Since the planet earth’s existence, there have been heated debates about the unjust distribution of wealth. The poor become poorer, and the rich continue to amass great wealth. For the most part, the system – that has been in place for centuries – is to be blamed. To begin with, it was Karl Marx (1818 to 1883) who attacked the wealthy rich of society, blaming them that they exploit the rights of the common people.
While addressing this unjust distribution of wealth, Karl Marx coined the term capitalism. According to him, capitalism is a faulty system where rich people gather more wealth from the blood and sweat of common people. The workers who make money for the rich capitalists – continue to become poorer every passing day. Looking at the factual and ruthless remarks of Karl Marx, one can tell that the 19th century was equally disturbed by the ‘unfair distribution of wealth’ as the current 21st century.
Since then, numberless scholars and statesmen have spoken up about the capitalist system. The recent most among them is Kimberly Kay Hoang. In her book titled “Spiderweb Capitalism: How Global Elites Exploit Frontier,” Kim thoroughly covers the unfair capitalist system. She highlights crucial issues like the exploitation of workers’ rights and explains how rich people can go to every extent to double up and protect their money.
Nevertheless, the most important part of her book is the coinage of the new term: Spider Web Capitalism. Since its coinage, the term has gained wide popularity among all walks of life.
In this short blog, we have gathered the insights of the writer Kim Hoang and tried to explain her coined term in simple words.
What Does Spider Web Capitalism Mean?
By Spider Web Capitalism, Kimberly means the unseen and hidden traps that rich people wave to double their wealth. Evidently, these traps exploit the basic human rights of the commoners (i.e., the workers) but protect the money of the rich. However, what worsens the matter is that most of these workers are unaware of the trap that they are in. Thus, they remain in this trap – AKA Spider Web Capitalism – and do not find their way out.
In the words of Kimberly, these webs are controlled by “big spiders,” AKA the elite capitalists. Through this untrackable web, they make money with the help of “agents” working for them. Thus, these big spiders are untrackable and they continue to amass great wealth through unfair means. This could be either through the exploitation of the rights of the workers or through corrupted means.
Ironically, the “agents” who work for these elite capitalists do not know the trap they are in. Thus, they continue to work for these elites without knowing they are part of a fraudulent system.