It is pretty amazing when you think about it. Even Britney Spears or Katy Perry has done more to earn her celebrity status than Prince Charles has ever done to get his. Yet, while he shows in his personal life how living off government welfare corrupts moral character, he gets to preach against all the people who have made life on this planet at its present level of prosperity possible. And his words, backed by zero real experience, are treated with reverence and awe.
Before I point out the error in Prince Charles remarks, let me be clear that he was not speaking to anyone who loves or practices capitalism. According to the Guardian (and Leftist source but useful in this case),
Yesterday’s Conference on Inclusive Capitalism co-hosted by the City of London Corporation and EL Rothschild investment firm, brought together the people who control a third of the world’s liquid assets – the most powerful financial and business elites – to discuss the need for a more socially responsible form of capitalism that benefits everyone, not just a wealthy minority.
If you think these bankers and central bankers have any plan or desire to “benefit everyone” by their crony “capitalism” where they profit from government stimulus, collect interest off fiat currency, and expect government bailouts, then you are part of the problem. Prince Charles’ sermon was a subterfuge. The way the masses get exploited is by being convinced that the higher taxes and greater regulations on the market are being put in place for their own good. It is all a lie.
What has happened is that the consequences of all the corrupt practices of national banking systems—all tied to central banks with their fiat currencies—are starting to get too obvious to be denied. We are not growing in prosperity but we are being progressively impoverished at an accelerating rate. So it is imperative that the people at the City of London and others get out ahead of the potential backlash. They want you to believe that capitalism has cause the income gap and that they are going to fix it for you.
The only glimmer of truth is that they are indeed going to “fix” things—if you know what I mean.
So to Charles’ statement: in general it was all global warming propaganda. The new source of easy money for the financial elite is going to be found in carbon taxes unless we stop them in the next year. Let’s pray we do. It is the economic battle of our generation.
But his beginning sentence deserves special attention:
The primary purpose of capitalism should surely be to serve the wider, long-term interests and concerns of humanity rather than the other way around. So critically, it would require the incorporation of environmental externalities. We would have to account properly for carbon dioxide emissions, the use of water and fertilizer, the pollution we produce, and the biodiversity we lose. All of these would have to be comprehensively considered in our economic and national decision making because inclusive capitalism cannot be truly inclusive if our dependence on natural capital, the economic invisibility of nature is not also included in our calculation.
The primary purpose of capitalism is for us to all work for the benefit of one another. That is what capitalism is. When you and I exchange we each give up what we value less, for what we value more. This is how steam boats and railways and factories changed the standard of living the whole world. This is what produced food and computers. What has Prince Charles produced? Nothing. He just skims off the wealth in society thanks to capitalism and uses what he has gained from it to condemn it.
On externalities, there shouldn’t be any (though at many times governments have forced people to accept pollution and other hazards that would never be permitted in a truly free market). If my factory is really hurting your health then you should take me to court to get me to fix the problem and make restitution for the harm that I have caused. Of course, many things don’t really affect externalities. For example, I can exhale many times while I am writing this post without worrying about violating the rights of others by harming them.
But wait. Prince Charles and his band of raiders are working the angle that exhaling is a form of pollution. Carbon dioxide—a natural element required to help plants produce oxygen in the atmosphere –is a pollutant.
It is a great scam. And it allows them to invent all sorts of accusations against capitalism. But what they are doing is calling us back to poverty. They want us to thank them for imposing poverty on us. Life without mass production and without energy is going to be nothing but grinding poverty.