Joe Biden is Wrong, Capitalism IS Exploitation

“Disaster capitalism,” a term made popular by author Naomi Klein, describes the many ways in which massive profits are accumulated from tragedy. Hurricane Katrina provides one of the starkest examples of the parasitic nature of capitalism. After the lower 9th ward of New Orleans was decimated and countless Black Americans uprooted, the public school system was privatized in its entirety. The COVID-19 pandemic has also produced numerous examples of “disaster capitalism.” Billionaires such as Jeff Bezos have seen their profits grow handsomely over the past year amid mass death and economic devastation.

A major limitation of the term “disaster capitalism” is that it insinuates that another kind of capitalism is possible. The myth that capitalism is not inherently exploitative or predatory is nothing new to the United States. Since the end of World War II, liberal economists such as Robert Reich have argued that a gentler form of capitalism is possible so long as New Deal-type reforms are a permanent fixture of economic life. Yet no amount of regulations or protections negate the fact capitalism doesn’t merely profit from disasters; it is the disaster.

The owners of capital, the capitalist class, rely on a myriad of institutions to convince the masses otherwise. Government officials and politicians tend to be the most openly vocal champions of capitalism due to their leadership role over the state—the organization responsible for enforcing the suppression of one class to the benefit of another . In his announcement of an executive order comprised of a host of regulations, Joe Biden carried on this tradition by claiming that “capitalism without competition isn’t capitalism. It’s exploitation.”

[blackagendareport.com]

There's very little competition within capitalism. We're all being vastly exploited within capitalism and Biden knows this well. A competitive market is a virtual fallacy. The only competition to capitalism is pubic ownership and a socialist structured society. That's everything the they attempt to destroy worldwide and being demonized by their owned politicians and MSCM so you don't recognize its benefits. If it's put out there for you to fear, be assured it's probably a benefit to you or a means of deception keeping the truth from you.

{Capitalist competition is defined by several contradictions, all of which form a nexus of exploitation for the working class. Biden’s executive order is reflective of a very important contradiction within this nexus. The policy is geared toward addressing excessive mergers yet monopoly is exactly what capitalist competition generates. In the hunt to maximize profits, capitalists seek to consolidate the capital necessary to expand production at the lowest possible cost. Monopolization is a natural byproduct of capitalist competition which socializes the production process and intensifies the exploitation of the laboring classes.}

{The Biden administration’s inadequate stimulus packages and regulations fail to address the exploitation at the core of capitalism. It is thus unsurprising that a system which offers so little to so many has emphasized state repression and war as key mechanisms of social control. U.S capitalism is the undeniable leader in the war industry with no shortage of clientele. Trillions of U.S. dollars are spent on wars abroad to keep the resource-rich Global South disunited and China and Russia “contained.” }

{The war at home relegates a large section of Black America to a permanent “underclass” status and a larger portion of the population compliant with declining living standards. Endless war abroad keeps U.S. capital dominant in the global market. “Foreign adversaries” serve as scapegoats for merchants of death whose profits thrive from the manufactured consent developed in non-stop demonization campaigns against nations such as Cuba, Iran, and the DPRK to name just a few. None of this has changed in a fundamental way under Joe Biden’s regime. In fact, Biden’s policies coupled with the ideological return of “good capitalism” threaten to arrest the development of socialist and anti-imperialist political consciousness in the years to come.

A more “stable” ruling class provides no panacea from a world capitalist system seeking respite from an unprecedented moment of crisis. Capitalism is defined by exploitation. Its continued supremacy guarantees more violence, poverty, and environmental destruction, not less. The best hope for the class struggle in the United States is for emerging activists and organizers to engage in a serious study of capitalism; its history, how it works, and what the exploited and oppressed have done, and continue to do, to put an end to its tyranny.}