‘Pop’ Capitalism

July 29, 2017

Articles

On 4/18/16, I posted an article on my website on Exploitation. I used the exploitation of Stephen Curry of the Golden State Warriors to illustrate the exploitation of workers by capitalists. Too often or should I say always, the corporate media conflates oppression and exploitation. Oppression in this country is obvious: mass incarceration, targeting of national minorities communities and individuals by militarized police, elimination of jobs and jobs that do not pay sufficiently to live, polluted water, and on and on. The concentration of wealth occurs not only with oppression but also with exploitation–that is, the expropriation of value created. In my post, I noted that Joe Lacob purchased the Golden State Warriors for $450 million and as a result of the tremendous popularity of the team and especially Curry the value had risen to $2 Billion. And the contribution to that increase in value by Lacob was less than 10%. But he kept the value nevertheless. Capitalists never share or if they do it is a token of that taken. The article on my website left out an important part of the exploitation. Not only did Lacob take the increase in value, he was paid income–the owners take 51% of the income that is created by the players. On cue, the corporate media is yelling about Curry’s $200 million contract as if it is excessive. The corporate media does not even mention the theft of value by Joe Lacob. And it is massive. The distinction between exploitation and oppression is constantly hidden by the corporate media. That is why Bernie’s reference to the unequal concentration of wealth is such an important political statement. Yours in Struggle Ron

Written by Ronald Glotta

, , ,

About Abenaah Hill

Multimedia Broadcaster

View all posts by Abenaah Hill

Subscribe

Subscribe to our e-mail newsletter to receive updates.

No comments yet.

Leave a Reply