Capitalism is great in certain domains, like consumer technology, commodity goods, transportation, and much more. But it’s terrible in others, when compassion or foresight beyond the quarter or even the human life span is needed, like with private prisons, climate change, and arms. Here’s The Intercept:
Retired Army Gen. Richard Cody, a vice president at L-3 Communications, the seventh largest U.S. defense contractor, explained to shareholders in December that the industry was faced with a historic opportunity. Following the end of the Cold War, Cody said, peace had “pretty much broken out all over the world,” with Russia in decline and NATO nations celebrating. “The Wall came down,” he said, and “all defense budgets went south.”
Did you think Lizard People was just a conspiracy theory? These military-industrial corporate thugs would stoke the fires for World War III, straightfacedly talk about the “history opportunity” to their investors, and non-ironically say they’re “just doing their job” and “if it wasn’t for me, it’d be someone else.” Capitalism doesn’t work as well here because it makes the category error of comparing the money in this industry against the value of a human life. I hope they’re ready to be scorned by the history books.