Economics

Haque’s critique of capitalism would send us all to Venezuela

So, just what is wrong with Umair Haque’s article If the Point of Capitalism is to Escape Capitalism, Then What’s the Point of Capitalism?

Well there is a lot wrong with it from start to finish.

In Haque’s description of the capitalist world, people’s objectives are couched purely in materialist terms – “the worker is trying to become a manager. The manager is trying to become a capitalist.” Haque seems oblivious to the notion that capitalist societies already allow people to live on hippy communes if they wish whereas socialist societies do not allow people to opt out of the commune.

His description of capitalism as being “like a pyramid, which we’re all climbing” is mistaken.  So is his example of capitalism in its purist form, in which he labels the slave owner as the purest capitalist of all.  But what he is describing is actually a form of feudal … Read the rest

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