The Solution We Were Taught To Fear: An Academic Essay

You simply can’t go a day as an American without hearing about the economy. Every day, you hear and see the effects of inflation, as well as economic instability and inequity. The rich are getting richer, while the rest are left working their lives away for whatever they can. People are constantly complaining about the economy– it’s outdated and harms the people. The solution we seek is right in front of us, bright and red, and yet it is still seen as a threat. The solution that America’s capitalist government has taught citizens to fear would save them– and that solution is communism. America’s economy, and most economic ideologies, are not only based on money and the market, but are also very prevalent in politics, thus giving the term “political economy.” In order to find the solution for the economic instability and inequity ever so present in the day to day lives of Americans, education is key. So, what exactly is political economy? Well, political economy is how politics impacts economics and vice versa (Frieden). The idea of modern economy and political economy is widely credited to Adam Smith, David Ricardo, and John Stuart Mill, who couldn’t see the two concepts as separate entities. Over the past 50 years, the idea of political economy became more prevalent in both the worlds of political science and economics (Frieden)

There are many quite a few forms of political economy, but mainly (and most commonly known) are capitalism, socialism, and communism (MasterClass). Capitalism, America’s current system of political economy, is most commonly seen as only a free market and access to private property, though it is really much more (Jahan and Mahmud). Socialism on the other hand is the replacement of private property with public property, as well as communal control of the means of production. Communism is simply the end goal of socialism, a more advanced and solidified form that truthfully, differs very little (Ball and Dagger).

Capitalism, which is largely seen as the “good” form of political economy by many Americans, has been around for as long as there has been money. Ancient merchant cities were the very start, but capitalism really took off in the 1500s, in Barbados (DeSmith). There is evidence that by the 1670s, all production was for the market and built off of the exploitation of slave workers (DeSmith).This is exactly how capitalist systems build their foundation– the exploitation of the working class and slaves. Capitalism is the presence of a free market, where wages and costs are determined by the demand with very little interference from the government. However, governments may set basic guidelines for costs in order for people to have access to necessary services such as healthcare (CrashCourse). The pillars of capitalism, according to Jahan and Mahmud, are as follows: private property, self-interest, competition, market demand determining prices, freedom of choice, and a limited role of government. The extent of which each pillar is emphasized determines the type of capitalism being displayed (Jahan and Mahmud). The most common example is mixed economies, where the market is dominated by private companies, but is monitored by the government to correct mistakes and provide safety regulations for people and the environment (Jahan and Mahmud). In a totally free market on the other hand, there is little to no government influence at all, and thus less protection for the people. There are many other types of capitalism as well, which are exhibited around the world. Capitalism changes drastically from place to place and era to era, so only having one set definition wouldn’t nearly encompass all that it can be (CrashCourse).

Not only is capitalism a poorly functioning system in the United States, but around the world. The United Kingdom is one example where inequality in social and wealth status has been becoming more prevalent just as it has been in America (Michie). The issue has been persistent since at the very least the 1980s. In fact, in 1995, britpop band Pulp released a song called “Common People,” which was a social commentary on the issue of classism and the romanticized version of British poverty that lived inside the minds of the upper class. This can be seen in lyrics like the bridge of the song, “Oh, rent a flat above a shop; And cut your hair and get a job; And smoke some fags and play some pool; Pretend you never went to school; But still you'll never get it right; 'Cause when you're laid in bed at night; Watching roaches climb the wall; If you called your dad he could stop it all,” which is fairly straightforward about the message. The song also says, “Laugh along with the common people; Laugh along, even though they're laughing at you; And the stupid things that you do; Because you think that poor is cool,” in the fourth chorus, yet another straightforward message. This inequality is caused by the failures of capitalism, when companies and the ultra rich become further detached from the rest of society due to privilege and the ability to get away with increased tax cuts and even evasion (Michie). Jonathan Michie states in his article “The failures of current capitalism: what next?” a quote that should be taken into account when considering political economy and the state of capitalism, given that these are the words of a well versed professional. This quote is “Unless these gross and dysfunctional inequalities of income, wealth, geography and power are challenged, the current economic and social crises we face looks unlikely to be solved.”

Capitalism promotes inequalities in more than just wealth and class–  it also hs racist roots that are still present in the modern day. As seen in the original red scare, there was also a “black scare” as described by Burden-Stelly. The idea that anything that resembled black liberation was considered “anticapitalist” (Christian). At the time, there was a great divide between Black Nationalists and Black Anticapitalists, since they frequently fought over opposing views, instead of joining forces against the common enemy of white supremacist culture (Christian). Capitalism also provides greater gender inequality, shown by the infamous gender pay gap. Under a socialist system where equity is the norm, such a thing would not occur. There are great contradictions in “femina economica” and the capitalist market of the United States (Coburn). Not only does capitalism oppress people, but also harms the environment. The minimal government control over the market allows more possibilities for extreme pollution and exploitation of resources (Pettinger). The system of capitalism rewards greed and materialism, thus boosting it, which erodes the normalcy of fairness and equity (Pettinger).

On the opposite side of the economic spectrum is communism, a system of economy that, in theory, serves to replace private property and a profit-based economy with public ownership and communal control (CrashCourse). The term “communism” wasn’t used until the 1840s, but is derived from the latin word “communis,” meaning shared or common (Ball and Dagger). Before the formal version of what we now call communism, there were many early examples of communist ideals. These include (but are not limited to) the ideal state described in Plato’s Republic, monasteries, as well as many fictional “utopian” societies. Following the industrial revolution of the late 18th and early 19th centuries, many people, including Karl Marx, had realized issues with class struggles, which sparked the beginning of modern communism (Ball and Dagger). The end goal of modern communism is simple, and it makes sense why it’s shown in fiction as the ideal society–communism achieves utopia and equity for all.

When communism and so-called marxist ideals were put into place historically, it wasn’t quite accurate to the foundations of the ideals (CrashCourse). In the Soviet Union for example, the revolution was not organized by the workers, and resulted in a dictatorship (CrashCourse). A dictatorship, contrary to what American propaganda says, is not synonymous with communism. In fact, it is the opposite of what communism stands for. A dictatorship is a form of government in which all of the power is held in the hands of one person and only distributed at the will of that one person (CrashCourse). As the previous section states, true communism is when the people and the working class hold the power and there is equity for all.

Because of the failures of many communist regimens, it is commonly believed that none have ever succeeded. This belief is only partly true. Interestingly, any time a socialist form of government was beginning to succeed, there would be a western, capitalist power that intervened, often with coup d'etats or warfare (overzealots). An example of a successful socialist form of government was Burkina Faso, once a French colony called Upper Volta (overzealots). In 1983, the colonial regime was overthrown by Thomas Sankara, who immediately changed the name of the nation and decolonialized it (overzealots). Sankara outlawed forced marriage and fought for the liberation of women, and had other policies in famine prevention, education and literacy, improved healthcare, and so much more (overzealots). Within four years, the nation was considered “food self-sufficient” and was thriving, until the assasination of Sankara during a coup d’etat (overzealots). After his assasination, the socialist government fell apart and Burkina Faso regressed back to poverty.

If communism is, in theory, a utopian society, why is it seen so negatively? Well, the answer is very simple– because the bourgeoisie (upper class) wants us to. The capitalist government uses the supposed failures of socialist forms of government as propaganda, showing how people would struggle should communism seep into the “free” nation. One major example of this is the Red Scare. There were actually multiple instances of this, one in the 1920s, one in the 1950s, and really the entirety of the Cold War and Space Race. In the late 1940s and the 1950s, following the second World War, the House Un-American Activities Committee was formed (Heimler’s History). This committee executed a series of trials against people thought to be communists, almost like the witch trials of a more recent time. Hollywood celebrities and federal employees were especially scrutinized at the time, and the extreme media coverage put fear into the minds of Americans seeing how communists are treated (Heimler’s History). This was a form of mass propaganda, which made Americans more obedient and more adept to capitalism. At the same time, under President Dwight D. Eisenhower, there was also a “lavender scare.” This was because he believed that members of the LGBTQ+ were more sensitive to communist propaganda and blackmail, which also led to amplified homophobia. Back onto the scrutiny of Hollywood, there were several notable people in the film industry who refused to comply with the courts questioning on their political beliefs and invasion of their privacy, who later became known as the “Hollywood Ten” (Heimler’s History).

So, with all of the effects of American and global capitalism, is it really the best economic system? Think about each time you buy gas, each time your paycheck is heavily taxed, and each time you see some billionaire partying while you’re trying to pay your bills. Would that stress get to you under socialism? Would you need to worry about such inequity when there is no social or class divide? If class consciousness, the state of being aware of the class divide and wish to eliminate it, were to spread throughout young people who are able to make a change, this could become the reality for Americans. Equity for all, true liberty for all. Our world could be, in the words of Karl Marx, “From each according to his abilities, to each according to his needs.” A true utopia, a solution that we can learn how not to fear, rather to accept.

Works Cited

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