The UK is experiencing some of the worst shortages of oil. One contributing factor is that the old strategic reserve of oil was privatized, then when it was considered unprofitable to keep it running (repairs and maintainence were needed) most of it was gotten rid of.
A totalizing principle, or system, reduces every part of society to one value, or relationship.
In capitalism, the principle is profit.
In capitalism the assumption is that if something is making a profit, it’s also providing value. You should only do things that provide value and the more money something makes the more value it has. So, the strategic reserve wasn’t providing profits, and had to go, since it provided no value.
The next piece of logic is that someone who is making a profit obviously knows how to provide value. The more money someone has, the more control they have, and the more money they should have. The tendency of capitalism to lead to money concentrating in a few hands is good: those are the people who know how to create money and thus value.
Capitalism, like other totalizing systems, works best when it’s kept in check by something else: religious values, democratic values, enlightenment values, or whatever, backed up by forces powerful enough to resist totalization: governments or churches, for example.
When it doesn’t it tends to destroy the conditions for its own functioning: all the wealth goes to the top, for example, and you get a Great Depression due to a demand crash, as happened in the 30s.
Or capitalism makes massive profits based on damaging the environment, and you have an environmental collapse — ongoing and upcoming.
Capitalism tries to reduce all relationships to monetary ones. When you privatize trains, or healthcare, you’re following the profit motive. When you make everyone work, then have their childrens raised by strangers (daycare, and to an extent school) you’re totalizing it. When people say domestic and emotional work should be paid, they’ve bought into a totalizing system: since they’re creating value, money should pass hands.
Capitalism thus reduces everything to money: if it has value it should involve money, and if it pays little or nothing it obviously doesn’t have value. So if you’re low paid, and you want to be seen as valued, you want money.
Even when we try to fix the problems of capitalism we try to do so thru money: so we have carbon offsets (paid), and there is a movement for a carbon tax, and so on.
It doesn’t seem to occur to us that some things just shouldn’t be allowed: don’t dump more than X amount of carbon into the atmosphere, period, or you go to prison. Or make sure that insulin doesn’t cost $400, or you, yes, go to prison.
In properly functioning societies there are sacred objects: things which money is not allowed to control. Perhaps this is our relationship with God; perhaps it is “don’t cut down all the forests”, perhaps it is access to healthcare for all no matter how little money they have; or perhaps it is access to law, so we provide lawyers to those who can’t afford them (and not overworked lawyers who can’t represent well.)
Perhaps we have public financing of election and limits of private spending to influence elections, since we value democracy and don’t think that rich people should control the government.
When a totalizing systems destroys other values, and degrades sacred goods and values and items, it destroys the circumstances required for its own existence, but in so doing it also brings catastrophe upon the society is totalizing.
You can see this today, not just in the shortages (cause by over-optimizing supply chains to increase profit), or in the environment, or the lack of access to law for most of the population, or in huge prices for health care and a refusal to share vaccines throughout the world, but in almost everything that is causing our societies to degrade. Since nothing is sacred except money to us any more, nothing survives unless it makes maximum profits for the rich.
But the things we need most, like clean air and water, a liveable climate, affordable healthcare, healthy food, and loving family relationships not destroyed by the stress of overwork and poverty, are more valuable for short to mid term profits when sacrificed than when protected and strengthened.
The “solution” of trying to give everything a price and micro-managing incentives doesn’t work. The problem isn’t so much incentives, it is that some things have non-monetary value which cannot and should not have a price put on them. Some things are sacred: democracy, love and unspoiled nature, among many others.
Treated as sacred, these things allow markets to work. Treated as part of markets, their degradation eventually destroys the very environment capitalism needs to continue, and to be more beneficial than harmful.
A world where nothing is sacred, and where no value stands above profit, is a world that will be destroyed.
As it is being.
