Illustration: Daniel Diosdado for TIME
Capitalism is often treated like a fetish. By fetish, I mean an intense fixation or obsession. The term originates from the Latin word factitius, signifying something artificial or manufactured, as opposed to natural. Capitalism is indeed a man-made construct, and its influence has been disproportionately inflated by the relentless fixation and unwavering devotion it receives. However, if we take a step back and clear our vision, we can discern the harsh reality: our world is in turmoil. Our planet is besieged by fires, floods, and pollution, while the standard of living continues to decline. Future generations, particularly millennials, face a bleak outlook. Meanwhile, the wealthiest individuals on the globe have seen their fortunes double in a mere four years.
Calls for systemic change, even minor proposals like implementing a modest wealth tax, are met with resistance from those who benefit most from capitalism. Privilege often breeds a wilful blindness to the inherent flaws of the system, rendering its beneficiaries incapable of acknowledging its faults.
From my vantage point as a member of the affluent elite, capitalism may seem advantageous, yet it has historically perpetuated violence and scarcity for the majority. Born into a family of substantial wealth, I inherited a multimillion-dollar fortune at a young age. Financial advisors promptly materialized, tasked with managing my family’s substantial resources, all sharing a single-minded focus: protect and expand wealth at all costs. The insatiable pursuit of growth seemed to be their singular creed, with no consideration for limits or social responsibility.
My inquiries about achieving a point of “enough” wealth, beyond which excess could be redistributed, were met with bafflement. The advisors remained fixated on relentless expansion, advocating for investments in properties, stocks, and other assets to fuel perpetual wealth accumulation. Meanwhile, ordinary individuals toiled in my enterprises, generating profits that ultimately flowed into my coffers. Their hard-earned wages circled back to me through rent payments, mortgage obligations, and purchases from my businesses, highlighting the inherent power dynamics of the capitalist system.
Dismayed by this unequal distribution of wealth and influence, I resolved to divest myself of as much wealth as feasible. Initially, I made unilateral decisions regarding charitable donations, believing it was my prerogative as the benefactor. However, this arrangement felt inherently imbalanced, with my actions impacting numerous lives without their input. Seeking guidance from like-minded individuals, including fellow philanthropists committed to wealth redistribution, I learned to relinquish the illusion of indispensability. I lacked any extraordinary abilities; my power was derived solely from wealth within the capitalist framework.
This power, intricately linked to economic leverage, was dismantled through a democratized approach to decision-making and resource allocation. By advocating for transparency and inclusive participation in governance, we challenged the prevailing power structures and rejected the notion that we must perpetuate established hierarchies. Some proponents of philanthropy argue that such endeavors can bolster the ten
The concept of fetishizing capitalism extends beyond mere material wealth; it encompasses one’s livelihood, social standing, personal value, and perception of the world. However, there comes a time when it is imperative to release this fixation. Quoting Supreme Court Justice Louis D. Brandeis, who famously remarked, “We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we cannot have both.”
While the term “fetish” is commonly associated with sexual desires, it is essential to recognize that sexual fetishes operate within defined boundaries and with consent. To those who idolize capitalism, it is suggested to metaphorically don a harness. The avenues to explore include regulation, redistribution, and reparations. Developing a new economic framework demands patience, systemic alterations, and substantial dedication. Democracy empowers individuals to influence the prevailing system. By reshaping the structures, imposing regulations on capitalism to restrict it to a consensual practice among consenting parties, and democratizing access to resources and authority, a transformative shift can be achieved.
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