The Truth About Markets, Pillar of Capitalist Ideology

Capitalists long ago learned that they could profit by manipulating both supply and demand to create or sustain “shortages” that would enable them to get higher prices. Capitalism created the advertising industry to boost demand above what it might otherwise be. At the same time, each industry organized to control supply (via informal agreements among producers, mergers, oligopolies, monopolies, and cartels). Social conditions and changes beyond the control of capitalists require them to constantly adjust their manipulations of demand and supply. In reality, markets are useful institutions for capitalists to manipulate for profit. In ideology, markets are useful institutions for capitalists to celebrate as somehow ideal-for-everyone pathways to optimal efficiency.

Source: The Truth About Markets, Pillar of Capitalist Ideology – CounterPunch.org

COP 26 reaffirmed what has been obvious from the beginning: the Northern colonial and capitalist states most responsible for creating the climate crisis are unwilling to place people before profits in order to address the planet’s looming ecological collapse and humanitarian catastrophe.

Source: COP26: Greenwashing, Plutocratic Misadventures – and the Possibilities of Radical Transformation – CounterPunch.org

  Was Frederick Hayek a Bernie Sanders Socialist? 

Let’s be very clear at this point in history: It is free-market ideologues—not democratic socialists—who are killing democracy.

It is important to point out the abuse of terminology on all sides. Sanders uses the term ‘socialist’ but isn’t a socialist and Hayek attacks FDR-ism in the context of his attack on socialism, no doubt with the USSR in mind.
Although Hayek is a hopeless case ideologist the fact remains that by 1944 it was becoming clear that socialism leading to totalitarianism was a real danger in the Bolshevik case. In fact, the left was deeply challenged in the coming generation and let the neoliberal meance to freedom (!) take hold. It was not enough to respond with kneejerk socialist slogans: the question was to create freedom in the context of no markets, a tasks the left failed at.
The fact of the matter is that socialism ended up the antithesis to liberalism/democracy when the affinity of the whole field one to the other should be clear. Hayek complains of socialist loss of freedom but the case of the US with its devastating mind-control tactics in association with capitalist advertising and the lessons learned in controlling freedom for imperialist aggression and militarism for profit make Hayek’s critique of socialism mindless muddle.
The challenge remains to bring democracy and socialism together in a new take on freedom, markets, and the opportunity of socialism to create a real democracy.
Our idea of ‘democratic market neo-communism’ shows that it is not enough to champion socialism without a model to make it work.

Source: Opinion | Was Frederick Hayek a Bernie Sanders Socialist? | Les Leopold