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The collective management of capital has never been realised by any country. Just as Rand would not call today's capitalist countries representative of her idea, so too would a true socialist not call those countries socialist which never actually realised the idea.


Additions:

  • The combined effort of many people which creates capital.
  • My interpretation of socialism: The reason why capitalism must go is that those without capital do not want the relationship that those with capital want, and those without capital do only out of necessity. So, while it is okay for those with capital, it is not okay for those without, and their solution is socialism, the collective management of capital. No longer would they need to eat out of any one's hand, they would contain both the mind of a capitalist and a worker, a worker who works for success and not for a pittance. It is not rational to want to live out of need to those that have, but it is rational to want to have what you need without an intermediary manipulating your actions for their profit.
  • My view at this time: I would not label myself a socialist, just someone who has picked up an idea for examination. I am not certain that capitalism is the preferable way. The world is made of variables, and these labels serve only to oversimplify and obscure the full depth of the world, which hinders the subtle and sophisticated solutions to the problem of how humans should live from being found. So, I am tempted to want to eliminate those labels, and talk in more detail about the variables, conflicts and solutions. And I have a feeling it would be much harder for Rand to evade the possibility of other solutions than capitalism, the more detail that allowed into the analysis.

Definitions

(Oxford English Dictionary)

Capitalism n. 1. The possession of capital or wealth; an economic system in which private capital or wealth is used in the production or distribution of goods and prices are determined mainly in a free market; the dominance of private owners of capital and of production for profit.

Communism n.1. a theory that advocates the abolition of private ownership, all property being vested in the community, and the organization of labour for the common benefit of all members; a system of social organization in which this theory is put into practice.

Communism n. 2a. A political doctrine or movement based on revolutionary Marxism, seeking the overthrow of capitalism through a proletarian revolution, the social ownership of the means of production, and the creation of a classless society. Cf. Marxism–Leninism n., Eurocommunism n.

Communism n. 2b. A system of government in which all economic and social activity is controlled by the state acting through the medium of a single authoritarian political party, with the purported aim of realizing the doctrines of revolutionary Marxism. Cf. Bolshevism n.

Socialism n. 2. A theory or system of social organization based on state or collective ownership and regulation of the means of production, distribution, and exchange for the common benefit of all members of society; advocacy or practice of such a system, esp. as a political movement. Now also: any of various systems of liberal social democracy which retain a commitment to social justice and social reform, or feature some degree of state intervention in the running of the economy.

State capitalism n. 1. A political (esp. socialist) system in which the State exerts exclusive control over a substantial proportion of the means of production and the capital created by this.

State socialism n. 1. A political system with socialist characteristics in which the State owns public utilities and major industries; support for or advocacy of this system.

asked Jan 30 '13 at 19:07

Adeikov's gravatar image

Adeikov
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edited Jan 31 '13 at 17:12

Adeikov, multiple questions within one entry are usually frowned upon on OA because it disenfranchises viewers from being able to search for and study specific topics. I'd suggest boiling down your questions into one primary question, or asking multiple questions on different subjects.

(Jan 30 '13 at 22:46) JK Gregg ♦ JK%20Gregg's gravatar image

Adeikov, I don't want to work, put my money into a collective pool and then have the collective dictate to me whether I should drink a Coke or a Pepsi that evening. Do you?

(Jan 31 '13 at 11:43) Humbug Humbug's gravatar image

I agree with JK Gregg's comment about limiting a "question" to one main question. There is, however, a very dominant theme in this "question" that raises nothing less than the central theme of Atlas Shrugged: the theme of "collective management of capital," which in Atlas is: the role of the mind in man's existence. The connection is the concept of "capital" -- where it comes from, what it depends on, and (in Galt's words) "who depends on whom, who supports whom, who is the source of wealth, who makes whose livelihood possible and what happens to whom when who walks out."

"Collective management of capital" also raises the issue of physical force, which paralyzes and destroys rational minds, who make "capital" possible in the first place. Those who endorse the question's premises don't wish to consider the origin of capital; for them, capital is already here, and the only remaining task is to decide how to distribute it. Note the "tribal" (collective) premise at work here, too: the presumed, unquestioned need for a powerful central authority to do the distributing, and the assumption that "capital" belongs to "society."

answered Jan 31 '13 at 02:06

Ideas%20for%20Life's gravatar image

Ideas for Life ♦
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Asked: Jan 30 '13 at 19:07

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Last updated: Jan 31 '13 at 17:12