Capitalism and Economic Surplus

Economic Surplus
The general topic that will be covered in this brief essay will be economic surpluses in the capitalistic context. To be sure, the way in which the surplus and largesse of society is managed varies widely based on the form of government in question. However, capitalism has its own way of such a thing evolving and shaping. Perhaps the best example of this would be the United States and what happens with its surplus. While there is little argument that the surplus of society should be used to benefit people who cannot help themselves, there should perhaps be a proper definition and enforcement of who truly is deserving of help and who is not.
Analysis
Before getting to the more personal observations about this topic that the author has, the author would first point to some facets of the two YouTube videos that were to be watched as part of this assignment. The first one is a rather dated video that was published on YouTube by Liberty Pen. The crux of that video is that capitalism is about a number of important topics. These would include the freedom to open and run a business, the freedom to set one’s own prices and the freedom of consumers to quibble or choose based on those prices. The example given with the market and the use of the delivery service to gain/keep business is a good example. It should be noted, however, that higher prices mean more tax money for the government. Thus, this means more for the surplus that will be going towards those that are unable to work and support themselves (LibertyPen, 2011).
The other video, which is nearly three hours in length, is much more informative and eye-opening to those that might have different perceptions about society. For example, one thing the video cites is the partitioning of the “political” class (the 20 percent) and the other 80 percent that are just supposed to live their lives and not question anything. The first-hand footage of Peter Jennings and others in the newsroom and the vernacular they used was quite interesting. If one takes those two items together, one can easily get the perception that the media and the “ruling class” are in cahoots to guide and shape public opinion. One might suggest that they are doing what they are doing to work people against each other and otherwise distract from what is really going on (Epic Quality, 2014).
The personal angle that the author of this response shall take is the “distraction” noted above combined with the rather raucous debate about just how much of the surplus should be dedicated to the people who “cannot” help themselves and what is “too much”. For example, the author of this response knows that half of the federal budget in the United States is Social Security, Medicare and Medicaid. Combine this with other programs like food stamps, WIC and a few others, it is easy to see that a lot of surplus is going to people that ostensibly or supposedly need help. To be fair, there are some people that certainly do need help. For example, “full employment” is considered to be 4-5 percent because there are always people that are between jobs for one reason or another. However, the workforce participation rate in this country is rather low as compared to the past and it is hard to discern why. This leads to the question as to whether there is some truth to the idea that at least some people are gaming the system as a means to not work and support themselves even when they have the ability to do so. Whether proven or suspected, it obviously ruffles the feathers of some people that those that can provide for themselves are instead living off the surplus that is meant for the truly needy (Mathur, 2016).
Conclusion
The structure of the political and media classes in the United States is a blessing and a curse. There are some things that happen that are beyond the comprehension and understanding of the less educated. However, there is also such a thing as cloaking tyranny and oppression of any sort in capitalism and free media. There is clearly a disconnect nowadays between how the media and political class should be acting and what they are actually doing. The acrimony, dishonesty and partisanship that exists in the highest reaches of society is unsettling and it truly pollutes the debate on how to improve society, how to spend the surplus and how much taxation should be used to do all of the above.


















References
Epic Quality. (2014). Noam Chomsky- Manufacturing consent (1992). YouTube. Retrieved 21
February 2018, from https://www.youtube.com/watch?v=AnrBQEAM3rE
Liberty Pen. (2011). What is Capitalism? (1948) - YouTube. YouTube. Retrieved 21 February
2018, from https://www.youtube.com/watch?v=ah23Mm0XlNk
Mathur, A. (2018). The Concerning Drop in Workforce Participation And Role Of Family-
Friendly Policies. Forbes.com. Retrieved 21 February 2018, from
https://www.forbes.com/sites/aparnamathur/2016/05/25/the-concerning-drop-in-
workforce-participation-and-role-of-family-friendly-policies/#279095965c6c