CAPITALISM IS A FETISH. AND WHEN I SAY FETISH, I mean the actual definition of the word: an obsessive preoccupation or attachment; a fixation.
The word fetish is derived from the Latin factitius: imitated, opposed to the natural. And capitalism is unnatural-or human-made. Its power has been blown out of proportion precisely through the obsession, devotion, fixation through which it is regarded.
But if we rub our eyes, we can see more clearly. And we see a mess. The planet is burning, drowning, suffocating. Living standards fall continuously, millennials are screwed (never mind the following generations). Meanwhile, the five richest men in the world doubled their wealth from 2020 to 2024.
And yet, any cries for change to the system, even just for the tiniest wealth tax, remain frowned upon by those who benefit the most from capitalism. There is a blindness that comes with privilege that makes you unable to see the structures around. And that makes you unable to criticize a rotten system.
For the few rich people like me, capitalism still seems beneficial, but it has always been a system of violence and deprivation for the many nonrich. I was born into a family worth billions and inherited my first multimillion-dollar fortune at just 30. Several financial advisers, whose only job is to manage my family's wealth, appeared and offered to take care of my share. It was odd. They seemed to have one belief: protect and grow. Wealth must grow―there's never enough. And it may consume everything to do so.
When I asked how much is enough, so I could redistribute excess wealth, they didn't understand, saying they would keep growing it. They wouldn't explain how, just that assets were good. I came to understand I was to buy property, mortgages, stocks, and shares, and a magical market would increase their value, effectively pouring money into my bank account.
But on the other side of the equation were ordinary people, whose hard-earned money was being directed to me, whatever I did. They would work in my businesses, where their labor generates "my" profit, and then they would spend their wages on rent or mortgages they owe me, and on products from my company. That's the power of this system.
I WOULDN'T HAVE IT, and instead decided to give away as much of my wealth as possible. At first, I made the decisions myself, since it was my money. But that felt wrong. So much power, again, in my hands, and so many people affected by my decisions who didn't get a say. So I asked around and met likeminded people-even other wealth holders keen to redistribute. And they taught me to not fall into the trap of believing that I a...
The word fetish is derived from the Latin factitius: imitated, opposed to the natural. And capitalism is unnatural-or human-made. Its power has been blown out of proportion precisely through the obsession, devotion, fixation through which it is regarded.
But if we rub our eyes, we can see more clearly. And we see a mess. The planet is burning, drowning, suffocating. Living standards fall continuously, millennials are screwed (never mind the following generations). Meanwhile, the five richest men in the world doubled their wealth from 2020 to 2024.
And yet, any cries for change to the system, even just for the tiniest wealth tax, remain frowned upon by those who benefit the most from capitalism. There is a blindness that comes with privilege that makes you unable to see the structures around. And that makes you unable to criticize a rotten system.
For the few rich people like me, capitalism still seems beneficial, but it has always been a system of violence and deprivation for the many nonrich. I was born into a family worth billions and inherited my first multimillion-dollar fortune at just 30. Several financial advisers, whose only job is to manage my family's wealth, appeared and offered to take care of my share. It was odd. They seemed to have one belief: protect and grow. Wealth must grow―there's never enough. And it may consume everything to do so.
When I asked how much is enough, so I could redistribute excess wealth, they didn't understand, saying they would keep growing it. They wouldn't explain how, just that assets were good. I came to understand I was to buy property, mortgages, stocks, and shares, and a magical market would increase their value, effectively pouring money into my bank account.
But on the other side of the equation were ordinary people, whose hard-earned money was being directed to me, whatever I did. They would work in my businesses, where their labor generates "my" profit, and then they would spend their wages on rent or mortgages they owe me, and on products from my company. That's the power of this system.
I WOULDN'T HAVE IT, and instead decided to give away as much of my wealth as possible. At first, I made the decisions myself, since it was my money. But that felt wrong. So much power, again, in my hands, and so many people affected by my decisions who didn't get a say. So I asked around and met likeminded people-even other wealth holders keen to redistribute. And they taught me to not fall into the trap of believing that I a...
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Time (Digital) - 1 Issue, January 27, 2025