Awakening

Every day more and more people are clocking on to the nature of liquid capital:

It is a fairly easy thing for an established American business to move its corporate domicile to some other country. . . It is also a fairly easy thing for a new business being founded by Americans to incorporate in some other country from the beginning. There is no insurmountable reason for, say, Microsoft or Altria (formerly Philip Morris) to be domiciled in the United States. Silicon Valley’s competitive edge comes from people, and people are mobile.

This is why the fantasies about taxing big business or the hyper-fluid elites to fund welfare programs are dishonest at worst and quaintly antiquated at best. The solid stage of capitalism that allowed for this kind of thing is over. You can’t treat the capital of the 2020s like you did the capital of the 1940s.

Instead of the inane and childish fantasizing of the “tax and fund” nature, we urgently need to discuss the transformation in the global capitalism and look for ways that welfare can exist in this new economic reality.

This is why I ended up supporting Hillary over Bernie. She pretended that fluid capitalism is all cute and cuddly, which stank. But he pretended it didn’t exist at all, which stank worse. You can’t fight something that you don’t think exists.

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3 thoughts on “Awakening”

  1. Have you read James Ferguson’s excellent essay, ‘Uses of Neoliberalism’? I think you might find it interesting even if you don’t agree with all or much of it.

    Liked by 1 person

  2. Thank you for a valuable insight. Capitalism used to mean that a person invested money to build a factory or store or other business. Then they hired workers, Ran the factory, sold the goods produced, and thus made a profit on their capital. Now capital flows Across borders and around the world, from bank to corporation to bank. Sometimes difficult to know if anything tangible is actually produced, and exactly who it is that profits!

    Like

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