Mac1958
Diamond Member
I've said here many times that the biggest mistake the Right makes is to think that proper, efficient regulation is a negative for capitalism. The fact is, it's an absolutely critical component of capitalism. The 2008 Meltdown should have taught us that.Back in the 1970s I read a magazine article which opined that the Harvard Sschool of Bbusiness with their bottom line focus, would one destroy the American economy someday. The focus of profits as the be-all and end-all of corporate existence, with no focus on employees or being a good corporate citizen, was destructive in nature.
At the time I read this article, I had just applied to the MBA program at Western University, which is modelled on Harvard’s program so I thought this man crazy.
That piece of stayed with me all these years. It niggled at the back of my mind, and now I see how right he truly was.
Of course, the Supreme Court had a large hand in all of this by siding with the rights of the “owners” (shareholders), over all other interests in lawsuits, which went to the SC.
While this may be the case in small closely held private corporations, the shareholderholders of large multinational Dow Jones 500 stocks, can hardly be called “owners“. They merely park an investment in a secure spot and live off corporate profits paid as dividends.
They are, in essence, living off the work of others, and those others haven’t had a raise in 40 years. Those with capital should be spending their capital and those who are working should be getting fair wages.
I spent 23+ years in the business before I sold and retired. I think everyone knows that corporations are short-sighted, worried only about the next quarter's financial reports. But even the capitalist in me can see that looking longer term is far better for the company and the economy in general.
We have misapplied capitalism by adopting a growth-at-all-costs mindset. And yet, millions who vote for it have been left behind by it. That's a fuckin' tragedy. And now, the GQP is doubling down on it.