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What follows is a synopsis of the book (of the same title) by Eric Toussant, first published in 1998, a book a friend suggested I read, after her reading my prior post. I can only assume that she thinks my reading it will give me something I can use to find a way out of, or through, my current debacle. Perhaps I must learn all I need to succeed as an independent contractor, since that seems to be a possible path, despite the disrespect and attempts at manipulation we face.
What follows is my take on the book, which may not necessarily reflect Toussant's views (some of them with which I may not necessarily agree). The author (Toussant) dedicates it to those children in Third World countries whom he wishes will have both the desire and the right to have formal education, as well as all those men and women struggling for their [financial] emancipation. Given the subject matter, I approve of the sentiment therein. Given the publication date, it might seem very dated, but I posit that much of the insight presented therein is still relevant today, given that history tends to repeat itself since humans can be incredibly slow to learn and adapt (especially if they're benefiting in some way from "business as usual"). It might be worth another read, in light of the 2008 housing market bubble collapse and bailout, as well as the more recent bank collapse in the USA.
If colonial history is the conquering and plundering of the nations of the world by armies or bands of many individuals, in order to take wealth back to the monarchs of their home nations, then contemporary/modern history is "the conquest of the world by an ever smaller number of huge conglomerates organised into multinational corporations ... engaged in a permanent war with one another to control markets with the shared aim of subordinating all human endeavour to the logic of private profit".
That description of behaviour that is the basis of Capitalism definitely seems to ring true, both from my experience of employment for a(n) MNC and an independent contractor, as a person from the Third World.
Capitalism (a legalised system of exploitation and stealing from the poor and giving to the rich and powerful) isn't anything new. It's been going on for centuries, ever since the Spanish conquistadors landed in the Americas (if not longer; the ancient Egyptians certainly engaged in practices, such as slavery, that could possibly be considered capitalistic). However, such practices seem to have been accelerated as time goes on and technology has advanced (if not necessarily improved). Computing and robotics, in particular, have made implementing strategies for the pursuit of wealth near-real-time.
Socio-economic politics and uneven resource distribution also play their part: The rhetoric behind the status quo is that private initiative is superior to public intervention/good, that the former is efficient and profitable while the latter is incompetent and wasteful, that "humans naturally prefer private initiative over collective solidarity". Maybe some do, but not of us. Such an ideological mindset, as concerns the duties of the state, is disconcertingly and noticeably silent about the problems inherent in "the permanent collusion between the state apparatus and big business", of policies that deregulate the practices of businesses, effectively leaving them free to govern themselves in competing between themselves in "economic warfare". [We all know full well that all's fair in love and war, but wars always have collateral damage. Not that I'm a fan of government on a national level, but one cannot compete with an organisation operating on a global scale.] A national government's legitimacy, its power to control and police, is rendered ineffectual, null and void. It is not unreasonable to expect that wealthy corporations will take full advantage of the assets and resources (including people as well as technology) at their disposal, however they deem fit, to increase their wealth. This holds true in the financial sector, especially, "a massive financial bubble out of all proportion to economic realities". As is the nature of bubbles, it could burst at any time and do irreparable damage. [The book was writ in 1998. Doubtless, the bubble in question has already burst, as have many others, since this is the nature of big business and has changed little. Those whom do not learn from history repeat it.] If that's not bad enough, consider that it is "also the destination of choice for a significant proportion of the savings deposited in mutual and pension funds, and for the liquid assets of banks". [See, having a portion of your holdings in cryptocurrency and DeFi, outside of TradFi, might not be such a bad idea in light of that.]
While I'm not a fan of Communism, it effectively imploded with the Soviet Union and with it went a model of an economic and political system that was an alternative to Capitalism (admittedly problematic and impractical, naive optimism being a part thereof), but an alternative nonetheless. China is possibly an exception to that case. If the result of that was anything, it was a defeat of the working classes, making them vulnerable to endless exploitation by arrogant, brutal, greedy and uncaring capitalists that no longer fear being held back or otherwise negatively impacted by protest or revolution from the workforce. Simply fire them and recruit others desperate to earn their daily bread (or at least threaten to, to keep the peons in line).
The ideas that fuel and "justify/legitimise" this modus operandum are perpetuated in mass media, the modern opiate of the unthinking masses: The so-called "free" press, radio and TV, publishing houses, even academic institutions, etc. are (almost) all ultimately owned and run by MNCs, through their various chains of holding companies and subsidiaries. By promulgating and perpetuating their ideas in so many ways, they are "manufacturing consent", as Noam Chomsky put it, whether you realise it or not. Even if you do, there is very little to nothing you can practically do about it (at least, not without appearing to be crazy to those whom have swallowed the accepted dominant discourse and viewpoints hook, line and sinker); your not having the wherewithal to do so accidental or coincidental. One totalitarian regime has replaced another, rewriting inconvenient history and truths as it goes. It indoctrinates children in its agenda, under the guise of educating them in how to survive and profit in the regime, make the unavoidable choice between life and death (or so it would have us believe), in all realms of life. All participants in the zero-sum game are pitted against each other, with "victors" praised and "losers" dismissed in contempt. However, the exact purpose of this conduct, this way of living, is never given, because it is a farce and a lie. (Do not look for the man behind the curtain.) As George Orwell observed in , the objective of the war is not victory, but its own perpetuation; one's allies, enemies and conquests are ephemeral, constantly in a state of flux. Such instability is meant to preoccupy those caught up in it so that they don't think about what's really going on (at least not long enough for them to do anything about it, assuming they even figure out what it is that they can).
"A corporation is a private dictatorship." — Unknown
The point of Capitalism, in case you haven't figured it out by now, is to submit/subjugate the whole of human activity to the "free" market (free for the unrestrained reign of businesses, that is, not freedom of choice for the workers), for the benefit of a few tyrants: financial profit. [Anything you do that is not bringing in money from someone else (not necessarily it) is a waste of your time and energy, as far as businessmen are concerned. I learned that the hard way (ending up on the outside of the loop and struggling to get back in, not that I to).] Nothing, not even your privacy nor your genes, can be permitted to escape this system. Everything, including spirituality, can become a commodity (and, therefore, it ). [Under unrestrained Capitalism, are the ultimate product. I don't necessarily have a problem with that, but the key question is one of who owns and sells the product. In the traditional model, it's not you or me, but the corporation(s) for which we work. I have a problem with that since surely I should own the results of my labour, as should every person. That is why I decided to work as an independent/private contractor, for all the good it has done me. It has proven to be a lot harder than I thought it would be, since my success effectively means I have to wear all the hats and fill all the roles required by a business.]
To be continued ...
Thumbnail image: Photo by Suzy Hazelwood on Pexels
