Ghana, Capitalism and the Fallacy of Freedom and Democracy

According to USA and its European allies, Capitalism ensures freedom and liberty for the people and this idea has been successfully promoted to the masses across the world but is this really the truth?

Does Capitalism promote democracy, freedom and liberty?

Well, let’s see.

A central feature of Capitalism is the doctrine known as the ‘FREE MARKET’.

What is the Free Market?

The free market is an economic system based on supply and demand with little or no government control.
In a free market, the laws and forces of supply and demand are free from any intervention by a government or other authority.

And so, in practice, governments are required to remove all price controls on food, rents and other essential goods and services. Also, subsidies on fuel, health, food and all others must be removed in a ‘Free Market’.

So let us look at an issue that caused huge uproar during the Covid-19 lockdown.

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The issue of market women increasing food prices due to high demand. This was a perfect example of how the ‘Free market’ works.

But, why were many people upset at the situation? It is because they were expecting sellers(suppliers) to be moral and empathetic due to the circumstances but the ‘Free Market’ is neither moral or empathetic. The ‘Free Market’ is immoral and heartless. All that matters is how much money you have to pay for the service or good.

With many people calling for price reduction, what should the Democratic action have been? For the government to step in and impose price controls since many people were going to go hungry because they could not afford to buy at those prices.

But what did the government do? They pretended to not be aware of the loud cries from the masses. Why? Because they were adhering to the doctrines of the ‘Free Market’ and not the wishes or needs of the people.

So right here, the undemocratic nature of the Capitalist Free Market is exposed.

Again, many folks have been crying over excessively high rents being charged by landlords.
Many years ago, there used to be a Rent Control Department but governments adhering to ‘Free Market’ principles have consciously worked to make it toothless because Rent Control goes against the dictates of the ‘Free Market’.

So, the masses are being crippled by exorbitant rents with many being homeless as a result and wish for government to regulate rent prices but what does the government do? Turn a blind eye.

Is this the Democracy and Freedom they preach about?

Had it been left to a vote by the people, it is beyond obvious that the vast majority will vote for government to regulate the costs of rent, food, education, healthcare and other key services.

In other words, the ‘Free Market’ has been imposed against the democratic will of the people. One would have thought it is the wishes of the people that takes precedence in a Democratic State.

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