The banks and corporations STOLE the wealth that we, the workers, produced. Without our consent, they transferred OUR capital, in the forms of cash and production facilities, to other locations. There, they took advantage of greater levels of exploitation. Their expectation has proven true: despite being robbed by them, we buy their products anyway !
The Meaning of Capital Accumulation
Workers spend the time and labor energy of our life on various things: among them is economic production. Every hour we labor for a wage, we are the ones producing. But that hour of our life-labor is being exploited: we will not be paid equal to what we produce. The excess value of what we produce is taken from us and placed in the coffer of the capitalist. This is no natural right of the capitalist. It is an arbitrary condition we are coerced to accept as an unwritten term of our “employment”. It could just as easily be that at the end of the day, we actually kept everything we produced. This would require us to demand fair payment: “I keep what I produce”.
Capital accumulation, then, is the cumulative wealth that all workers have been dispossessed of, which has then be hoarded by the capitalist.
Who Owns the Accumulated Wealth the Workers Produce?
Given that it is only the workers who produce, it becomes a moral question: Why do I not receive everything I produce? The simple answer is: Because you agreed to be paid less than what you produce. When you accepted the agreement with your “employer”, you did not demand to be paid everything you would produce. You allowed the capitalist to hoard a percentage of your product.
Do you normally agree to expropriation? If I walk into your home, am I welcome to take whatever I want? If not, then why did you agree to being exploited by your capitalist employer? The answer is: “Because they had a gun to your head.” You knew that if you did not accept the exploitative terms, you would be unable to pay bills, and the job would be filled anyway by another unemployed worker. You were just another member of the reserve army of labor. You accepted exploitation out of fear of hunger, homelessness, illness, and possible death. What would be different if they literally held a gun to your head and told you “accept the terms, or else!”
CRASH! The Repeated Crises of Capitalism
“There have been as many as 47 recessions in the United States since 1790.” On average, that’s a recession every 4.8 years throughout U.S. history. Each recession brings loss of employment, closing of businesses, loss of personal wealth, and an increase in worker debt. The last Great Recession of 2008 cost an estimated $29 Trillion in the U.S., and roughly $65 Trillion globally. Millions of families lost their homes and credit. Millions of jobs were lost that will never return.
Bail-out: Working Families Pay the Cost of Capitalist Plundering Schemes
Every time capitalism crashes, losses are endured by workers who often don’t have the savings to allow a break-even. Meanwhile, governments use workers’ taxes or outright money-creation to bailout the defunct capitalist structures. This is reverse socialism: wealth extracted from the workers to preserve the clumsy and fraudulent individuals and corporations that cause the repeated crises.
Austerity: Cutting Us out of the Wealth We Produce
While the Wall Street fraudsters, bankers, corporations, and super-wealthy receive bailouts, the workers receive funding cuts. Schools are shut-down, classrooms over-packed, roads and bridges left to crumble, and drinking-water left full of poison.
Freeloaders: Offshoring Our Stolen Wealth to Avoid Taxes We Need for Public Services
The Meaning of Democratized Economy
When humans work to produce, their produce belongs to them. That’s where the democratization of economy begins. It continues into them making the decisions about how their produce is distributed or accumulated and invested. This is the moral opposite of the robbery system known as capitalism.
Summary: Wealth Stolen, Accumulated, Transferred Elsewhere, Bailed-out, and Utilized Against the Workers
This is the meaning of capital globalization.