This is a Roboeconomic post, which is about the now budding awareness of the fatal flaw in Capitalism. Repairing it does not turn it into Communism or Marxism. That is just the dumb Pavlov-response of the proponents of the current style of Capitalism. Any argument against it ends up with “Ah so you’re a communist!” just like any argument against what the state of Israel does ends up with “Ah so you’re an anti-semite”. You know you hit on a very strong ideological bastion if you get such a “there are only two choices” response. This is because capitalism in its current form is not designed to bring wealth but to protect the power of the banks.
The simple principle banks follow when doing business is to ask this question : “Does whatever it is increase my cashflow?”. If the answer is “Yes” the bank will do it (within the law mostly, but banks have done many things to find cashflow while breaking the law or at least moral standards). If the answer is “No” then they don’t do it! Wall Street banks have opened offices on tax havens to handle drug money, they opened loanshark offices in poor neighborhoods to extract onerous interest from already destitue people, they handled the credit card transactions of porn websites, banks generally don’t give a flying fuck about anything but increasing cashflow. I really believe that all misery in the world is caused by banks. 99% of all tragic content in the media is because of what banks did. I live in a nation anxious for homes and affordable energy and food because of what banks did.
This is not capitalism. It is just blind capitalism. It is not the process of increasing wealth of people. It is the process of increasing wealth for a very select nr. of people, those to gain from increased bank cashflow. The part where all the financing leads to more happiness (or could) is presented to us, as well as what happens if =people= make mistakes. Of course it is not people that do drugs that are wrong, it is those that produce the drugs and make it so that its the only affordable escape. It is not prostitutes that choose their seedy life, but the criminals that are somehow also making financial transactions that ship them to where they are totally disoriented and have no friends, because of migrant policies that the bank lakeys in politics have to promote in order to keep control over the biggest threat to their power, the less educated and less patient people in society.
It is clear that banks do not consider consequences as they maximize their cashflow. The obvious tweak we need to do to capitalism is to make sure they do. When it concerns climate change however we then discover that there is a dark relationship between fossil fuels and banks : The main source of cashflow for banks is the use of fossil fuels. In fact most of bank cashflow, if not 90% is related to consumption (burning) of fossil fuels. This is the reason the transition has to be financed by government or private investors, banks only step in when the immediate cashflow gain is just to big to ignore, which usually means there is a large fossil energy investment. The whole Hydrogen story that has no trouble whatsoever to find bank investment is exactly designed to secure bank cashflow and delay the transition to solar/wind/wave/geothermal
This is why any suggestion to change anything about the freedom of banks is immediately stomped on as ‘communist’ or ‘marxist’ or ‘socialist’. By whom? By obvious bank lakeys, fans of the banks, servants, people that feel exceptional because they have been chosen to sing praise to blind capitalism. People that all have no care for what happens after they die.