Posted on 10/01/2021 3:17:36 AM PDT by MtnClimber
Don't blame capitalism for the USA's problems. We don't really have a capitalist system.
A recent Fox News poll reported that 59% of Democrats have a favorable view of socialism compared with 49% who have a favorable view of capitalism. A few weeks ago, Nancy Pelosi, while speaking at an event in London, commented that capitalism has not served our country as well as it should.
Why all the ill will for capitalism? Conventional wisdom seems to be that the widening gap between the haves and have-nots is driving the shift away from capitalism and toward socialism. The gap is wide and getting wider, but the problem is not with capitalism itself; it is that we no longer have a capitalist economy. We have faux capitalism or a watered down version.
Capitalism is typically defined by the following characteristics.
-Private ownership of the means of production -Profit motive -Minimal government intervention -Competition -Two classes (owners and worker)
Free markets where prices are set by supply and demand, rather than monopolies where prices are set by the seller But how many of these key characteristics are alive and well within our economic system?
Private owners continue to control the means of production within our economy for the most part. There are exceptions, however, where government has an ownership or a quasi-ownership interest, including Amtrak, USPS, and Fannie Mae/Freddie Mac — hardly shining examples that you would want to imitate in the private sector.
Most businesses are still driven by the profit motive, but in the past two years, there has been a push to replace the importance of profits with other objectives. In August 2019, the Business Roundtable, a group of CEOs from the country's largest businesses,
(Excerpt) Read more at americanthinker.com ...
The ESG system will be the nail in the coffin for the free enterprise system.
Environmental, Social, and Governance
“Government shuts down economy and forces businesses to close. Millions lose employment.”
“Government relief to pay millions forced out of work by government mandates.”
“Government mandates and regulations force businesses to close and fire recalcitrant anti-vaxxers.”
“Capitalism has failed. Nation demands government action to fix the system.”
-CNNYTPBEABCNBCLSDWFT
The US no longer enjoys Capitalism. We have Crony Capitalism, a feature of Banana Republics and other authoritarian states.
The reason socialists hate free enterprise is that real work is a component. They despise work, discipline, deferred gratification, etc.
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