Get the 7 fastest steps to debt freedom!

A Debate on Capitalism Versus Anti-Capitalism

  August 16, 2022  |    #Live Fabulously

Hi there! You new here? We love that you found our little corner of the web. Here at Debt Free Guys, we’re all about helping people experience the freedom of becoming debt free! Would you love to feel that relief? After reading our article below, see how we can help you more here.

What are the arguments on capitalism versus anti-capitalism?

Find out about capitalism versus anti-capitalism and how they coexist on this Queer Money® podcast episode and then kick off your financial independence journey now by getting your free copy of the 7-Step Credit Card Debt Slasher.

Creating value in exchange for money existed long before capitalism 

There are a lot of folks in the LGBTQ community who claim to be anti-capitalists. And while money has been used to commit harm against people and the planet, dropping out of the economic system has its own negative consequences. So, can you be an anti-capitalist and still participate in our capitalist system? What is the best way to work toward positive change?

Hadassah Damien is the award-winning LGBTQ artist, economics researcher and finance educator behind Ride Free Fearless Money. Laura Boo MacDonald is a performance artist and self-described anti-capitalist accountant. Together, they are the cohosts of Bottom Lines Top Dollars, a podcast about ‘all the money things you suspect might be ruining your life.’

On this episode of Queer Money®, Hadassah and Laura join us to define capitalism and anti-capitalism, explaining how both systems exist on a spectrum and why the current iteration of capitalism prioritizes shareholder profits above all else. Hadassah and Laura discuss how creating value in exchange for money existed long before capitalism and describe how our economic system incentivizes acting selfishly, even when it’s harmful to others, and why the goals of anti-capitalism can’t be achieved by dropping out of the capitalist system. 

Listen here to find insight on fostering a worldview of shared responsibility of the capitalist system:

Topics covered about capitalism versus anti-capitalism

  • How Hadassah and Laura define capitalism and anti-capitalism
  • The legal structures established in the 1800s prioritize shareholder profits above all else
  • How creating value in exchange for money existed long before capitalism
  • How capitalist and anti-capitalist principles exist on a spectrum
  • How Hadassah thinks about fundamentalist Christian efforts to influence laws and society
  • Laura’s take on Adam Smith’s idea of a ‘truly virtuous person’ and how capitalism incentivizes acting selfishly (even when it’s harmful to others)
  • How the queer community has benefitted from capitalism in the form of corporate donations
  • How corporations are incentivized to give money away for tax breaks and why Laura is wary of allowing corporations to decide which projects move forward 
  • Why the political goals of anti-capitalism can’t be achieved by dropping out of the capitalist system
  • Hadassah and Laura’s hope that we’ll move away from a worldview of individualism toward one of shared responsibility for the collective good 
“Within the capitalist system, you're actually incentivizing hurting others if it benefits yourself. So, it's a system where the incentives are designed wrong.” - Laura Boo MacDonald Click To Tweet

Connect with Hadassah & Laura 

Resources on capitalism versus anti-capitalism

  • The Wealth of Nations by Adam Smith
  • The Theory of Moral Sentiments by Adam Smith
  • CreditWise

Connect with David and John

Get more on capitalism versus anti-capitalism

We’re David and John Auten-Schneider, the Debt Free Guys and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs, and 3) save and invest for retirement.

Leave a Reply

Your email address will not be published. Required fields are marked *


Get the 7 fastest steps to debt freedom!