The Essence of Capitalism

I feel like in this initial process of setting out all my positions, I necessarily have to make a bunch of unsubstantiated claims.  In a sense, these first few posts are like a coarse outline of where I am going to go with this blog.  So please bear with me.  I have a lot of lengthy arguments, but I want to make them pithy for a blog, which can be difficult.  I am writing this disclaimer because I realize that my previous discussion went a little more in depth than I had intended, and if I am really going to identify all of the key features of capitalism, as I had hoped, I had better cut down on the explanations!  And with that caveat, I continue.

While wage labor is the primary defining characteristic, other Concomitants of Capitalism include:

1.  Mechanization of production

2.  Mass-produced goods

3.  Growth of monopolies

4.  Expansion of credit and personal, private, and state indebtedness

5.  State economic planning and social welfare programs

6.  International division of labor and colonialism/imperialism

7.  Rapidly increasing income inequalities

Following from these attributes of capitalism, Key Effects of Capitalism (direct and indirect) include:

1.  Technological innovation

2.  Increased efficiency and productivity

3.  Commodification of all aspects of life

4.  Rampant consumerism

5.  Increased costliness of securing the basic needs for existence

6.  Massive waste and unnecessary consumption

7.  Pollution and environmental degradation

8.  Women's integration into the workforce and changing gender roles

9.  Poverty on a qualitatively new scale (much of the world at or near starvation levels)

As you can see, the fruits of capitalism have not been wholly good or bad.  However, you can judge for yourself, based on the above lists, to what side the net balance tips.  Personally, I do not believe that all of the fancy new technology enjoyed by a portion of the world's population is worth the poverty, inhumane living conditions, and human rights abuses suffered by an even larger portion.  And I am not certain that the benefits of technical efficiency offset the inconceivable amount of waste generated by the capitalist system.

Next up:  some basic theory of the state and power, so that I can discuss its role in capitalist development.