Can We Do Better Than Capitalism?

Capitalism could be the biggest problem. Prof. Wolff says it's time to get rid of it rather than reform it.

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  • Paul Singh
    commented 2020-02-04 20:07:55 -0500
    To: Prof. Richard Wolff
    Subject: Understanding Slave Capitalism
    Dear Prof. Wolff:
    I have watched your debate comparing Market Capitalism with Socialism, Google Talks, Economic Update on YouTube. For a true reality check we need to understand Slave Capitalism which is unique in the American landscape. A 1000 word summary of Slave Capitalism follows.
    Slave Capitalism is leveraged Capitalism where 50% of the population, by design are wage slaves denied living wages, savings, property, healthcare and education. It was embedded in the U.S. Constitution in 1788 and has guided the economy to this very day. With the end of the Vietnam War and rise of China as the second largest economy in the world Slave Capitalism will eventually destroy the U.S. economy just like the British Empire.
    After the Civil War Black Slavery was replaced by Wage Slavery. Now wage slaves are available in Asian countries without limit and not required at home. The way forward is to replace Slave Capitalism with Democratic Capitalism in America for survival.
    Paul Kalra 650-739-8082 P.O.Box 667, Cupertino, CA 95015
    Understanding Slave Capitalism By Paul Kalra
    Slave Capitalism is an economic system where by design fifty percent of the population will be denied living wages, savings, property, healthcare and education. Most of the benefits from economic growth and productivity go to the corporate stockholder employers and the middle class whose votes are necessary to control the executive, legislative, judicial branches of government and the press. Essentially Slave Capitalism is leveraged capitalism with a winner take all electoral system.
    Slave Capitalism was embedded into the U.S. Constitution in 1788 by denying citizenship rights to Blacks who were a majority in North Carolina and Georgia. With no rights to life, liberty, family and property the Blacks were exploited by the slaveholders and subjected to the personal property laws of the slaveholders. Working class Whites were reduced to a condition worse than Black slaves because of competition in the economic marketplace and property rights of the slaveholders.
    The U.S. Constitution was designed by the slaveholders as a government of, by and for the slaveholders forever. By having two senators from each state independent of population and Senate veto power over all legislation all pretenses of a democratic framework became ineffective. The Northern States denied the entry of Blacks in their Constitutions because they were not citizens and to encourage white immigration from Europe by preventing direct competition with Blacks in the economy.
    Just before the Civil War in 1860 the Northern States had a population of 20 million against 10 million for the Confederate States which included 4 million Black noncitizens though both had an equal number of Senators. California by voting to be a “Black free state” broke the tie in the Senate and the Confederate States started the Civil War by seceding from the Union upon the election of Abraham Lincoln because he opposed entry of Black noncitizens into Northern States. The Civil War was the deadliest war in U.S. history with over a million casualties because the U.S. Constitution was rigged by the slaveholders and ballots could not replace bullets.
    After the Civil War Black slavery was abolished by the 13th amendment to the Constitution and replaced by wage slavery. Slave Capitalism continued by creating two classes of citizenship known as “separate but equal”. As the number of Blacks were reduced to 10% of the population with white only immigration now 40% of the working class population could be denied living wages and property within the wage slavery economic system.
    Fast forward to the present day economic system. Now the slave holders are incorporated. 5% of the population own almost all the stock shares and control the economy including all institutions of government. 12 million illegal immigrants who are not citizens can be exploited with threats of deportation to offer competition to the working class. With trade deficits, transfer of jobs overseas to Asian and Latin American countries by the Corporate Employers for higher returns on investment the working class is denied living wages.
    To control the working class Slave Capitalism denies them living wages and forces them to survive with pay day loans, credit card loans, auto loans, educational loans. The middle class can be controlled by their mortgage debt. U.S. has the highest income inequality in the world’s richest country because most benefits of increased productivity and growth flow to the Corporate Stock holders who then lend the money to wage slaves at double digit interest rates.
    Slave Capitalism denies investment in Human Capital for the wage slaves by predatory payroll taxes and denial of healthcare, education benefits. Every worker has to pay the social security tax which pays a retirement benefit after age 65. But without healthcare the wage slave working class will be dead before age 65. So by forcing the wage worker to pay for a retirement benefit with no healthcare is an outcome of the Constitutional Slave Capitalist system.
    The Constitution divides the population into classes with property and wage slaves with no property. Slave Capitalism funds education with property taxes. In this way educational opportunities are denied to the wage slaves because they own no property and are renters.
    Only in wage Slave Capitalism is the worker provided with healthcare at the mercy of the employer slaveholder. In Slave Capitalism the employee can be terminated at any time without cause. Once the worker is fired not only does he lose his wages but also the healthcare if any. An employer can deny healthcare benefits to any employee because of religious beliefs. Specifically they can deny birth control benefits to the employee even if there is a separation of Church and State in the Constitution.
    With American Slave Capitalism all kinds of jobs are transferred overseas to take advantage of lower wages and lack of labor standards. At home workers are not qualified to fill skilled jobs available because their parents were denied living wages, healthcare and education to take care of their families. This leads to an economic system where working class wages cannot keep up with inflation, inequality keeps rising and the American dream of savings, home ownership and family vanishes forever.
    A mirage of prosperity is created by just printing money which flows into the stock market and the pockets of the stock holding employers who then lend it to the wage earners and invest abroad. Ultimately Slave Capitalism will destroy the economic system with a depression like the 1929 Stock market crash and hyperinflation. The only hope remaining is that good sense will prevail and Slave Capitalism will be replaced by Democratic Capitalism with living wages, health care and education for all.

    Paul Kalra is the author of “From Slave to Untouchable: Lincoln’s Solution” and “The American Class System: Divide and Rule” downloadable from