Wednesday, January 11, 2012

Right Wing Critique of Capitalism

Lots of neoliberals, conservatives, and the right more generally are up in arms about the Perry/Gingrich/Huntsman assault on Romney because they think that assailing "vulture capitalism" is a left/radical critique of capitalism. This is the bunk. Fascists and Nazis offered critiques of capitalism that decried its excesses and plutocrats while lauding "authentic" capitalism. Gingrich is the most explicit in this maneuver because he insists that
[t]he question is whether or not these companies were being manipulated by the guys who invest to drain them of their money, leaving behind people who were unemployed,” Gingrich said on Bloomberg. “Show me somebody who has consistently made money while losing money for workers and I’ll show you someone who has undermined capitalism. … That’s an indefensible model.
This critiques of capitalism asserts that it cannot fail but rather can only be failed. This ignores, of course, the actual left/radical critique of capitalism which is that Romney and Co are the logical culmination of capitalism and that the only way to fix it is to fundamentally transform the ownership model by democratizing it.

It's true that "moderate" and "left" neoliberals might be troubled by the criticism, if only because they might realize how silly they sound in defending the indefensible.

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