“I believe in capitalism,” said a ministry leader to me one day. As I wrote in a previous post, the statement struck me in an odd way. Yes, capitalism has brought more people out of poverty than any system the world has known but should it be assumed that our society will always be capitalistic and is it the way you truly want to live?
Todd McGowan, the author of Capitalism and Desire, said “Capitalism proffers or sells us dissatisfaction with the promise of ever greater satisfaction just around the corner. That’s a promise we should divest ourselves of.” Or as another commentator put it, “Capitalism promises what you desire but gives you what you need.”
We are usually oblivious to the reality of this promise and thus we are not free. The water in which we swim promotes material acquisition that may not be our true desire. Maybe another way to put it is in Dave Ramsey’s words, “We buy things we don’t need with money we don’t have to impress people we don’t like.”
Prof. Richard Wolff, admittedly a Marxist economist, thinks that capitalism is killing itself. Simply, he postulates,
- The capitalist (for instance a factory owner) seeks out the lowest labor costs,
- Labor, usually overseas, sees lower salaries, and
- Thus are unable to purchase the factory’s production.
He thinks capitalism will continue to evolve like it did from feudalism and slavery.
As humans, we have a tendency to think that the status quo is the way things have been and will continue to be in the future. The purpose of this blog is to address the possibility that things could change. We need to remain flexible. Please let us know if you would like our thoughts on ways to structure your portfolio with these possible changes.