State capitalism archives

Just shut the fuck up

I don’t mean to be rude. But this issue is important.

There are lots of reasons to despise Alexander Hamilton — given his record as a Caesarian centralizer, rampaging war-luster, and the spiritual and political father of U.S. state capitalism. There are also lots of cases where Thomas Jefferson was better than Hamilton on things that Hamilton was rotten on. This should be taken into account if you are ever trying to rank U.S. revolutionaries according to their libertarian merits. But the reverse is also true, and the issues that Jefferson was rotten on — like, oh, slavery — were not small potatoes or minor personal foibles. And while I think that Will Wilkinson is making several interrelated mistakes, among them misrepresenting and unfairly minimizing the case against Hamilton, when he says…

If you think central banks are a bigger issue for liberty than human enslavement, trade, or the growth of capitalism then your priorities are screwed.

Will Wilkinson (2008-04-07), comments on ABJ @ The Fly Bottle

… what I would like to stress, at the moment, is that if you ever, ever find yourself thinking that it might possibly be appropriate to reply to a remark like that by saying something like this:

Central banking is one of the worst forms of human enslavement, actually. You should try going out more often, WW, and read some Hoppe and DiLorenzo for good measure.

Alberto Dietz (2008-04-09), comments on ABJ @ The Fly Bottle

Then you need to stop. Right there. And just—well, you know the rest.

Thomas Jefferson wrote a couple of documents that I admire very much. One of them I consider to be one of the finest and most important political documents written in the history of the world. But Jefferson was a man, not just the signature on a series of essays, and he also did many other things in his life. He was an overt and at times obsessive white supremacist. He was a rapist. He was a posturing hypocrite. He was President of the United States. He was himself a war-monger, who launched the United States’ first overseas war within months of his first inauguration. Most of all, he was a active slaver, a lifelong perpetrator of real, not metaphorical, chattel slavery. He violently held hundreds of his fellow human beings in captivity throughout their lives and throughout his, with the usual tools of chains and hounds and lashes. He maintained himself in an utterly idle life as a landed lord of the Virginia gentry by forcing his captives to work for his own profit, and living off of the immense wealth of things that they built and grew by the sweat of their own brows and the blood of their own backs. He had no conceivable right to live this life of man-stealing, imprisonment, robbery and torture, and no justification for it other than racist contempt for his victims and the absolute, violent power that he (with the aid of his fellow whites) held over the life and limb of hundreds of victims. He knew that his own words in the Declaration of Independence condemned his own actions towards his slaves, who were by right his equals, beyond appeal, but he went on enslaving them anyway for the rest of his life and would not even make any provisions in his will to set them free when he finally died. He was a hereditary tyrant, claiming, based solely on his descent, the right to go on perpetrating a reign of terror over his prison-camp plantation more hideous and invasive than anything ever contemplated by the most absolutist Bourbon or Bonaparte. Not because he was in any way extraordinary or at all harsher than the average, compared to other white slavocrats, in how he treated his slaves—but rather because that kind of terror and violence is part and parcel of what forcing hundreds of people into chattel slavery means. As insidious and destructive as government-centralized banking and the money monopoly may be — and I am the last person to deny that — it is callous, counter-historical, inhuman bullshit to try and pass it off as one of the worst forms of human enslavement in comparison to American chattel slavery. It’s bullshit that needs to stop.

A side note. When trying to explain Jefferson’s view on slavery, one thing that a lot of people seem to take as a point in his favor is his opposition to the trans-Atlantic slave trade. In 1807, Jefferson in fact signed a bill banning the trans-Atlantic slave trade (which could not take effect until 1808 because the U.S. Constitution only granted Congress the power to regulate the international slave trade 20 years after its ratification). It comes up a couple of different times in the same comments thread.

Unfortunately, it doesn’t actually speak in Jefferson’s favor. Jefferson, like many other white Virginian slave-camp commandants, was indeed for banning the trans-Atlantic slave trade, which he, like many other white Virginian slavers, sometimes fiercely denounced as infamous and inhumanly cruel. They were right about that part, and they were right that the trans-Atlantic slave trade ought to have been banned, but their primary reasons for wanting it banned were quite different from what people reading them today often conclude. If, after all, they were actually against the slave trade for humanitarian reasons, then they certainly ought to have the same problems with the internal slave trade in the United States, and the exportation of slaves out of the United States (for example, down to the death-plantations of the Caribbean). Those parts of the slave trade also involved the hellish passage of hundreds of slaves, shackled below decks, in sea voyages from New England or the upper South to the far-away places they were sold down to. But you’ll find little of that from Jefferson or his fellow white Virginian slavers, and the reason is that they profited from the internal slave trade. By the late 18th and early 19th century, Virginia was in the process of a long decline in agricultural productivity, but the landed lords held on to their stream of pirated wealth — by becoming the leading exporter of slaves to other, more productive plantations, down in the Deep South and in the Caribbean. Jefferson’s opposition to the slave trade, like that of many of his fellow Virginia slavers, was not nascent abolitionism. It was pure protectionism, designed to prop up the Virginian slave-traders’ profits while they retained the same absolute, violent power over their slaves at home.

Hope this helps.

Further reading:

Tyranny means never having to say you’re sorry

Here’s a brief clipping from Wired’s recent profile on Bill Baker, a structural engineer who specializes in gigantic skyscrapers. He’s currently working on a project for the Emir of Dubai which, when completed, will be the tallest building in the world:

In spring 2003, a pair of developers invited Baker and two of SOM’s managing partners to dinner at a restaurant overlooking the Manhattan skyline. The developers worked for a company in Dubai called Emaar, and they wanted to construct the tallest building in the world. Dubai was eager to make its mark, and because its ruler, Sheikh Mohammed bin Rashid al-Maktoum (known affectionately by locals as Sheikh Mo), supported the project, there would be no litigious neighbors or pesky air traffic controllers to muck things up. There are some places in the world that are like, Let’s do it, get it done, Baker says. Dubai is one of those places. Emaar gave SOM two weeks to submit a proposal for a residential building, to be known as the Burj Dubai. The Dubai Tower.

Andrew Blum, The Ultrabuilder, in Wired 15.12 (December 2007), p. 224.

In other words, this monumental building project got rammed through, while the people who have to live in its shadow and the airline operators that have to fly around it are legally prevented from doing anything to effectively voice their objections, let alone to get some kind of compensation for the inconveniences, costs and disruptions that such gigantic projects inevitably impose on their private property or their long-established business in common resources and transit lanes. That’s because Bill Baker’s gigantic skyscraper is the pet project of Sheikh Mo, the enormously wealthy, relentlessly self-aggrandizing, and completely unaccountable petty tyrant of Dubai, who can personally manipulate any legal proceeding, override any attempt by ordinary people to get some kind of redress, and shove around any business in the country, if any of them threaten to get in the way of yet another multimillion dollar monument to himself.

It takes a certain kind of mindset to crow about the will and the ability to trample on everybody else’s homes, lives, and livelihoods in order to get a big project rammed through as if it were the positive, can-do sort of attitude that the political-development complex ought to adopt always and everywhere. That mindset is no less tawdry and mean for being so common amongst the most powerful, influential and well-connected people on earth.

Cognitive Dissonance of the Non-Libertarian Left

Pam Martens’ recent article in CounterPunch looks at the rickety finance sector and the role that CDOs—complex securities that tap into the cash flow from a multilayered portfolio of debt obligations—have played in the money barons’ recent woes. Her piece is, oddly, titled The Free Market Myth Dissolves into Chaos. I say it’s odd, because here is what we find by the second and third paragraph from the top:

Given that these big Wall Street players now own some of our largest, taxpayer insured, depositor banks (courtesy of a legislative gift from Congress called the Gramm-Leach-Bliley Act) and the Federal Reserve is shoveling tens of billions of our dollars into some very big black holes, …

… The Bush administration is spinning the mess as a subprime mortgage problem lest the public figure out that a $1 Trillion unregulated market has blown up under the free market noses of this administration.

Pam Martens (2008-01-03): The Free Market Myth Dissolves into Chaos

There are many kinds of manipulation and jobbery that go on actually existing capital and finance markets that deserve criticism, and the Left, including Martens, have some wise and insightful things to say on this point. The mystery is where the terms unregulated market and free market come into the picture. When one directly mentions government-imposed, tax-funded deposit insurance, and government cartelization of the entire banking industry under the auspices of a government-created, government-controlled central bank, one would expect at least a little recognition of the fact that we are dealing with a market rigged by government interventions to insulate and direct high finance. If nothing else, one would expect that the switcheroo from a critique of actually existing state capitalism to a critique of free markets might wait for at least a few more paragraphs, in order to make the manifest cognitive dissonance a bit less excruciating.

Further reading: