In daily life, of course, there is no avoiding some version of the principal-agent problem: in every instance, who is really acting in whose best interest? Capitalism-as-usual has crafted a vast and complex network of competitive agents fighting for that almighty dollar. In such a system, participants are routinely faced with economic choices wherein it may not be clear whose best interest is being represented. … Continue reading Bad Faith
It is important to remember that when capitalism is expressed as “pure” it is to remind that its influence on the system which employs it is unencumbered and unrestricted; its effects (like wealth stratification and environmental degradation-for-profit) are actively realized by participating agents who engage in their own varying degrees of misbehavior. Oftentimes, the idea of capitalism that is used by economists and others is … Continue reading The “Purity” of Pure Capitalism
Presented in the following section is a selection of qualities exhibited by the system of capitalism-as-usual. Since capital flow fundamentally emerges from human existence, it is only natural that its dynamics might express some life-like qualities, just as the observable effects of breathing express the presence of life in us. We breathe; our breathing permeates our internal systems and perpetuates our life; our continued life … Continue reading Capitalism’s Creature Compendium
LOPSIII 