Capitalism's Legacy: Destruction, Exploitation, and the Need for a New Way
Over the past year, as I’ve engaged in countless discussions on platforms like LinkedIn, it’s become increasingly clear to me that a pervasive “mind-blindness” grips much of the Global North when it comes to capitalism. Despite the overwhelming evidence of the system’s destructive impact, particularly on the Global South, many people in the West remain stubbornly blind to its flaws. This blindness is not accidental; it is the result of decades of deep-seated propaganda and systemic conditioning that have ingrained the belief that capitalism is not only the best system but the only viable one.
In my previous critique of capitalism, I touched on how this system fails to meet the needs of those who don’t conform to its narrow definitions of productivity and value. This follow-up will delve deeper into the mechanisms that perpetuate this blindness, particularly the role of propaganda in shaping Western perceptions. Works like the “Black Book of Communism” have played a crucial role in cementing negative views of alternative systems, ensuring that any critique of capitalism is dismissed out of hand. The focus on the supposed “evils of communism” has created a smokescreen, blinding many to the immense death toll and destruction that capitalism itself has wrought across the world. This article aims to peel back that smokescreen and confront the uncomfortable truths that have been conveniently ignored (and, yes, I brought plenty of receipts).
The Myth of Capitalism as ‘The Only Way’
The belief that capitalism is the only viable economic system is a deeply entrenched conviction in the collective consciousness of the Global North. This notion has been carefully constructed and perpetuated over centuries, creating a nearly unassailable myth that capitalism is synonymous with progress, freedom, and human advancement. This pervasive belief has effectively stifled meaningful discourse around alternative economic systems, rendering them unthinkable or, at best, dangerously idealistic in the eyes of many. To understand how this mindset has taken hold, it’s essential to examine the historical, cultural, and ideological forces that have contributed to its dominance.
The roots of this belief can be traced back to the ideological battles of the Cold War, a period that decisively shaped global perceptions of economic systems. During this era, the United States and its allies in the West positioned themselves as the defenders of capitalism, pitting their economic model against the communism espoused by the Soviet Union and its “satellites,” or sovereign socialist states united in a common struggle against Western imperialism and capitalist exploitation … as they might have viewed it. The narrative was deliberately crafted to draw a stark contrast: capitalism was framed as the embodiment of freedom, democracy, and prosperity, whilst communism was depicted as inherently oppressive, tyrannical, and economically disastrous. This binary view was not only promoted but aggressively enforced through various means, including propaganda, political rhetoric, and international policy. The fear of communism, often referred to as the Red Scare, was so potent that it led to widespread paranoia and the suppression of any ideas or movements by government agencies like the FBI that could be remotely associated with socialism or communism.
The cultural impact of the Cold War cannot be overstated. In the “West,” particularly in the United States, anti-communist sentiment seeped into every facet of society, from school curriculums to popular media. Educational systems were designed to highlight the “successes of capitalism,” often presenting it as the pinnacle of human achievement. The failures and atrocities committed in the name of capitalism, particularly in the Global South, were either ignored or downplayed, creating a skewed and incomplete picture of global economic history. Textbooks and classroom discussions rarely addressed the devastating impact of capitalist imperialism, focusing instead on the narrative of capitalist triumph and the supposed inefficiencies and moral failings of alternative systems.
Media outlets, most of which were and continue to be controlled by corporate interests, played a significant role in perpetuating this narrative. Hollywood, for example, produced countless films and television shows that glorified the capitalist way of life, equating it with personal freedom and “the American Dream.” News media often echoed these sentiments, framing capitalism as the natural and inevitable choice for any society that values progress and democracy. Stories that challenged this narrative were either marginalised or framed in such a way as to discredit them. This selective storytelling ensured that the public remained largely unaware of the brutal realities of capitalism, particularly its impact on marginalised communities and the Global South.
Political rhetoric further reinforced the idea that capitalism was not just one of many possible economic systems but the only one that could deliver prosperity and freedom. Politicians, particularly in the United States, have long invoked the language of capitalism as a moral imperative, equating any critique of the system with unpatriotic behaviour or a threat to national security. The repeated mantra that there is “no alternative” to capitalism has been a powerful tool in silencing dissent and maintaining the status quo.
Together, these forces—education, media, and political rhetoric—have created a powerful and pervasive belief system that makes it difficult for many in the Global North to even imagine a world beyond capitalism. This mindset, deeply ingrained and fiercely defended, has effectively blinded many to the system’s flaws and the destructive impact it has had on much of the world. It has also prevented the serious consideration of alternative economic models that might offer more equitable and sustainable ways of organising society. As a result, capitalism continues to be seen as the only way, even as its failures become increasingly evident in the lives of millions around the world.
The Founding Myths of America and Capitalism
America’s founding myths are often wrapped in the rhetoric of freedom, democracy, and the pursuit of a better life, yet they conveniently omit the capitalist and imperialist origins that played a crucial role in the country’s establishment. The romanticised narratives of “brave pioneers” seeking liberty obscure the reality that the early colonies were, in fact, corporate ventures driven by profit and economic gain. The Virginia Company, one of the earliest and most significant of these enterprises, was not founded on ideals of freedom or democracy but rather on the pursuit of wealth. Established by royal charter in 1606, the Virginia Company was tasked with exploiting the resources of the New World, with little regard for the Indigenous populations who already inhabited these lands.
The Virginia Company and similar entities operated with a distinctly capitalist mindset, focusing on resource extraction, land acquisition, and the creation of profitable enterprises. These early corporate colonies laid the groundwork for the economic systems that would come to define the United States, embedding capitalist practices into the fabric of the nation from its inception. The pursuit of wealth and the expansion of markets were primary drivers of these colonial endeavours, setting the stage for the broader imperialist policies that would follow.
A significant but often overlooked cause of the American Revolution was the colonies' desire to expand westward into Indigenous lands. By the mid-18th century, many colonial settlers were eager to push beyond the Appalachian Mountains into territories inhabited by various Indigenous nations. However, the British Crown, wary of the costs associated with defending these expanded frontiers and maintaining control over distant territories, sought to restrict this expansion. The Proclamation of 1763, which forbade settlement beyond the Appalachians, was an attempt to avoid further conflict with Indigenous peoples and to prevent costly wars that would drain British resources.
This restriction was seen by many colonists as an intolerable infringement on their rights and ambitions. The desire for land and the wealth it represented was a powerful motivator for many colonial elites, who viewed the Crown’s attempts to limit westward expansion as an obstacle to their economic interests. In this sense, the American Revolution was as much about economic freedom—the freedom to exploit land and resources—as it was about political independence. The Crown’s resistance to colonial expansion can be seen as an early form of cost-benefit analysis, where the potential destruction of property and the expense of military engagements were weighed against the economic gains of the colonies. This aspect of America’s founding story highlights the often-overlooked reality that the nation’s birth was deeply intertwined with capitalist and imperialist ambitions, rather than purely noble ideals of liberty and justice.
The Destruction Wrought by Capitalism and Imperialism
The destructive legacy of capitalism and imperialism is vast and deeply entrenched, particularly in the Global South, where the pursuit of profit has often come at the expense of human lives, cultures, and environments. From the earliest days of European colonisation, capitalist ventures, driven by the need for resources, markets, and wealth, have wrought unimaginable suffering on indigenous populations and exploited regions. The death toll and cultural devastation caused by these imperialist expansions are staggering, with estimates of between 145.7 million and 250.6 million lives lost as a direct result of these actions.
Where these numbers come from:
Darwin, J. (1980). Imperialism in Decline? Tendencies in British Imperial policy between the wars. The Historical Journal, 23, 657 - 679. https://doi.org/10.1017/S0018246X00024936.
Newbury, C., Davis, L., Huttenback, R., & Davis, S. (1987). Mammon and the Pursuit of Empire: The Political Economy of British Imperialism, 1860-1912. Journal of Interdisciplinary History, 19, 119. https://doi.org/10.2307/204236.
Westad, O. (2005). The Global Cold War: The revolutionaries: anticolonial politics and transformations. , 73-109. https://doi.org/10.1017/CBO9780511817991.004.
Said, E. (1993). Culture and Imperialism. . https://doi.org/10.2307/40150113.
Hansen, A. (2008). The New Imperialism. . https://doi.org/10.2307/j.ctt18fsc2b.4.
Crosby, A. (1987). Ecological Imperialism: The Biological Expansion of Europe, 900-1900. . https://doi.org/10.2307/3984090.
The colonisation of the Americas by European powers serves as a prime example of how capitalism and imperialism are inextricably linked. The Virginia Company spearheaded the English colonisation of what would become the United States, motivated not by a desire for freedom or democracy, but by the pursuit of profit. The extraction of resources, such as furs and tobacco, and the establishment of agribusiness plantations were all designed to enrich European investors at the expense of the indigenous populations who were systematically displaced, enslaved, or exterminated to make way for these ventures. This pattern of exploitation was not unique to the Americas; it was replicated across Africa, Asia, and the Pacific, wherever European imperial powers sought to expand their influence.
The imposition of brutal regimes was another hallmark of capitalist imperialism. In many colonised regions, local populations were subjected to oppressive rule designed to maximise the extraction of resources and labour. The Belgian Congo is one of the most infamous examples, where King Leopold II’s regime led to the deaths of an estimated 10 million people through forced labour, starvation, and disease, all in the pursuit of rubber and ivory. Similar stories can be found in India under British rule, where famines, often exacerbated by colonial policies prioritising the export of food and resources, led to millions of deaths.
The devastation wrought by capitalist imperialism extends beyond the immediate loss of life and the destruction of cultures. The long-term impacts of these actions continue to shape the Global South today, manifesting in persistent poverty, deepening inequality, and severe environmental degradation. Many of the regions that were once colonised remain economically dependent on the Global North, locked into exploitative trade relationships that favour the interests of former colonial powers. This economic dependency is a direct legacy of the capitalist exploitation that characterised imperial rule.
Environmental degradation is another enduring consequence of capitalist imperialism. The relentless extraction of resources, often without regard for the ecological consequences, has left many parts of the Global South with devastated landscapes and depleted natural resources. The deforestation of the Amazon, driven by the demand for timber, cattle ranching, and agriculture, is just one example of how capitalist imperatives continue to ravage the environment. This destruction not only contributes to climate change but also threatens the livelihoods of the indigenous peoples who have lived in harmony with these ecosystems for centuries.
As such, the destruction wrought by capitalism and imperialism is both vast and ongoing. The death toll, the exploitation of resources, the imposition of brutal regimes, and the devastation of indigenous cultures are all part of a historical pattern that continues to affect millions of lives today. The Global South, in particular, bears the scars of this legacy, struggling with the lasting impacts of poverty, inequality, and environmental degradation that are the direct consequences of capitalist imperialism.
Western Hegemony and the Crushing of Alternatives
Western hegemony, particularly under the leadership of the United States, has long been characterised by the ruthless suppression of any challenges to its capitalist dominance. This has been achieved through a variety of means, including coups, invasions, economic blockades, and more recently, the orchestration of “Colour Revolutions.” These actions are not merely defensive maneuvers but are proactive strategies designed to maintain and expand the reach of global capitalism, ensuring that alternative economic systems are crushed before they can take root and pose a threat to Western interests.
Throughout the 20th and 21st centuries, the United States, often with the support of its allies, has systematically undermined governments that dared to challenge the capitalist order or sought to implement alternative systems such as socialism or non-aligned movements. Latin America has been a particular target of these interventions. The infamous coup in Chile in 1973, orchestrated by the CIA, saw the overthrow of democratically elected President Salvador Allende, who had been pursuing socialist policies. Allende’s government was replaced by the brutal military dictatorship of Augusto Pinochet, who swiftly reversed Allende’s reforms and opened Chile’s economy to multinational corporations, ensuring that profits flowed back to the United States.
Similar tactics have been employed across the globe. In the Middle East, the 1953 coup in Iran, also orchestrated by the CIA and British intelligence, ousted Prime Minister Mohammad Mossadegh after he attempted to nationalise Iran’s oil industry. His removal and the subsequent installation of the Shah paved the way for Western oil companies to maintain their control over Iran’s vast oil reserves, securing a steady flow of profits to the West. This pattern of intervention has been repeated time and again, from Guatemala and Nicaragua in Central America to Congo and Angola in Africa, where Western powers have worked to topple governments that threatened capitalist interests.
In more recent years, the tactics have evolved, with the United States and its allies using technology and social media platforms to stage “Colour Revolutions” in various countries. These revolutions, often portrayed as grassroots movements for democracy, are frequently backed by US intelligence services, the State Department, and tech companies. Their goal is to destabilise and overthrow governments that are unfriendly to Western economic interests, replacing them with regimes that are more amenable to capitalist exploitation.
Ukraine is a striking example of this modern form of intervention. Following the 2014 revolution, which was heavily influenced by Western support, Ukraine’s new government has increasingly aligned itself with Western interests. President Volodymyr Zelenskyy, under significant pressure from the West, has opened up Ukraine’s economy to foreign investors. This has led to the large-scale acquisition of Ukrainian farmland by multinational agribusinesses, effectively placing the country’s most valuable resource in the hands of Western corporations. The profits generated from Ukraine’s agricultural sector now flow not to the Ukrainian people but to international conglomerates, further entrenching the economic dependency of the Global South on the West.
These actions serve a dual purpose: they ensure that no viable alternatives to capitalism are allowed to flourish, and they secure the continued dominance of Western capitalist interests across the globe. By installing friendly regimes and opening up economies to Western multinationals, the United States and its allies maintain a global economic order that benefits a select few at the expense of the many. The crushing of alternative systems and the subsequent exploitation of resources in these regions underscore the lengths to which the West will go to preserve its hegemony and prevent any challenge to its capitalist orthodoxy.
The Dire Economic Situation in the West
The economic situation in the West, particularly in countries like the United States, has become increasingly dire for the majority of the population, even as the ruling class continues to amass unprecedented wealth. This growing inequality is not an unfortunate byproduct of capitalism but rather a feature of the system, driven by rent-seeking behaviours and the relentless pursuit of profit, often at the expense of workers. In recent years, the use of artificial intelligence (AI) has further exacerbated these issues, as corporations deploy advanced technologies to maximise profits whilst cutting labour costs, leading to widespread job insecurity and economic instability for many.
Rent-seeking, a practice where individuals or businesses seek to increase their share of existing wealth without creating new wealth, has become rampant in the West. This behaviour is particularly evident in the housing market, where large investment firms and private equity companies have bought up vast amounts of residential property, driving up rents and home prices. These companies, often backed by the same ruling class that controls much of the global economy, extract ever-increasing amounts of wealth from ordinary people who are struggling to afford basic necessities. Meanwhile, the profits generated from these rent-seeking activities flow back to a small elite, further entrenching the divide between the wealthy and everyone else.
The role of AI in this landscape is particularly troubling. Whilst AI has the potential to revolutionise industries and improve lives, in the hands of profit-driven corporations, it has been weaponised to maximise profits in real time, often at the direct expense of consumers and workers alike. AI is now being utilised to set the maximum possible prices for essential goods and services, from rents and groceries to commodities. The advent of ‘surge pricing’ in groceries and fast food is a clear example of how AI is manipulating markets to extract every last penny from consumers, particularly during times of high demand or crisis.
This technology is not just used to inflate prices for consumers; it is also being employed by major corporations, such as the four big meat companies, to squeeze maximum profits from farmers and ranchers. By leveraging AI, these companies can drive down the prices they pay to producers whilst simultaneously charging as much as the market will bear at supermarkets. This creates a situation where both ends of the supply chain—producers and consumers—are being exploited to benefit a small elite. These developments serve the interests of the ruling class, who see their profit margins soar, whilst ordinary people face escalating costs and shrinking incomes, further exacerbating economic inequality and insecurity.
Harvard College, often viewed as one of the most prestigious educational institutions in the world, plays a significant role in perpetuating this system. With an endowment of over $50 billion, Harvard operates less as a traditional educational institution and more as a private equity firm with an educational side hustle. The institution has long been an incubator for the ruling class, producing research and policy papers that support the interests of the wealthy whilst training the next generation of elite leaders to uphold and expand these interests. Harvard’s influence stretches back to the early days of the American colonies, and it has consistently served as a bastion of capitalist ideology, shaping the minds of those who go on to hold significant power in government, finance, and industry.
The media, often owned and controlled by members of this same ruling class, plays a crucial role in gaslighting the public, distracting them from the true sources of their economic woes. Through a constant barrage of sensational news, superficial celebrity gossip, and polarising political coverage, the media diverts attention away from the structural inequalities and exploitative practices that underpin the current economic system. When economic issues are addressed, the narrative is frequently framed in a way that absolves the ruling class of responsibility, instead placing the blame on external factors or, worse, the individuals themselves.
Political responses to these issues have been largely absent or ineffective, further reinforcing the entrenchment of capitalist interests. The two major political parties in the United States, often seen as polar opposites, are in reality two sides of the same capitalist coin. Both parties are heavily influenced by corporate donations and lobbying (aka, political corruption), ensuring that their policies align with the interests of the wealthy. Any meaningful challenge to this system is swiftly suppressed, often through legal means. For example, socialist, Green, and independent party candidates frequently face legal challenges to ballot access, preventing them from gaining a foothold in the political arena. This rigging of the game in real time ensures that the status quo remains unchallenged, and the ruling class retains its grip on power.
As a result, the economic situation in the West continues to deteriorate for the many, even as the few at the top prosper. The system is designed to maintain this imbalance, ensuring that capitalism remains the dominant force, regardless of the cost to society as a whole.
The Propaganda of the ‘Black Book of Communism’
The ‘Black Book of Communism’ has played a significant role in shaping Western perceptions of communism as an inherently evil and destructive force, a narrative that has been deeply ingrained in the collective consciousness of many in the Global North. This book, first published in France in 1997 and distributed in the United States by Harvard University, has been accepted almost as gospel by those who vehemently oppose communism. The book’s impact has been profound, with its claims about the death toll of communism often cited as irrefutable evidence of the system’s failures. However, the origins of the ‘Black Book’ and the methods used by its authors reveal a far more complicated and controversial story—one steeped in propaganda rather than objective analysis.
The ‘Black Book of Communism’ was written by a group of historians and scholars, many of whom were known for their rabid anti-communist views. These authors approached their work with a clear ideological agenda, aiming to equate communism with the worst atrocities of the 20th century. The numbers they produced—claiming tens of millions of deaths under communist regimes—have been widely accepted and repeated uncritically in the West. These figures are often quoted without attribution, as though they are universally acknowledged facts, when in reality, they stem from a single, highly contested source. This is the nature of effective propaganda: people unknowingly repeat talking points that have been carefully crafted to advance a particular narrative, without questioning the validity or origins of those claims.
Harvard’s role in distributing the ‘Black Book’ in the United States added a veneer of academic legitimacy to the work, further cementing its status as a definitive account of communism’s atrocities. Yet, this endorsement by one of the world’s most prestigious institutions belies the fact that the book’s methods and conclusions have been widely disputed by scholars. Critics have pointed out that the authors of the ‘Black Book’ often used dubious methodologies, including conflating deaths from famine, civil war, and repression, whilst attributing them all directly to communism. Furthermore, the book’s approach has been criticised for lacking historical context, ignoring the complex socio-political factors that contributed to these tragedies, and failing to compare them with similar events under capitalist regimes.
The focus on the supposed atrocities of communism as presented in the ‘Black Book’ has served to distract from the far-reaching death toll and destruction caused by capitalism, particularly in the Global South. By fixating on the horrors of communism, this narrative has blinded many in the West to the systemic violence and exploitation perpetuated by capitalist systems. The imperialist ventures of Western powers, driven by capitalist motives, have led to the deaths of millions through war, colonialism, and economic exploitation—figures that are often conveniently overlooked or minimized in mainstream discourse.
In this way, the ‘Black Book of Communism’ has not only shaped a one-sided view of history but also perpetuated a dangerous myth that capitalism, despite its flaws, is inherently less destructive than communism. This narrative has allowed the systemic violence of capitalism to remain obscured, preventing a critical examination of its impacts and ensuring that the capitalist order remains unchallenged. By understanding the ‘Black Book’ as a piece of propaganda, rather than an objective historical analysis, we can begin to question the narratives we have been taught and open the door to a more nuanced and honest discussion about the true costs of both communism and capitalism.
Final thoughts …
As we conclude, it is crucial to reiterate the central theme of this discussion: capitalism is not the only way, and its destructive impact on both people and the planet must be recognised and addressed. The narrative that capitalism is synonymous with progress and prosperity is a carefully constructed myth, perpetuated by those who benefit most from the system’s inherent inequalities. However, the reality is that capitalism, with its relentless pursuit of profit, has left a trail of devastation, particularly in the Global South, where entire cultures have been decimated, and millions have lost their lives to the extractive and exploitative practices of imperialist powers.
It is also essential to acknowledge the role of patriarchy in reinforcing and sustaining the capitalist system. Capitalism thrives on hierarchical structures, where power is concentrated in the hands of a few, often at the expense of marginalised communities, including women and indigenous peoples. In contrast, matristic civilisations, which prioritise community, cooperation, and the well-being of all members, offer a compelling alternative to the patriarchal and capitalist order. These societies, many of which have existed for thousands of years, provide valuable lessons in how to live in harmony with nature and one another. By revisiting and learning from these matristic models, we can begin to repair the damage wrought by capitalism and move towards a more equitable and sustainable future.
To this end, it is imperative that we raise awareness of the true costs of capitalism and explore alternative systems that prioritise human and environmental well-being over profit. We must ask ourselves fundamental questions: Do humans have a right to natural resources like food and water? Is there a human right to housing? Capitalism, with its tendency towards monopoly and oligopoly, often denies these basic rights by concentrating resources in the hands of a few, leading to widespread poverty, inequality, and environmental degradation. In contrast, many indigenous cultures hold beliefs that no one can own nature and that all members of the community share in its bounty. For example, the Haudenosaunee Confederacy, also known as the Iroquois, practiced a form of governance that emphasised collective ownership and stewardship of the land. Similarly, the Maori of New Zealand view land and natural resources as taonga, or treasures, that are not owned by individuals but are instead held in trust for future generations.
These indigenous practices stand in stark contrast to the capitalist mindset, which views nature as a commodity to be exploited for profit. By embracing these alternative perspectives, we can begin to challenge the dominant narratives that have shaped our understanding of economics and governance. It is time to critically examine the stories we have been told and to seek out diverse perspectives on how we can organize our societies in ways that promote justice, sustainability, and the well-being of all.
In my own case, I draw inspiration from the indigenous practices of the West Highlands of Scotland before the arrival of capitalism. The family and kinship systems that once governed the Highlands were based on mutual support, collective responsibility, and a deep connection to the land. However, with the Union of the Crowns and the subsequent Acts of Union, this way of life was systematically dismantled by a parcel of rogues who sought to impose capitalist values on a people who had thrived for centuries under a very different system. The destruction of the indigenous way of life in Scotland is a stark reminder of what is lost when capitalist forces are allowed to dominate.
Thus, the time has come to challenge the notion that capitalism is the only viable economic system. We must recognise the harm it has caused and begin to explore alternative models that prioritise the well-being of people and the planet. By learning from indigenous practices and matristic civilisations, we can envision a future where resources are shared, communities are strengthened, and nature is respected rather than exploited. Let us move beyond the narrow confines of capitalist ideology and work towards building a world that is just, equitable, and sustainable for all.