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Feb 9th 2019 – Forbes plus added commentary.
“Capitalism has generated massive wealth for some, but it’s devastated the planet and has failed to improve human well-being at scale.”
“We are killing the earth as we know it, and there is no “planet B”. Our children and our grandchildren will inherit a living hell. ”
“We need to build a new system: one that will balance economic growth with sustainability and human flourishing.
A new generation of companies are showing the way forward. They’re infusing capitalism with fresh ideas, specifically in regards to employee ownership and agile management.”
Many for profit corporations lobby, influence and in some cases bribe politicians, regulators and other public officials to put their special interests above proven national standards, public safety, the law, proper justice, judiciary independence, democracy, the environment and other public interests.
Some corporations including most involved with photo traffic enforcement, predictive policing, some auto insurance and related can be labeled as part of Vulture Capitalism.
Many are seen as preying on the public and customers for profits at any cost. Fraud, bribery, breach of trust, colluding and other crimes have been investigated, prosecuted and convictions of up to 10 years in prison. Fines totalling hundreds of millions of dollars yet profits along with municipal and government share of fines, ” victim” surcharges, license and insurance increases totalling in the tens of Billions or more.
Sadly there is many other examples in other industries.
Some of the comments with the most interaction from post sharing this story:
Way past time for A #GreenNewDeal. #SaveThePlanet.
Capitalism pretends to be free enterprise, but it actually destroys free enterprises as it seeks control over ALL the governments of the world. Many politically powerful corporations need more wars to fight to increase their profits, other corporations need more prisoners in prison and to keep them there longer to increase THEIR profits.
The greed that has been generated by the “free-market” economic policies that have favored the corporations with subsidies, tax cuts etc has blinded them to the ultimate results of these actions. Laws protecting individuals have not caught up – giving corporations advantages that should have been curbed. Instead, the race for higher and higher profits have created a huge imbalance.
When the founding fathers established policy for non-interference, the purpose was to enable, not just corporations to pursue profit, but individuals to receive equitable and reasonable treatment in the process, and also have the opportunity for pursuing their dreams. We now have a system that favors corporations over the individual. President Herbert Hoover was the most infamous proponent of laissez-faire policies. He believed an economy based on capitalism would self-correct. He worried that economic assistance would make people stop working. His commitment to a balanced budget in the face of the 1929 stock market crash turned the recession into the Great Depression. Even when Congress pressured Hoover to take action, he focused on stabilizing businesses. He believed their prosperity would trickle down (didn’t we just hear about this trickle down)to the average worker. Despite his desire for a balanced budget, Hoover’s laissez-faire approach to the Depression added $6 billion to the debt. Market theory ignores the emotional aspects – we witnessed the greed, that caused the lack of attention to dangerous warning signs. The result was the 2007 financial crisis. Ignoring the capricious greed of corporations today will only result in devastation to this world we inhabit. What is being passed off as capitalism in today’s economy is a farce. Just as Hoover thought economic assistance would cause people to stop working. The constant reference to socialism is another “scare tactic” causing the populace to imagine a regime in which the “workers” provide for the indolent. We should listen to the lessons of the past.