
Liberation Audio
What is capitalism?
Aug 22, 2021
Explore the vast wealth inequality in the United States and the lack of basic necessities for many working class Americans, particularly marginalized communities. Understand the nature of capitalism and how it leads to wealth accumulation for the wealthy and prioritization of profit. Discover the negative effects of capitalism on workers, including unemployment, lower wages, and division within the working class. Uncover how capitalism promotes racism, drives wars, perpetuates bigotry, and exploits women through unpaid domestic labor. Delve into the exploitation of women as domestic workers and the gender pay gap under capitalism. Examine the role of the state in serving the interests of the capitalist class.
14:58
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Quick takeaways
- Capitalism prioritizes profit accumulation over meeting basic human needs, leading to issues like homelessness and lack of healthcare.
- Capitalism perpetuates divisions based on race, gender, and nationality, weakening the working class's ability to fight for their rights and interests.
Deep dives
Capitalism as an Economic Arrangement
Capitalism is an economic arrangement in which the means of production are privately owned by wealthy individuals and corporations. The working class operates the machinery owned by capitalists, producing goods that the capitalists bring to market to sell. Capitalists accumulate wealth from the labor of workers, as workers create the value that leads to profit. Capitalism is characterized by the perpetual accumulation of capital, where capitalists reinvest their profits to increase production and create more wealth.
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