"Socialism is that social system under which the necessaries of production are owned, controlled, and administered by the people, for the people, and under which, accordingly, the cause of political and economic despotism having been abolished, class rule is at end. That is Socialism, nothing short of that." - Daniel De Leon, "The Daily People" - January 23, 1906
"Wall Street Doesn't Help Main Street"
Chad P. Morrison, Friday, September 25, 2009
"Supplemental" Kent Allen Halliburton, Saturday, August 20, 2016
Chad is very correct that too much wealth and power are concentrated in the hands of the wealthy in this country. He is also correct that this has created a system of inequality in which workers are required to settle for less than what is fair for their labor. He also made a remark about allowing bad banks to collapse, rather than propping them up, which was even more correct, as this collapse could have led to public ownership of the means of production. This is also a very correct statement. However, as it relates to Socialism, after his suggestion that the working class retake control of the means of production, he returns to a neo-liberal understanding of economics when he begins enumerating salaries for various job types and discussing how to properly address the conditions of welfare recipients. In a truly Socialist worker's state, this is not how things would go. First, the most effective socialist state would function on a resource based economy fueled by sources of power that are renewable, rather than finite. It would abandon coal, oil, and gas power, in exchange for wind, solar, and geothermal power. This would thus eliminate the concept of scarcity, and with it, the need to use money to obtain the basic necessities of life, all of which, would be readily available to all citizens by right. This would include food, lodging, clothing, healthcare, education, and much more. Work would no longer be a competition for survival, bur rather, a race for self and collective improvement. Things like poverty would not exist. There would be no one bleeding the system, because their would be no unnecessary competition. The accumulation of wealth would be irrelevant. The human species would, rather, function on cooperation.
The original version of this article was published at http://airbornenation.yolasite.com/blogs/wall-street-doesn-t-help-main-street.