Capitalism
Anarcho-Monarchism asks: Is the word ‘capitalism’ worth defending? It concludes in the affirmative.
From the perspective of Outside in, however, this post misses the most crucial level of the question. Capitalism — like any ideologically contested term — is cross-cut by multiple meanings. Of these, its generic sense, which “simply means that private individuals own the means of production” is far from the most objectionable.
Yet, far more significant is the singular sense of capitalism, as a proper name, for a ‘thing’ or real individual. To grasp this, it probably helps to consider the word as a contraction of ‘terrestrial capitalism’ — not describing a generic type of social organization, but designating an event.
A biological analogy captures the distinction quite precisely. Consider ‘life’ — understandable, certainly, as a generic cosmic possibility, defined perhaps by local entropy dissipation, or other highly-abstract features. Contrast this sense with ‘terrestrial life’ — or, even better, the biosphere (we might say ‘Gaia’ if the hopelessly sentimentalized associations of this term were avoidable). Terrestrial life began at a definite moment, followed a path-dependent trajectory, and built upon a dense inheritance, as exemplified most prominently by the RNA-DNA chemistry of information replication, the genetic code, genetic legacies, and elaboration of body-plans within a comparatively limited number of basic lineages. Terrestrial life is not a generic concept, but a thing, or event, meriting a proper name.
Before it is an ideological option, capitalism is a being, with an individual history (and fate). It is not necessary to like it — but it is an it.
