Who is the main culprit behind the late-2000s financial crisis? Capitalism. Or at least the culprit Michael Moore identifies is capitalism. Moore in his documentary, Capitalism: A Love Story, unfolds his transformed perception of capitalism as an evil that preys off the majority for the enrichment of the affluent minority. He claims back in the 1950s, capitalism was definitely not hated; the top tax rate was 90% which meant the country had the capacity to build infrastructure, provide free healthcare, and guarantee pensions while the citizens were free of debt or close to being free of debt. However Moore argues, the “turning point” of capitalism was under Ronald Reagan’s administration. The “spokesmodel” for banks and corporations, as Moore …show more content…
Moore’s sentiment towards capitalism most accurately reflects my sentiment towards capitalism in that capitalism focuses too much on money rather than life. Accordingly, I concur to Moore’s portrayal of capitalism as a deleterious system and to his disclosure of the ramifications of capitalism. I most strongly agree with Moore’s point that it was not only deceitful that the big corporations obtained $700 billion of tax money - money that is hard-earned and reserved to improve the nation for the good of all - but also truly improper in that they used that unimaginable amount of money for their personal luxury and comfort. In addition to agreeing with Moore's arguments, I also acknowledge his rhetorical style incorporating a wide range of emotions from sympathy (to those with foreclosed homes) to shock (from how exploited the workers are) to exasperation (towards the big corporations that used the citizens’ money with no regret). I also applaud Moore’s delivery of his main argument through a compilation of interviews, video footages, and narration in the sense that he was able to cover a broad range of evidence to substantiate his claim and expose the faults of capitalism. As a plus, visually the film was never boring. However David Gritten, Telegraph’s film critic, makes a critique. “Overall, the film confirms Moore as a provocative, skilled entertainer, but also exposes his lack of a first-class mind. Here[in the film], as ever, he outlines a big argument, but fails to sustain it.” I disagree with Gritten’s critique of the film in that Moore has outlined a big argument on capitalism and sustained the argument by corroborating his claim that capitalism is damaging with numerous anecdotes, interviews, and facts.
In American Colossus: The Triumph of Capitalism, 1865 - 1900, H.W. Brands worked to write a book that illustrates the decades after the Civil War, focusing on Morgan and his fellow capitalists who effected a stunning transformation of American life. Brands focuses on the threat of capitalism in American democracy. The broader implications of focusing on capitalism in American democracy is the book becomes a frame work based on a contest between democracy and capitalism. He explains democracy depends on equality, whereas, capitalism depends on inequality (5). The constant changing of the classes as new technologies and ways of life arise affect the contest between democracy and capitalism. By providing a base argument and the implications of the argument, Brands expresses what the book attempts to portray. Through key pieces of evidence Brands was able to provide pieces of synthesis, logical conclusion, and countless
In his work, “Overselling capitalism,” Benjamin Barber speaks on capitalism’s shift from filling the needs of the consumer, to creating needs. He tells how it has become easier for people to borrow money, so that they no longer get as much satisfaction from affording necessities. He says capitalism can be good when both sides benefit, but it has overgrown and must continue creating needs, even though the only people who can afford these needs don’t have any. According to Barber, people are still working hard, but them and their children are becoming seduced by unneeded shopping. He states that people are becoming more needy, and losing discipline in their lifestyle. Additionally capitalism must encourage easy and addicting shopping to
The financial crisis of 2007–2008 is considered by many economists the worst financial crisis since the Great Depression of the 1930s. This crisis resulted in the threat of total collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. The crisis led to a series of events including: the 2008–2012 global recessions and the European sovereign-debt crisis. The reasons of this financial crisis are argued by economists. The performance of the Federal Reserve becomes a focal point in this argument.
There were many factors that triggered the financial crisis in 2008, with one of the main ca...
Throughout the movie, Michael Moore wants the audience to feel the emotion that he, as the director, has put into the film. Michael Moore puts his life work into this movie because this, for him, was not just a new movie subject, this affected his family directly. His father lost his job at an assembly line after thirty-seven loyal years of service because the company thought they could make more money cutting the workers. He has spent countless hours and years on the film because he was able to see that the economy was self destructing with greed. Moore uses Aristotle’s persuasive appeals to show the corruption throughout America that has come from a capitalistic economy.
Capitalism has brought us any useful tools and systems: the laptop I type this on, the money I brought it with, the fame that means you 've heard of me and are reading this. We are nothing if not adaptive, and if these systems and tools have now fulfilled their function, or have become a hindrance, we owe them no loyalty, we must move on; it is not an unconditional commitment.
Michael Moore used comical tactics as a way to appeal to his audience in this piece of literature. Michael Moore’s argument is that capitalism is destroying the nation’s economy rather than helping to develop it. The poor are suffering, while the richer are getting richer. The arguments that Moore used may not be considered tangible by all, but he definitely did have the evidence to support his argument. Michael Moore purpose was to expose this ground breaking issue of the dominance of corporate America through video. He used the web source as a source to get his message across because he knew the internet would be accessible to many people. Moore in this film used the different elements of reasoning to identify the message he was sending to his audience.
This, however, leads to a rise in the level of unemployment in the society which causes a significant fall in the workers’ wages and therefore the businessmen can start exploiting the workers again. Marx justified that capitalism to be unfair. Marx was also an additionally an incredible admirer of capitalism. Among the documentary's numerous astonishing disclosures, Stephanie Flanders demonstrates how The Communist Manifesto contains paeans of applause to capitalism and all it has accomplished. Marx opposed requires a prompt outfitted transformation of the specialists. Rather he accepted that just when we had got all that we could out of capitalism might we be able to bear the cost of the revolution.
The causes of the Great Recession all started as hundreds of billions of dollars was given to the United States abroad and financiers conceiving were to make a profit and what better way but the real estate market. Since the Community Reinvestment Act of 1977 and an expansion made in 1995 the than President Bush endorsed the program that created Option adjustable rate mortgages (nick-named “Pick-A-Pay”) to allow for bank to sell these options even though they were high risk (Conservapedia, 2013). The Community Reinvestment Act of 1977/95 is defined as to framework financial institutions, state and local governments, and community organizations to jointly promote banking services in the community” (Office of the Comptroller of the Currency, n.d.). That being said, there were three individuals, and firms that contributed the most to the recession including Senator Charles Schumer D-NY, Fannie Mae, American Ins...
The financial crisis occurred in 2008, where the world economy experienced the most dangerous crisis ever since the Great Depression of the 1930s. It started in 2007 when the home prices in the U.S. Dropped significantly, spreading very quickly, initially to the financial sector of the U.S. and subsequently to the financial markets in other countries.
Capitalism is officially defined as “an economic system in which trade, industry and the means of production are controlled by private owners with the goal of making profits in a market economy” or better put by Michael Moore a “system of taking and giving, mostly taking”. I analyzed “Capitalism: A Love Story” by the documentary film maker Michael Moore to form a better understanding of the term “capitalism” and how it has affected those associated with it.
(Murphy, 2008) The US banking sector was first hit with a crisis amongst liquidity and declining world stock markets as well. The subprime mortgage crisis was characterized by a decrease within the housing market due to excessive individuals and corporate debt along with risky lending and borrowing practices. Over time, the market apparently began displaying more weaknesses as the global financial system was being affected. With this being said, this brings into question who is actually to blame for this financial fiasco.
The causes of the crisis are various. In 1927, the Wall Street financiers started to buy shares on the stock market, followed by people pushed to invest their capital on the stock exchange. There were people who committed all they had, encouraged by consultants that were either not honest nor capable. The voice on the street thought, suggested that this unexpected growth was going to end very soon.
.... Moore suggests that revolution is a two-step open spiral. From the starting point, society has to go back and destroy the corruption. Once the injustice disappears, society can start rebuilding its values and move forward. If the staging is efficient, then there will be no more need of destruction, and society can solely focus on creation. However, to reach such a stage of reconstruction, it is not only necessary to destroy the past but also to understand the value of power, freedom and one's inevitable social and political responsibility. This understanding is a crucial defensive mechanism since oppressive regimes can only take power from those willing to give it up.
Lynn Harsh (Nov. 2002). ‘Capitalism – A Deal with the Devil?’. Retrieved on Mar. 23 from: