Capitalism as a pyramid scheme.

A little analysis of capitalism as pyramid scheme from the Daily Koz.

Pyramid schemes exploit greed and gullibility by combining fake but seemingly credible business with simple, sophisticated money-making formula. Profit travels up the chain and only those at the top make significant money. In pyramid schemes, profit moves upward to the closest level(s). In Ponzi schemes, all money goes directly to the top (as investment schemes where all money went to the owner for investment). Neither scheme is stable and will eventually collapse when there aren’t enough “suckers” entering at the lower level to sustain profits at the top.

Capitalism is inherently unequal and inherently repressive for the vast majority who make up the foundations of the pyramid. There are promised returns for “hard work” but in reality success is dependent on early entry into the system. Noam Chomsky describes free market principles as “privatized tyranny” where the wealthy use “free-market” language to justify placing greater economic risk upon the lower classes. Consumer capitalism has lasted longer than the average get-rich-quick scheme but that is only because the contributing base is much larger.

As usual, the comments are for the most part absolute crap.

One thought on “Capitalism as a pyramid scheme.

  1. Miep March 5, 2014 at 20:55 Reply

    Those people profile out about 90% white, male, and they peak in their fifties and sixties, and are relatively wealthy. The comments are about what you would expect considering this.

    In other words, they profile like the Republican Party.

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