Automation and AI: A Crisis of capitalism

UBI as a solution to the Market failure

Widespread Market Failure = Crisis of Capitalism

  1. Social Housing — it is not a secret that the capitalistic system is failing to produce decent, sufficient housing for millions of people across the world’s cities. House prices have climbed higher, exponentially, elbowing out millions and millennials are bitter about it. Rentals in cities are gobbling 40% of income earned. This is not a smaller nyana-nyana type of a side effect. This is a crisis of capitalism brewing. As increasingly more families rely on social housing, the social housing program will transform into mass public housing (i.e. a predominantly socialist state)
  2. Healthcare- it is an open secret that the capitalistic system is increasingly failing at providing reasonably priced healthcare to millions of people across the world. Socialist programs such as National Health Insurance (NHI) in the UK and Obamacare in the US have had to step in to provide decent healthcare. The NHI in the UK has done very well. Critics of socialism will pay a blind eye to the fact this is a well-run socialist program. They only point to the failed socialist programs in Cuba, China or the Soviet Union. Healthcare costs have gone parabolic. Big Pharma, monopolies, and oligopolies in healthcare bear evidence of a failed capitalistic system. The average person in the world cannot afford to be sick. Even dying is expensive too. This is a crisis of failed capitalism.
  3. Education — they say this is the key, but it is not free in many countries. The cost of getting educated is not a small fee. It is exclusionarily high and elitist. The few scholarships thrown around to the poor cannot fix this market failure. The student loan crisis in the US bears witness to this. Some countries have addressed this market failure with a heavy socialist program of free education for all, and some have gone for only free basic education. Zambia in Africa has gone for free primary education. Germany and some Nordic countries have gone for free education for all up to the highest level of education. These programs in the Nordic countries have been successful in addressing market failure and creating an educated society. Students in South Africa are calling for free education. Freebies. This is a socialist call. It is a call to Socialism. Fierce proponents of capitalism add their voices to this call for free education touting it as an investment in human resources bla bla bla without acknowledging it for what it is, a loud call for Socialism.

Failing at the Core

The Move towards Socialism

  1. Sharing Economy — sharing is communist, full-stop. It is a communal concept. Individualism and greed are capitalistic concepts. Any definition you can think of for the sharing economy is as communist as it can ever get. The sharing economy addresses the wastefulness and overproduction inherent in the capitalistic system.
  2. Minimalism — this is an anti-capitalistic trend. It actively seeks to counter the consumeristic hubris that exists at the epicenter of the modern capitalistic system. Minimalism is not exactly socialist or communist but it is precisely a push-back on capitalism. Minimalism is attacking capitalism on the groin. It's a fight against the immense waste that is driven by advertising. It debunks “growth” as we know it in a capitalistic way to nothing other than waste.
  3. Environmentalism — this trend is not decidedly socialist but it is evidently social in its approach. Capitalism doesn't care about externalities or things that cannot be tagged with a price. Capital only seeks to maximize shareholder returns, it doesn't really care if that destroys the earth in the process. Environmentalists dwell and built on the strength of communities to bring capital to account and hold it responsible for the environment. Right-wing fellas view carbon credits as a socialist agenda. They are right. Carbon credits are socialist and there is actually nothing wrong with socialism, contrary to what we have been taught in schools.
  4. Big Everything (Big Tech, Big Pharma, Big Banks) — these big capitalistic institutions are making a killing. They make profits from operating at scale across the world. The big fish has swallowed the small fish (i.e. small businesses). What the “Big Everything” subtly tells us is that certain things can be administered at scale, centrally. The big boys running entire industries are not much different from a ministry under a communist arrangement. The comparisons appear dubious now because the “big everything” players are selling goods and services to paying customers. What happens when billions of humans are unemployed and cannot afford to pay a market price?

The Move Towards Communism

The Demonization of Socialism and Communism

All Religious Utopias are Communist



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Ryan Gosha

Ryan Gosha

Financial Analyst, Cloud Accountant, Citizen Data Scientist, FPL Boss