Friday, December 8, 2017

America today resembles the conditions of the late 1800's called the Gilded Age of rampant, unregulated capitalism(s).


Capitalism has been criticized for establishing power in the hands of a minority capitalist class that exists through the exploitation of a working class majority; for prioritizing profit over social good, natural resources and the environment; and for being an engine of inequality and economic instabilities.


Free markets commonly associated with capitalism within a market economy in contemporary usage and popular culture, free markets have also been advocated by free-market anarchistsmarket socialists, and some proponents of cooperatives and advocates of profit sharing.[2] Criticism of the theoretical concept consider systems with significant market powerinequality of bargaining power, or information asymmetry to be less than free, with regulation being necessary to control those imbalances in order to allow markets to function more efficiently as well as produce more desirable social outcomes.


The results of this experiment are now conclusive: 
"trickle-down" has failed, miserably, totally, completely.
So why should 2017's tax reform legislation indoctrinate any differences? 
It turned out (duh!) that corporations didn't use the central bank's free money for financiers to increase wages; they used it to fund stock buy-backs that enriched corporate managers and major shareholders.
The central bank's primary assumption was that inflating asset bubbles in stocks, bonds and housing would "lift all boats"--but this assumption was faulty in which fundamentally only benefited further accumulations of the financial wealth of nation held by the top 5%. 
Faced with an even graver Depression era situation,President Franklin Roosevelt worked with Congress to give the federal government the tools needed that would revitalize America not only back to work, but made businesses act responsibly.


Without clear government ground rules, capitalism becomes anarchy and cronyism. Every segment of industry, as well as consumers, becomes so short-sighted and greedy that they don’t see the possible train wreck coming around the corner. That’s what happened to the financial services and housing industry — the builders, banks, mortgage companies, brokers, investors, credit-rating agencies, and others - when they got the deregulation that they fought so hard for.

The choice above is not between “socialism” and “capitalism.” 
It is between what form of capitalism makes the most sense for a healthy society through the eliminations of elected officials who preponderance "elitist's" america principled in 'Avarice' shall supersede John Q. Public's American right to live out their lives free from those unsound deteriorating social conditions that validate patriotic doubts in concern whether current American children or future children's children can,could,or will be able to live out their lives any better off than they were? 






2 comments:

  1. This comment has been removed by the author.

    ReplyDelete
  2. Without clear government ground rules, trickle down capitalism becomes anarchy and cronyism.

    ReplyDelete