"Before capitalism, there were other ways. Feudalism was what existed in Europe for a thousand years before we had modern capitalism. And before that, slavery - yet another system - another way of organizing who does the work and who gets the profits and so on. And the interesting thing is that every other system that we have a record of in the human race, was born, evolved over time, and eventually passed away. What always has intrigued me, is the need for those people living in capitalism today, to think it's going to be the great exception. It was born, basically in England 300 years ago, it has evolved over the last three centuries. But when you say, "yes, but that means it will also pass away and give rise to another system", people get all kinds of strange worries because they don't want to think about that.
And so they begin to imagine that this system will be forever, in a way no other system in history has proved itself to be."
-Dr. Wolff
"And our resistance to any challenge to capitalism is ferocious in the United States. I mean the essence of the Cold War in our lifetimes is not the Soviets were intrinsically evil, it was that the Soviets practice an economic system called Communism, and that represents an existential threat to the United States, to our way of life, and to everything that we hold dear and believe to be true. And so it was really a battle over an economic system."
-Thom Hartmann
"Absolutely, I think the important things to remember are these. Before World War II, that is before the cold war that started after '45 got going, Americans were able to discuss capitalism as a system, socialism and communism as some of the various alternatives and so on. It didn't seem to threaten our society at least for large numbers of our people, to have a conversation, to assess the strengths and weaknesses of different systems. To be kind of rational adults talking about this question. And even after 1945 in places like France or Germany or Italy or many other countries that we are close to, socialist parties thrived. The French government today is a socialist government. Socialists are part of governments in many European countries, didn't seem to fall apart in Europe. It was something rational people could talk about.
But here in the United States, it became a taboo. Since 1945, what you did is you shut down the debate. You made it no longer a question of discussing systems, trying to see if we could do better than capitalism in part - all of that became impossible. To question capitalism, let alone to explore the alternatives took on the aura of an act of disloyalty. It was wonderful for the capitalists, because it basically proscribed any kind of debate or discussion or criticism as beyond the pale. We are only NOW, fifty years into the taboo, finally coming out of the kind of funk that we were in as a nation. Now that we see how poorly the capitalist system serves the majority of people in the US, slowly we are emerging back to the place we should never have left - which is an open honest debate and discussion about the alternatives systems past, present, and future - that will shape how we live as a people."
-Dr. Wolff
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This is precisely what I mean when I use the term "economic fundamentalism". You can see the logical leaps a person must make to believe capitalism is the be-all end-all of economics. This is what makes it a close cousin to religious fundamentalism.
Conversations with Great Minds part 1 - Dr. Richard Wolff with Thom Hartmann
Conversations with Great Minds part 2