We need to critique Capitalism more.

When we’re inside a system that pervades every aspect of our daily lifestyle, from how we structure our “week” and “weekends” to what we must do to “make a living,” it’s easy to forget that this system is made by people, and something that can ultimately be changed.

Photo by Jonathan Roger on Unsplash

We all have our own priorities, and challenging a political and economic system so unimaginably large and established may seem impractical and naive. Yet, by passively accepting capitalism as an irrefutable reality, we inadvertently ignore its profoundly detrimental effects on the world and the ongoing repercussions it poses for future generations.

Some of those repercussions (there are many more):

• Inefficient Resource Allocation: The US currently has 15.1 million vacant homes. By comparison, there are ~650,000 people in the US experiencing homelessness. These people are sleeping on the streets and dealing with unimaginable crises while millions of homes go unused. This is one of the many examples where capitalism perpetuates waste and hoarding, continuously requiring the extraction of more resources without making sure they are truly meeting society’s needs.
• Pervasive Commodification: Nearly every aspect of our lives has become subject to commodification in the capitalist system. From a young age, we are taught to focus on getting a high-paying job. Our experiences become resume-builders and our friendships become “connections,” all for the sake of more money. The system fails to value pursuits like social impact, environmental sustainability, family, or artistic expression. Instead, it incentivizes the commodification of every aspect of existence, resulting in the erosion of intrinsic values and the subordination of human dignity and societal well-being to profit-seeking endeavors.

Amidst superabundance, even we in rich countries live in an omnipresent anxiety, craving “financial security” as we try to keep scarcity at bay… The anxiety is always there, the scarcity always just one disaster away. — Charles Eisenstein, Sacred Economics

• Scarcity Mindset: Why do we work? Because we are scared of not having enough money to purchase basic needs. The fundamental idea here is that in a in a capitalist society, basic needs are not guaranteed. They must be purchased. What underlies our every day actions is the fear of deprivation. Capitalism perpetuates a scarcity mindset and a culture of anxiety, where individuals feel compelled to prioritize self-preservation and material accumulation over collective well-being and cooperation. Consequently, social injustices like racism and classism persist, fueling a divisive mentality of “us vs. them” and perpetuating a cycle of competition rather than cooperation. Capitalism breeds a culture where it’s every person for themselves, undermining our collective ability to care for one another.
• Environmental Degradation: According to the UN, “Greenhouse gas concentrations are at their highest levels in 2 million years and continue to rise.” The consequences of climate change are severe and wide-ranging, including, among others, displacement of millions due to rising sea levels, destruction of agricultural systems, and permanent damage to Earth’s carrying capacity. But capitalism’s relentless pursuit of profit largely ignores these long-term consequences. Under capitalism, natural resources are treated as commodities to be exploited for economic gain, without regard for their finite nature.

Photo by Karsten Würth on Unsplash

Yes, capitalism has, to a certain extent held our society and economy together. It holds many benefits, including rewarding innovation, upholding certain freedoms, and meeting consumer demand. But it is far from perfect, and with consequences that impact the entire world, it is something that must be questioned. We must strive for better.

We need to take the bold step of critically examining capitalism and engaging in meaningful discourse about its shortcomings. I don’t have the answers here, but I believe that with enough critical discussion, we can start to envision pathways towards change. So let’s talk.

What would you change/keep about our capitalistic society? Let me know in the comments.

—Rachel