Through snippets of personal interviews and commentary on historical events in run-up to 2008 economic recession, Director Michael Moore‘s Capitalism: A Love Story portrays some of the dark sides of capitalism in US. The movie throughout has flavor of humor and sarcasm.
The movie starts with the footage of an armed robbery in which one of the robbers is in clutch. Next, there are few shots from a film named ‘Life in Ancient Rome,’ as Moore shows some more recent symbols of American power, including Metropolitan Opera House at Lincoln Center wrapped with its usual stardom.
While depicting ancient Rome, the story more realistically starts with post World War II, which is the time period from which the movie will examine issues of capitalism categorically. Reminiscing 1989 when autoworkers in Flint, Michigan were protesting against layoffs, the movie moves forward 20 years. Moore visits the nation’s capital, asking average American people how they are doing keeping economic needs and aspirations in mind. The movie continues with another hour and a half of sobbing and smirking remarks by cross section of audience that includes actor and writer Wallace Shawn who defines free enterprise.
Mr. Moore presents himself as ‘Everyman,’ whose relatives benefited from the postwar middle-class prosperity. However, there was a difficult phase during the time of Vietnam War. This followed with snippet of grim-faced Jimmy Carter warning about threat from idolizing self indulgence and consumption. The movie then portrays Ronald Reagan’s rule when corporate gained more power and unions debilitated. Moore calls tax cuts and household debt as ‘spokesmodel for president’. Cut in tax rates led to rise in household debt. Shots from 'Roger & Me,’ Moore’s first film is also included.
The movie has many instances of people interviewed being manipulated by their employers. One instance is of an employee whose wife was insured without his knowledge and employer made a big sum after the death of woman, a practice called as death peasant insurance. Incorporated in the movie is ‘casino mentality’ of Wall Street and influence of Goldman Sachs in Washington.
The movie examines why young people are attracted towards finance than science. Fat salaries that executives in financial houses like Goldman Sachs and PwC earn allures many to join. In his course of query, Moore visits offices of big financial corporate houses trying to learn about ‘derivatives,’and ‘credit default swaps’ from financial executives. Interestingly, a past Vice President of Lehman Brothers, Marcus Haupt, could not explain meaning of such terms convincingly to Moore.
In the run-up to the crisis are also explored the role of Alan Greenspan and the US Treasury Department. Ohio Senate member Marcy Kaptur agrees with Moore that bailout package by the Obama administration is illegal.
The movie ‘Capitalism: A Love Story’ is a tragedy masked in comedy. The movie is not about capitalism theories put forward by economists like Adam Smith or Karl Marx. The movie, however, has little to offer remedy against negative outcomes of capitalism except calling for replacing the capitalism (money) with democracy (people). There is a religious component too when Moore asks if capitalism is a sin and if Jesus would choose to be a capitalist.
