Michael Moore curses capitalism as “evil” and suggests it be supplanted by democracy. Such rhetoric is incendiary and inelegant. Capitalism is not a political system but an extreme on the economic spectrum. Capitalism and democracy are neither complements nor opposites. One does not preclude the other.
To me, the economic spectrum is a medium with capitalism (supply and demand) one on side with socialism (a pure command economy) on the other. Society has become so complicated that only a mix of both concepts will satisfy every individual’s indulgent wants. I think that the political spectrum can range from democracy to totalitarianism, which allowances for both left and right perspectives.
To criticize capitalism as malevolent is erroneous; it is a system with rules and regulations. I am not naive and do not have an illustration that both political and economic systems in North American operate optimally but a system cannot assume human characteristics. Humans working in the system can have good and bad ethics but the system itself cannot have morals.
Moore is right to cast the spotlight on leaders who have acted in their own self-interest to the detriment of others. If a Department of the Treasury staffed by officials with affiliations to Goldman Sachs wishes to push through a seven hundred billion dollar bailout package with only three pages of documentation, there is a problem. If the senator who is Chairman of the Banking, Housing and Urban Affairs Committee wishes to deregulate the mortgage industry while receiving preferable loans from a major lender, there is a problem.
The film is right to cast the spotlight on leaders who have acted in their own self-interest to the detriment of others. If a Department of the Treasury staffed by officials with affiliations to Goldman Sachs wishes to push through a seven hundred billion dollar bailout package with only three pages of documentation, there is a problem. If the senator who is Chairman of the Banking, Housing and Urban Affairs Committee wishes to deregulate the mortgage industry while receiving preferable loans from a major lender, there is a problem. If judges who are receiving payments from the company to whom the juvenile detention system has been outsourced are conducting five minute hearings and exponentially increasing their conviction rates, there is a problem.
Hypocrisy is intolerable to me. Advocates for capitalism who criticize ceilings on profits when they succeed and beg for bailouts when they fail are insufferable.
I understand the definition of a derivative and instruments such as mortgage-backed securities and don’t think it’s overly complex. Still, I was taken aback when so many financial analysts could not adequately explain the concept to the camera. I don’t fault banks for trading in these risky securities but don’t think that the government is responsible to pick up the tab if they collapse. Thankfully for Canadians, when the United States was deregulating their financial system, Finance Minister Paul Martin held firm, refused to follow step, and did not permit mergers between the charter banks.
Viewers should understand that while Moore tells a compelling story by pointing the camera at compelling, everyday people, he is not impartial. He contrives to edit his footage and creates a context that suits his perspective. This is not a documentary but – as Homer Simpson says – infotainment.
As usual, Moore shows how the United States seems to be absurdly stupid at times. I don’t know what to say because his many films highlight some scenes that are simply counterintuitive to a reasonable person.
Don’t people think? Really. **½