Which is better, capitalism or anti-capitalism?
Some folks want to “burn it all down,” but what happens next? On this Queer Money, we debate the merits of capitalism versus anticapitalism. Start your journey to financial independence by getting rid of any credit card debt with the free, 7-Step Credit Card Debt Slasher.
Capitalism versus anti-capitalism
There are a lot of folks in the LGBTQ community who claim to be anti-capitalists. And while money has been used to commit harm against people and the planet, dropping out of the economic system has its own negative consequences.
So, can you be an anti-capitalist and still participate in our capitalist system? What is the best way to work toward positive change?
Hadassah Damien is the award-winning LGBTQ artist, economics researcher and finance educator behind Ride Free Fearless Money. Laura Boo MacDonald is a performance artist and self-described anti-capitalist accountant. Together, they are the cohosts of Bottom Lines Top Dollars, a podcast about ‘all the money things you suspect might be ruining your life.’
On this episode of Queer Money®, Hadassah and Laura join us to define capitalism and anti-capitalism, explaining how both systems exist on a spectrum and why the current iteration of capitalism prioritizes shareholder profits above all else. Hadassah and Laura discuss how creating value in exchange for money existed long before capitalism and describe how our economic system incentivizes acting selfishly, even when it’s harmful to others.
Listen in for insight on fostering a worldview of shared responsibility and find out why the goals of anti-capitalism can’t be achieved by dropping out of the capitalist system.
Listen to Hadassah and Laura discuss capitalism vs. anti-capitalism:
Topics Covered
- How Hadassah and Laura define capitalism and anti-capitalism
- The legal structures established in the 1800’s that prioritize shareholder profits above all else
- How creating value in exchange for money existed long before capitalism
- How capitalist and anti-capitalist principles exist on a spectrum
- How Hadassah thinks about fundamentalist Christian efforts to influence laws and society
- Laura’s take on Adam Smith’s idea of a ‘truly virtuous person’ and how capitalism incentivizes acting selfishly (even when it’s harmful to others)
- How the queer community has benefitted from capitalism in the form of corporate donations
- How corporations are incentivized to give money away for tax breaks and why Laura is wary of allowing corporations to decide which projects move forward
- Why the political goals of anti-capitalism can’t be achieved by dropping out of the capitalist system
- Hadassah and Laura’s hope that we’ll move away from a worldview of individualism toward one of shared responsibility for the collective good
Previous 3 Podcast Episodes
- How to Calculate Your Retirement Number
- 5 Unique Steps to Reach Financial Independence
- What You Should Know about ESG Investing
Resources
- The Wealth of Nations by Adam Smith
- The Theory of Moral Sentiments by Adam Smith
- CreditWise
- Queer Money Facebook Group
- Subscribe to Queer Money on Apple Podcasts
- Email [email protected]
Connect with Hadassah & Laura
Connect with David and John
- Debt Free Guys on Youtube
- Queer Money Facebook Group
- Queer Money on Instagram
- Subscribe on Apple Podcasts
- Email [email protected]
We’re David and John Auten-Schneider, the Debt Free Guys (www.debtfreeguys.com) and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.