Globalist capitalism, the economic system that became dominant since the 1980s, fundamentally deviates from historic capitalism. It is heavily influenced by the Marxist revolt against traditional virtues.
In my new book, The Billionaire World. How Marxism serves the Elite, I point out that this is key as the rebellion against historic capitalism and its ethical standards, creates an moral vacuum, writes historian of comparative religions and author, Hanne Nabintu Herland.
The Billionaire World and Globalist Capitalism: The requirement of trust and reliability – cornerstones of the historic capitalism – have been abolished in the name of atheism and its remarkably strong revolt against religious ethics.
Historic capitalism blossomed precisely coupled with the Protestant ethic and its requirement of values such as trustworthiness, honesty and dependability.
Today’s economic system reflects the valueless approach of atheism to a much larger degree: Life is meaninglessness so the only aim of life is sex, money and power. The hedonist focus on gratifying the self has translated into the legitimization of selfish gain, regardless of its impact on others.
Thereby, we have dumped the very values necessary for capitalism to work properly, in a society increasingly characterized by the degeneration of solidarity and compassion.
The Billionaire World and Globalist Capitalism: Capitalism is defined as the dominant Western economic system since the collapse of feudalism, in which capital and property were privately owned and prices of goods and services were set by the supply and demand in the market, making the art of competition and hard work essential in a system built on ethical standards of trust.
Historically, the Industrial Revolution and international trade brought immense economic benefits to the West.
Capitalism became the ruling economic model, which differed completely from the feudal, aristocratic economic system in which men were basically tied to the hereditary structures and class distinctions.
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The Billionaire World and Globalist Capitalism: In the capitalist system, merchants could become industrial owners or bank directors and manual labour workers could break through the class-system ceiling and enter into completely different vocational fields. The son of a carpenter was no longer automatically destined to become a carpenter like his father.
Yet, in the current economic globalist capitalist system—a term used here to describe the transnational business model in development since the 1980s—the very opposite result is produced: the enrichment of the very few who now control most of world assets.
In this system, wealth is not redistributed back to the Western worker when outsourcing jobs to China and other cheap labour countries.
The income of the lower classes in the West has stagnated—the middle class diminishing, living standards plummeting. Read more here.
