The right wing especially in USA is notoriously famous for bullshitting about history and what things mean in an attempt to defend capitalism or demonise socialism.
Its a massive problem because it makes good debates harder. I intended to start with particularly bad USA american podcasts like Prager U or Daily Wire which i came across in research as they fundamentally misrepresent both socialism and capitalism thou both were defined by Karl Marx way back in the 1800s.
But i came across a more insidious anarcho capitalist podcaster TIK, he was a war historian and has transited to commenting on politics . Hes well spoken and quotes alot of sources .
He first produced a video in 2019 Public vs Private | The Historic Definitions of Socialism & Capitalism Then with alot of criticism he arrogantly doubled down and produced this video in 2023 TIKs definitions are wrong which i will respond to here as its shorter.
Its extremely problematic because of the way he uses word meanings even thou he says hes using others definitions and he wants a clear understanding . His video muddies the waters further .
1) Public corporations
First he tries to say a privately listed profit corporation which is an individual person once shares are sold to a select group of individuals from the public that profit corporation/person becomes public.
His own quote of amazon shows 10% of the shares are privately owned inhouse, and 30% is held by "public ownership is held by individual investors" ie private investors per TIKs own description . It also shows/says that 30% private shares bought by select public have no say in the running of the corporation but may influence it . He omits the 60% owned by institutional investors of which equity firms like Blackrock etc make the biggest share and these have zero democracy by investors over black rock let alone Amazon. Meaning 70% of Amazon isnt even in individual public ownership. But there is a bigger fundamental problem with TIKs definitions.
As Chat gpt confirmed;
TIK’s argument that Amazon becomes "public" in a socialist sense once it lists shares on the stock exchange highlights a fundamental error and overlooks the key distinction between capitalist and socialist definitions of "public ownership." While Amazon is publicly traded, meaning shares are sold on the stock exchange, this does not equate to "public ownership" in the socialist sense, which defines socialism as the common ownership of the means of production, distribution, and exchange by society or workers.
In the case of Amazon, 10% of the shares are held by insiders, including founders and executives, and another 30% is held by large individual investors, leaving less than a third—approximately 30%—available for purchase by the general public. Moreover, 60% of Amazon’s shares are owned by institutional funds and equity firms, which have significant control over the company. This means that even though the public can buy shares, the company remains controlled by a small group of privileged insiders and large financial entities, who direct its operations to maximize profits, not benefit the wider public.
Socialism, by contrast, refers to the collective or common ownership of the means of production, distribution, and exchange, with the goal of democratizing control over resources and ensuring that profits are equitably distributed among all members of society. In this framework, the public ownership of a company would involve workers or society as a whole having direct control over its operations. In contrast, publicly traded companies like Amazon, despite being listed on stock exchanges, are privately controlled and remain governed by a small, wealthy elite, prioritizing profits over equitable distribution or worker control. Therefore, Amazon is not a socialist company but remains a private, capitalist entity that operates within the capitalist framework, serving the interests of its major shareholders for profit.
2) Word misrepresentation to misrepresent the capitalist economy and socialism
Later he makes another unfounded ridiculous claim by slight of word semantics .
TIK is wrong in his whole claim social =common=public = state= socialism.
Heres the question and answer i received from Chat GPT , unedited asking the question and quoting TIKs sources - i couldnt read the last 2 sources so they are added separately.
I believe TIK is incorrect in his private v public video about the definition of socialism . He says public = common = social = state = socialism. Thus misrepresenting the meaning of public ,state and socialism. by excluding govt from the state when state means with a govt and say socialism is the public or state ownership of the means of production distribution and exchange and that socialists say it is , when they dont . Im surprised Marx would say it as he defines state as the coercive apparatus /tool that helps capitalist class and harms the working class .
Where as I and true Socialists say the common ownership of the means of production etc. because they/we mean the workers or at least the public as a whole.
Comments
Post a Comment