— Eugene Linden

#environmentalism #environmentalism

The trade deficit is the capital surplus and don't ever think of having a capital surplus as being a bad thing for our country. ↗

— Arthur Laffer

#bad thing #being #capital #country #deficit

I mean, everyone agrees with stress tests for banks. I mean that's clear. But banks should do that on their own. And they should worry about their own capital functioning. That's what they should do. It shouldn't be a government function. ↗

— Arthur Laffer

#banks #capital #clear #everyone #function

Which would you rather have, capital lined up on your borders, trying to get into your country or trying to get out of your country? We are the capital magnet of this planet and we are the savior for not only people, for not only freedom, but also for capital. ↗

— Arthur Laffer

#borders #capital #country #freedom #get

Capitalism is an evil, and you cannot regulate evil. You have to eliminate it and replace it with something that is good for all people and that something is democracy. ↗

— Michael Moore

#capitalism #democracy #eliminate #evil #good

Now a great debate has been born. The thesis is Democratic Socialism. The antithesis is free-market capitalism. The Obama Democrats have posed the challenge. It is now up to the Republicans to pick it up and fight along these lines. ↗

— Dick Morris

#antithesis #been #born #capitalism #challenge