23 Things They Don't Tell You About Capitalism

I’m reading 23 Things They Don't Tell You About Capitalism by Ha Joon Chang, a Cambridge Professor of Economics. He blames free market ideology for much of the world’s economic ills, and points out that the ‘free’ market isn’t really free, it’s just a relative term, because there are hundreds of rules, many of them political, around the market.

Since the West liberalised its trade and finance rules in the 80s, economic growth has slowed considerably compared to the period before. And sub-Saharan Africa, having been forced to open its borders to ‘free trade’, has seen its growth reduced to zero. Developing economies need to be protectionist in order to grow; the US and the UK were when they were building their industries.

What I like about the author’s style is that it is based in common sense rather than technicalities, and he says we can all make economic judgements. And he continually upends the received wisdoms, which as an Aquarian I like.

Here are a few more of his ‘Things’ as he calls them:

Companies should not be run in the interest of their owners

The washing machine has changed the world more than the internet has

Greater macroeconomic stability has not made the world economy more stable

Governments can pick winners

Good economic policy does not require good economists

Ha Joon Chang doesn’t have a political agenda. His only agenda is what promotes the greatest economic growth, based on the evidence.

--------------------

Ad Break: I offer skype astrology readings (£60 full reading, £40 for an update). Contact: BWGoddard1 (at)aol.co.uk

---------------------

I’d often wondered about the ‘free’ market, not just because it clearly has thousands of rules anyway, but also for the common sense reason (that the author doesn’t mention) that all areas of human collective activity need regulation or destructive things happen. Like we saw in 2008 with the mother of all financial crises. I’ve always thought that the people who want the internet unregulated are being naïve. Bad things happen there as well. And bad things happen through mobile phone technology unless governments keep an eye. And someone needs to keep an eye on governments because they will do bad things as well, like when they take necessary surveillance to excess.

The bigger question that Ha Joon Chang doesn’t address is why growth? And what is sustainable? Those are the real questions. We have more than enough to live on in the West, particularly if wealth was shared a bit more equitably, so why does the economy need to keep growing, even if the planet could sustain that? Do we earn to live or live to earn?

The planet needs sustainability. What humans need is the forgotten notion of sufficiency. An idea of what is enough, of there being a point at which our economic needs are met.

This is why recessions can be good things. During the recent one we still had enough to live on, particularly again if things could have been shared out better, but the feelgood factor of growth was not there, so we all felt a bit gloomy. But why do we need to feel gloomy if there is enough to live on? I think in this way recessions can get us to think about our values, about what is in a real sense important.

Economic growth has become the main yardstick by which we judge a nation’s health and happiness. Not the only one, but the main one. And it’s crazy when you think about it, that what gives the most meaning to our collective life is whether we are increasing the rate at which we produce more than we need to live on. As the Buddha said, “All worldlings are mad.” I don’t quite agree with him, and it has religious superiority in it, but he has a point.

As I went into in a previous piece, the US has not put in anywhere near the legislation needed to stop another financial crisis occurring, and has no intention of doing so. The banks, for example, have not been divided into separate retail and investment institutions, and they are even bigger and more complex than they were.

The managerial level of the financial industry has such a power over government that very little has happened in the wake of 2008. A classic example in the UK was that of Fred Goodwin, the head of RBS, a bank that went spectacularly bust and required a huge government bail-out. Yet Fred was allowed to walk away with his £17 million pension pot untouched. After a public outcry, he gave back £4 million of it and he lost his knighthood. And that was that. He kept his reward for failure.

I don’t know about other countries, but certainly the US and probably the UK governments were, and are, being held to ransom by their lightly regulated financial industries. Well, everyone knows that the US Congress is in the pocket of Wall St.

For the West, the financial meltdown of 2008, and its consequences, have been the main event of the Uranus-Pluto square, which still has some years, and several exact crossings, to run. Uranus brings sudden disruptive shocks that open up new possibilities. Pluto brings a death to the foundations of the old, and a chance to rebuild on new foundations.

This was what happened in the last Uranus-Pluto square in the early 30s. We had a similar financial crisis, and governments learned from it and brought in a load of regulations to stop it recurring, and it worked.

But this time we seem to have learned nothing. Well, we learned from the last time not to let the banks go under. But that seems to have been it.

Uranus-Pluto will always bring disruption and change at a fundamental level that takes some years to work through. And the old power base will either be destroyed and reborn ( as it was in the 30s) or the old will remain but strengthened, empowered.

So this is what I think is looking like the most important outcome for the West of this Uranus-Pluto square: an empowerment of the financial industry in essentially its old form, and a strengthening of its stranglehold over government. And the certainty of future financial crises and their destabilising effects on society at all levels.

It’s rather like Rome burning: a decadent West that has been wealthy for so long it takes it for granted, is gradually losing out to the BRIC and other countries. It has borrowed massively to conceal this, and is unable to rectify the situation because it is being run by the financial industry which is seeking its own short-term interests at the expense, if necessary, of the interests of the country.

This is particularly the case in the UK and the US, which are less financially regulated than other western countries, though in the UK the situation is mitigated by the disproportionately international nature of our financial industry, and the earnings that brings us.

But if you want a real conspiracy it is this: the bankers and hedge fund managers really are running the world – well, the US – and their grip is tightening. Pluto in Capricorn. And it’s not a secret cabal, they are just doing what any industry will do if it is allowed to: it will end up advancing its own interests at the expense of the country’s. It is a failure of government.

Goblin Bankers in Harry Potter

And remember, your average banker is not a ‘bad’ person, he’s just doing his or her job, and it is a necessary one. We need our financial industry. There are of course ‘bad guys’ there, but it essentially a collective thing that is going on, a herd thing, if you like. It is often just easier for us to have some stereotyped figures in our mind that we can blame things on. It is lazy, it is an excuse not to think or to be conscious.

Maybe it comes back to Democracy itself. You can’t imagine the Chinese allowing something like that to happen, despite all the bribery and nepotism that goes on. Their government is able to exert its will. Meanwhile the US government is famously paralysed. And if the US is not able to regulate its financial industry, then the rest of the West has to follow suit to a large degree.

The received wisdom has been that Democracy advances hand in hand with the progress of capitalism. And there is a certain truth in that, in that we see the Chinese government having a more open country gradually forced upon it. But maybe that is mainly the internet’s doing rather than wealth.

So these are the major changes that Uranus-Pluto seems to me, from our current standpoint, to be bringing about: a shift in power from the West to the East; the strengthening in the West of the power over government of the financial industries; and a consequent crisis of Democracy in the US.

Humanity Enters the Dreamtime

Neptune began to change sign earlier this year, from Aquarius to Pisces. Neptune governs the underlying myths, the underlying dreams by which we live. This is not just an overlay on ‘objective’ reality: these myths ARE the objective reality. They generate it. It requires a certain amount of subtlety, however, to see this. Naïve literalism, with black and white values, is a much easier and more certain way to live.

A simple example would be the experience of space as a real 3-d box within which everything happens. If you think about it, 3-d space is just a way in which the brain builds relationships between the objects it experiences. It is not literally there, it is just a story. It is a story which, to us, is real.

When Neptune changes sign (about every 14 years), our dreams, our mythologies change. They change anyway as Neptune moves through a sign, they gather momentum. But particularly when Neptune enters a mutable sign, and particularly when it is Pisces, the 12th and final sign of the zodiac, old dreams and mythologies fall apart. Humanity collectively enters the dreamtime, the land where all things are possible, but where all is spirit and it can be hard to manifest.

Humanity is embarking on a big bit of dreaming for the next 14 years, but we will not be properly ready to live it until Neptune enters Aries, the 1st sign of the zodiac, the place of new vision, in 14 years time. 

Neptune is leaving Aquarius, the sign on a collective level of Science and Democracy. And what do we find? In America, the home (as they see it) of Democracy, the system is ceasing to work. In July and August, at a time of financial crisis, the government was paralysed by partisan dispute, and as a result America for the first time had its credit rating reduced. In Europe, another proudly democratic continent facing a financial crisis, the collective government is also paralysed, not this time by partisanship, but by a system that was a product of political idealism that got carried away with itself. The system that is working and that is on the rise, and which is anything but democratic, is Chinese totalitarian government.

As Neptune leaves Aquarius, so is the dream of Democracy starting to fade. With Neptune’s dying breath in Aquarius, we have this year seen the ‘Arab Spring’, the widespread and sometimes successful revolts against autocratic, secular leaders. But as in the Iranian revolution 30 years ago (which took place with the Sun in Aquarius), the eventual outcome seems just as likely to be theocracy: you don’t even need a majority vote for this, just a determined minority, and the Islamists are certainly determined.
__________________________________________________
Ad Break: I offer full webcam astrology readings (£60) and written responses to specific questions (£30). Price negotiable if you’re hard up. Contact me on Dharmaruci71(at)hotmail.com.
__________________________________________________

Only yesterday on BBC News there was an article entitled ‘Dark matter theory may be wrong’. A few days ago there was an article in which the idea of supersymmetry was brought into doubt. In both cases the doubt came as a result of experimental evidence. These theories have become fundamental to the way science sees the universe at the galactic and quantum levels respectively. Science has been stuck for some decades now in trying to develop theories, backed up by evidence, as to how the universe works when faced with the extremely large and extremely small.

I have always doubted the existence of dark matter. You could say Dark Matter is a projection onto the universe of our own ignorance: there’s lots of it – 96% of the universe – and it’s impossible to detect. It’s a case of the Emperor’s New Clothes.

It’s been as though any theory that will explain major gravitational anomalies, however outlandish, is better than no theory. It’s based on a primitive need for certainty.

As Neptune leaves Aquarius, so it seems to me is the dream of Science as in principle able to explain everything, fading. I, for one, am delighted!

There is a difference between ignorance and not knowing. Not knowing is a wonderful place to be: the Universe opens up as a ‘Great Mystery’, and wisdom flows from it. Socrates claimed to be the wisest man in Athens because he knew he didn’t know. In the West, we have become addicted to certainty, whether through the claims of Christianity, or latterly through Science and political ideologies. And this is ignorance, which comes from the word ignore, suggesting something wilful: it’s obvious when you think about it that there’s very little, if anything, that we really know. But we don’t think about this, we feel about it, and it feels uncomfortable and insecure. So we ignore it, we choose to be ignorant. Ignorance is thinking you know.

So this is where Neptune is starting to take us as he enters Pisces: into the place of not knowing which, for humanity as a collective beast, is a very uncomfortable place to be. I think this is why the prophecies around 2012 are so popular: they provide a sense of certainty and even hope in a world which is increasingly uncertain, and in which we are rapidly destroying the environment and resources we need in order to have a future.

To this extent I think the 2012 mythology is a cop-out, a collective delusion. To sort a situation you need to head straight into it, taking the time to re-dream it as you go, on an individual level. There are no inevitabilities in either direction. 2012 mythology is not mainstream, it belongs to the ‘alternative’, more ‘enlightened’ culture, which in this respect is showing itself to be just as superstitious as any collective is in times of insecurity. Some 2012 mythologies are apocalyptic, others describe collective spiritual transformation. In either case, they produce disengagement from the actual problems while we wait for the causeless big event that will change everything.

All the big ideas of the 20th century are failing: communism and democracy as political absolutes, scientific knowledge as metaphysical underpinning, the inevitability of economic progress. Neptune in Pisces is underscoring this. The Great Recession, which seems about to double-dip, and the rise of China, have given the West a tremendous blow to its self-confidence, and this has not fully played through yet by a long chalk. We are still hoping that things will go back to what they were.

Pluto is usually considered to be the planet of ‘power’. And he is that, he gives us the power to live and the power to transform and unfold. His power is basic and raw. But Neptune has his own power, which is the mythologies we live by. People will live and die for them, they are that real to us. There is something human about Neptune that Pluto does not share, because animals and plants do not live by mythologies: they just live, they know what they are, and they get on with it. Pluto lives in the Underworld, he is not human (though he still has a very important role to play for us.)

Neptune, in a way, is also not of the human realm, because he is god of the ocean. But while we cannot visit the Underworld – not, that is, if we hope to return – we have always sailed the seas, we have always visited the life-giving waters of the Imagination which Neptune represents. For humans, Pluto alone does not enable us to live. Without Neptune, we will die of a different kind of thirst.

So Neptune in his own sign of Pisces is tremendously powerful. It is a cauldron of the Imagination. His Ingress into Pisces represents the old certainties failing, and that creates much collective anxiety. We can inevitably expect a retreat into right-wing governments and fundamentalist religions as a response, for now, to that anxiety and insecurity (as well as into millenarian, 2012-type prophecies.) And that is described by the Uranus-Pluto square which is occurring concurrently: the empowerment (Pluto) of radicalism (Uranus), whether of a left or right wing variety. Uranus is an archaic god, and can describe a collective retreat into primitive, less conscious forms at times of insecurity: look at the rise of Fascist regimes under the last Uranus-Pluto square in the 20s/30s.

Rick Perry, Mr Texan Death Penalty, who is starting to lead the Republican race in the US, is an appropriate expression of this.

There is an issue of survival which has not filtered through to the collective yet, blinded as we are by advertising and politicians. The survival issue is of course based around environmental degradation and the profligate consumption of limited resources. Perhaps the larger a collective is, the stupider it gets. Any intelligent individual can see the danger, but what can they do? Preach to the converted? Any ‘primitive’ tribe would have acted by now.

And unfortunately, the party isn’t over yet. There are still enough resources left so that when a humbled West picks itself up again some years down the line (as Uranus finishes its square to Pluto around 2015), it can continue for a while as before, albeit less sure of itself, less dominant in the world. This shift in the world balance of power, away from the West and in favour of the BRIC countries, seems to be much of the meaning of this Uranus-Pluto square.

But all the while Neptune will be in Pisces, a subterranean collective re-dreaming on the part of what is now a global tribe. Uranus-Pluto will come to an end in 4-5 years, but Neptune will remain in Pisces for a further 9-10 years. The party will be continuing, but not with the old certainties: they will be in Neptune’s cauldron.

Interestingly, Neptune’s passage through a sign, 14 years, is about the same time as Saturn takes to complete half a cycle round the Sun. Saturn is the opposite of Neptune, he is the planet of manifestation. When he is opposite himself – opposite where he was when Neptune entered that sign – then there is a strong impulse to manifest. In this way Saturn brings Neptune’s dreams into reality, makes his visions grow corn.

Uranus-Pluto is not just about the shift in the world balance of power. Its influence will be felt at many levels, locally as well as globally. And the empowerment of Uranian radicalism, which is so central to the meaning of this transit, will feed into the re-dreaming of Neptune in Pisces, in the progressive sense of Uranus. Pluto is about survival, and while one response to the current crisis will be a retreat into right wing governments and fundamentalism, another will be a growing awareness of the real threat to our survival.

So there is this other, more hopeful, side to Uranus-Pluto which is kind of inevitable, because Pluto is there to ensure our survival. He is the life-force. You put that together with Neptune in Pisces, and you can see a growing current in the collective, determined that we should survive (Pluto), open to radical solutions (Uranus) and quietly dreaming the sort of world in which this is possible (Neptune.) As I said earlier, there are no certainties, and if we do build a slightly saner world, there is no knowing at this stage what form it will take. But if the outer planets teach us anything, it is that there are powers beyond us, creative depths to nature that in our hubris we overlook. The present situation is certainly an outcome of hubris, and you cannot avoid the eventual cost of that; but the outer planets, nature itself, has a way of surviving, and humanity is part of nature.

We are not just another species, we are a new development, and maybe we won’t last, or maybe most of us will be wiped out, only to repeat the same mistakes, as in Battlestar Galactica, some millennia down the line.

But what we have forgotten is that there is a deeper knowing within us, that knows where to go from here on a collective level, and Neptune in Pisces can take us there. It comes down to whether collectively we are prepared to listen. We ain’t there yet, but as we emerge from the Uranus-Pluto reckoning of the next few years, and as Neptune – as we collectively - have time to dream deeply from there on, a way forward will gradually present itself. Neptune is, after all, the planet of redemption.

The chart for Neptune’s first entry into Pisces, on 3/4 April 2011 (depending where you live) is quite remarkable, for it has 6 planets, including a New Moon, in Aries.

Click to Enlarge

It sends a strong message that out of the collective re-dreaming, the search for new ideas/mythologies, of the next 14 years, something very, very new will be born. As if to underscore this point, the Ingress chart for Neptune into Aries in 2025 also takes place under a New Moon in Aries. Spooky!

I want to be fanciful for a moment, but I have talked about Neptune in Pisces in terms of the Dreamtime, which is an Australian aboriginal idea. And Uluru, or Ayers Rock has come for us westerners to most symbolise that dreamtime. So what was happening at Uluru when Neptune entered Pisces?

Click to Enlarge 

As you can see, the Ascendant was at the midpoint of Pluto and the North Node, both of which were within 5 degrees of the Ascendant. This suggests the power (Pluto) and significance (Node) of the idea of Neptune in Pisces as humanity's Dreamtime.

Pluto in Capricorn: the End of Democracy as an Ideology?

I was just watching some American protesters making the serious point that Barack Obama is not to be trusted because his middle name is Hussein. Never underestimate some people’s capacity for stupidity. They really do believe stuff that most of us would consider comic exaggeration. Like Barack sounds like Iraq, and Obama sounds like Osama, so he must be a terrorist! But you also have to give Americans credit for showing up Sarah Palin for the idiot she is, albeit an intelligent idiot. A well-known comic, Tina Fey, has created a hugely popular and scarily accurate impersonation of her. In one of her sketches that got a lot of laughs all she had to do was recite part of a speech that Sarah Palin had actually made.

As Pluto finally moves from Sagittarius to Capricorn, we are leaving an era of fundamentalism and ideology, and entering a period of pragmatism. The ideology of unregulated markets has been receiving its death blows in recent months. Democracy as an ideology also needs a few death blows. Not that I’m against democracy per se. I’m against the worship of it. It works, sort of, and it’s better than some systems. But it also means that idiots who think that Obama’s middle name is suspicious get a say in who runs the country. And, being an Absolute Truth, it gets used as grounds for invading other countries because they are not democracies.

Democracy has gained ground as an Absolute Truth because its main protagonists, Europe and the USA, also happened to be rich and capitalist. Therefore democracy becomes equated with that great virtue, wealth, and the capitalist system that has produced it. This has been particularly so since the West’s triumph in the Cold War.

However, now we have the rise of China, which is not a democracy, but which is becoming very wealthy through capitalism. So this will relativise democracy, it will no longer be the One True Path. So this may be a theme of Pluto in Capricorn: the undoing of some of the West’s hubris about its own political system, and a more accurate understanding of it as a political approach that works quite well in some ways and under certain circumstances, but not in others. i.e. a pragmatic, Capricornian understanding.

Pluto and the End of History

In 1992 Professor Francis Fukayama published his book ‘The End of History and the Last Man’. In it he made the claim that:

"What we may be witnessing is not just the end of the Cold War, or the passing of a particular period of post-war history, but the end of history as such... That is, the end point of mankind's ideological evolution and the universalisation of Western liberal democracy as the final form of human government."

It always seemed to me a bit of a daft and complacent claim to make, but no different in essence to claims such as Jesus being the only son of god: it is religion rather than thought. But it fitted in well with American neo-conservative thinking. 11 years later Iraq was invaded on the grounds of bringing democracy to the Middle East (as well as on the grounds of WMD, Oil, the war on fundamentalist Islam etc).

It could be said that the invasion of Iraq will come to be seen as a high point in Democracy as an ideology, as an absolute truth to which other countries need to be converted. The attempt to convert Iraq to Democracy has failed, and all the US can hope for is an eventual and not-too-dishonourable withdrawal.

Democracy remains a potent idea, but like all such ideas it has a beginning, a middle and an end. It is also a form of government, and with Pluto entering the sign of government – Capricorn – it is timely that the idea of democracy has been coming under question.

Kuwait, for example, is a democracy with no shortage of oil reserves. Yet the country has been overshadowed economically by its dynamic neighbours — Dubai, Abu Dhabi and Qatar — whose economies are booming under absolute monarchies.

According to the New York Times : ‘All this has left many Kuwaitis deeply disenchanted with their 50-member elected legislature. The collapse of the Bush administration’s efforts to promote democracy in the region and the continuing chaos in Iraq, just to the north — once heralded as the birthplace of a new democratic model — have also contributed to a popular suspicion that democracy itself is one Western import that has not lived up to its advertising.’

The neo-conservative Robert Kagan, in his new book "The Return of History and the End of Dreams", admits that history has not turned out like Fukayama said it would. His attitude seems to be exhortatory, a call to further battle against non-democracies. When I read some of his points, which I think in many ways are sound, I drew a different overall conclusion: that the idea of democracy as a universal good, to which the whole world needs eventually to be converted, is now on the wane, a turning point has been reached. Modern democracy is, of course, a western idea. In the Middle East for example, democracy as a universal good never was and probably never will be a potent idea.

According to BBC news, Kagan dismisses Fukayama’s satisfied pronouncement: "History has returned and the peoples of the liberal world need to choose to shape it or let others shape it for them. The world was not witnessing a transformation [as the Cold War ended], however, merely a pause in the endless competition of nations and peoples. Nationalism, far from being weakened by globalisation has now returned with a vengeance."

In particular he identifies autocracy as the new menace and singles out Russia and China. "The autocracies of Russia and China have figured out how to permit open economic activity while suppressing political activity. They have seen that people making money will keep their noses out of politics, especially if they know their noses will be cut off." He portrays the modern world as one of "global competition".

"It may not come to war," he remarks alarmingly, "but the global competition between liberal and autocratic governments will likely intensify in coming years."

What I found very interesting was this idea that “The autocracies of Russia and China have figured out how to permit open economic activity while suppressing political activity.”

The US has the idea that a thriving economy and democracy go hand in hand. In fact, much of the western world has this idea, because since the end of WWII all the richest countries have been democracies. The fact that the USSR went bust and collapsed just seemed to prove the point. (Via Marx, the USSR also had its own erroneous ideology around communism being the end of history).

Now, however, China is booming despite being a dictatorship. Kagan thinks ideologically, so he thinks his truth must be fought for all the harder. If you are not religious about it, however, you can see one of the main props underlying the idea of democracy collapsing. It is no longer the only route to a thriving modern economy.

This is a very significant shift. China’s rise, whether we know it or not, is changing the way the West thinks about its own system. With the demise of Christianity, Democracy has become one of our central, albeit secular, truths. It is not yet time to proclaim ‘Democracy is Dead’, but it is certainly undergoing a tectonic shift.

The US was the world’s first full democracy, in the sense that it did not, unlike the UK, have a monarch. (Though it was still some time before all adults had the vote.) I think that US history, and its idea of democracy, can be looked at in terms of the Pluto/Galactic Centre Cycle.

The Galactic Centre is the point at which our Galaxy revolves around itself, and there is thought to be a black hole there, or perhaps a double one. The GC moves slowly, taking approx 25,000 years to do a full cycle of the Zodiac. It is therefore associated with the biggest shifts in human consciousness. As is Pluto, with its mere 250 year cycle. As Pluto makes one of its rare passes over the GC – which it did in 2006/7 – it picks up new themes for humanity, and lets go of old ones.

Pluto last passed over the GC in 1760, just as revolutionary activity was beginning in the American colonies, activity that would eventually lead to American Independence and its new system of government (which the founders did not call democracy, but whose commitment to the principle of natural freedom and equality is seen as amounting to the same thing.)

Now, 250 years later, Democracy has had an astoundingly successful run, but seems to be reaching certain natural limits which did not seem to be there previously. The sign of Sagittarius under which this cycle has taken place indicates that it is religious truth, rather then e.g. scientific truth with which we are dealing.

This cycle also corresponds to the relentless expansion (Sagittarius) of American wealth and power (Pluto) that we have seen over the last 250 years. (See my post The Galactic Centre and American Power.) And again, limitations are now being encountered both economically and militarily. The US has lost ground relative to the rest of the world in recent years, for the first time ever, and there is no reason to suppose they will regain it. These reversals also correspond to the US Progressed Saturn and Mars both going Retrograde for the first time ever in recent years. Prog Mars went Retrograde during the Iraq War, which suggests this war will come to be seen as the point at which America went into slow reverse as a military power.

With Pluto having passed over the GC and brought the beginning of the end of Democracy conceived as a universal ideology, it is very timely that it is now entering Capricorn, which is a very practical sign. The next 16 years will see an emphasis on government that works and that, in foreign relations, advances the interests of the country. By the same token, Capricorn is about strong boundaries, and so we are likely to see a resurgence of nationalism, as Kagan also said.

To conclude, here are a few quotes about democracy:

Winston Churchill: Democracy is the worst form of government, except all the others that have been tried.

George Orwell: In the case of a word like DEMOCRACY, not only is there no agreed definition, but the attempt to make one is resisted from all sides. It is almost universally felt that when we call a country democratic we are praising it: consequently the defenders of every kind of régime claim that it is a democracy, and fear that they might have to stop using the word if it were tied down to any one meaning. Words of this kind are often used in a consciously dishonest way. That is, the person who uses them has his own private definition, but allows his hearer to think he means something quite different.

Alex Carey: The twentieth century has been characterized by three developments of great political importance: the growth of democracy, the growth of corporate power, and the growth of corporate propaganda as a means of protecting corporate power against democracy.