[Misterioso]

....the philanthropic nature of pure capitalism.

The nature of capitalism is productivity, not philanthropy.

[agere_contra]

The nature of capitalism is productivity, not philanthropy.

Well said. The author had a slight hiccup there. But otherwise an excellent piece

[CowboyJay]

"The nature of capitalism is productivity, not philanthropy."

I was never arguing the nature of capitalism. Neither do I rail against it. There's a distinction to be made between capitalism and corporatism. Capitalism is an individual activity; corporatism is a form of collectivism.

The outcomes of individual capitalism are generally philanthropic, and beneficial to the welfare of societies that engage in it. The outcome of collectivist global corporatism is not. The purpose, and result, of incorporation is to produce an entity with greater influence than the sum of its' constituent shareholders.

That entity serves only itself, and it will over time become predatory and or/parasitic in nature as a corporate entitiy is incapable of human conscience. Shareholders bear no legal liability to society beyond their financial holdings in the company, so personal responsibility is removed also. The corporate entity becomes perfectly sociopathic, in that it lacks conscience to prevent wrong-doings, and feels no responsibility for retribution.

[Thom Pain]

My guess is this stems from the truism that without the accumulation of (excess) capital there can be no philanthropy.