Obama equates capitalism with slavery!!

The illiterate Kenyan monkey and his tranny wife Big Mike strike again. Blacks are inferior and inferior people always love socialism. They know that if merit matters, they will lose.

It's just Obama committing yet another redefinition fallacy (capitalism<->socialism and slavery).

Capitalism has no slavery and is not slavery. Capitalism is the VOLUNTARY production of products and services for VOLUNTARY sale at the AGREED UPON PRICE.
Slavery is theft of labor. It is a form of socialism.
 
He's (Obama) wrong. Slavery wasn't per se an abuse of capitalism, but more an abuse of mercantilism. Slavery wasn't practiced widely on an individual basis. That is, slave owners were the equivalent of modern-day agribusiness and big corporations. It ran on the theory that wealth was power and that the purpose of agribusiness--the primary user of slaves--was to supply raw goods and materials to the home country for exploitation on the world market.

If the antebellum South in the US, for example, was capitalist rather than mercantilist, they would have closed the chain of manufacturing and trade to go from a raw material like cotton, to finished textiles and clothing. But they didn't. Cotton was for export almost exclusively, be it to Northern states where capitalists would manufacture it into finished products and then trade those, or to countries like England that did the same thing.

The same went for other Southern and Caribbean agricultural staples like, tobacco, sugar, cattle, citrus, and the like. None of these stayed local to be turned into end products. They were shipped elsewhere for that purpose. Mercantilism also generated monopolies, or near monopolies, where government(s) colluded with the wealthy owners to produce exclusive trade agreements that kept newcomers out of the market.

Mercantilism exploits local resources without generating a wide base of wealth. Instead, a small number of persons with great wealth gain from the exploitation while the local economy and most people in it stagnate in poverty. When the resources run out, the wealthy leave and the vast majority of the population is abandoned to their fate without care.

Capitalism invests in the local economy along with exploiting resources. It generates a wide base of income for a much larger portion of the population. This is why the North grew wealthy while the South stagnated economically.

It's simpler than that, but you essentially have it right.

Slavery is theft of labor. It is not capitalism. It is a form of socialism. ALL socialism is based on theft of wealth.
Capitalism is the only economic system that creates wealth. ALL forms of socialism steal wealth. It doesn't produce anything.
 
I'm going to disagree with you TAG.

"Mercantilism promotes government regulation of a nation's economy for the purpose of augmenting state power at the expense of rival national powers." https://en.wikipedia.org/wiki/Mercantilism

Slavery is an economic system created and managed by the gov't, i.e. socialism. It is rooted in monarchy where all subjects and land were owned by the gov't. And there is no class mobility.

Capitalist Free men can not afford to compete against slave labor.

The 1850 Fugitive Slave Act was socialist legislation.

You actually agreed with him, but simplified it (pretty much the way I did).
 
mercantilism , as you call it, is a form of capitalism, capitalism’s precursor,
Capitalism has no 'precursor'.
they are both based upon the profit motive,
So is theft. ALL forms of socialism are based on theft, including slavery.
be it an individual’s gain or that of a state, your splitting hairs to say they differed,
Word games gets you nowhere, anchovies.
besides, according the quote above, Obama never even used the term capitalism, rather a “market based economy,” which implies capitalism, but could fall under both
Word games gets you nowhere, anchovies.
 
Mercantilism was based upon profit, be it a State or individual, you got in to tell us next capitalism isn’t based on profit,, and to blanketly imply capitalism frees people ask the twelve year kids who worked in dangerous coal mines during the advent of the Industrial Revolution

And your interpretation of the Fugitive Slave Act is typical “big chiwawa”

Slavery is not capitalism.
 
Yes, it was sort of a predecessor of capitalism, but it also ran concurrent with capitalism. In earlier forms, mercantilism was controlled more closely by the state / government where in a monarchy the sovereign gave out patents or grants of operation to some wealthy merchant or group of merchants to operate their business. Mercantilism is a very narrow market base at best in most cases. Often it involves a single raw product like tobacco, sugar cane, silver, gold, etc., being sold / traded to either the crown or a monopoly of businesses that produce the end product from it.

Capitalism allows for wider markets with more flexibility in them.

Capitalism has no precursor.
 
The welfare state is socialism? ok. I never know because you white libs constantly change the definition.



Confiscating workers' wages to pay for it.

Not only is there an income cap on SS, but your 'one size fits all' socialism punishes Black men and rewards White women. Due to a 10 year life expectancy difference.

And if you don't live long enough to 'collect', your 'lockbox' money goes to the gov't instead of your progeny. :palm:

The welfare state is socialism. It is communism.
 
Oh, so I guess all those elite and wealthy are the ones benefiting from SS and Medicare, you knew

Exactly right. Both Social Security and Medicare are socialism and communism. They (the government) steal wealth, take a hefty cut for themselves, and redistribute the little that remains, claiming to be 'generous'.
 
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Socialism is based on profit.

The original reason child labor was outlawed was because Adult workers complained about children taking their jobs.

The 1850 FSA was the Fed gov't subsidizing the slave based economic system.

No, it was because the children were being treated like slaves.
 
Socialism is based on profit.

The original reason child labor was outlawed was because Adult workers complained about children taking their jobs.

The 1850 FSA was the Fed gov't subsidizing the slave based economic system.

Are you wacked, child labor existed so that others can make more money, kids were cheaper and easily extendable, pure profit motive, and your going to tell us child labor was socialism, too funny
 
Yes, it was sort of a predecessor of capitalism, but it also ran concurrent with capitalism. In earlier forms, mercantilism was controlled more closely by the state / government where in a monarchy the sovereign gave out patents or grants of operation to some wealthy merchant or group of merchants to operate their business. Mercantilism is a very narrow market base at best in most cases. Often it involves a single raw product like tobacco, sugar cane, silver, gold, etc., being sold / traded to either the crown or a monopoly of businesses that produce the end product from it.

Capitalism allows for wider markets with more flexibility in them.

But they are both based upon the profit motive, be it an individual or State, and that is what Obama was pointing out as the abuses of the market system not a flat out attack on capitalism as the topic post implies
 
The welfare state is socialism? ok. I never know because you white libs constantly change the definition.



Confiscating workers' wages to pay for it.

Not only is there an income cap on SS, but your 'one size fits all' socialism punishes Black men and rewards White women. Due to a 10 year life expectancy difference.

And if you don't live long enough to 'collect', your 'lockbox' money goes to the gov't instead of your progeny. :palm:

Hey “chiwawa” you are the one who implied that socialism only serves the “elite and powerful,” so based upon your conclusion, the SS and Medicare you receive is benefiting those people and not you, duh
 
It's just Obama committing yet another redefinition fallacy (capitalism<->socialism and slavery).

Capitalism has no slavery and is not slavery. Capitalism is the VOLUNTARY production of products and services for VOLUNTARY sale at the AGREED UPON PRICE.
Slavery is theft of labor. It is a form of socialism.

Is not capitalism based upon the profit motive? And wasn’t slavery as a business based upon the profit motive?

If you actually read the topic post you’d find that Obama never even used the term capitalism
 
Are you wacked, child labor existed so that others can make more money, kids were cheaper and easily extendable, pure profit motive, and your going to tell us child labor was socialism, too funny

No, in pre industrial society, children began working as soon as they could walk and talk, usually on a family farm, or apprenticing with Dad.

As society industrialized, it was natural for a child to take better pay at a factory job instead of working on the farm, to help support the family.
 
Slavery is not profit. It is theft of labor. It is a form of socialism.

Wrong

Slavery has always existed, however, it bloomed in the Seventeenth Century when the slave trade made it became profitable, and the invention of the cotton gin made it extremely lucrative

You are as I’ll informed on history as you are climate change
 
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