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Here is a challenge everyone think about how we can do better than capitalism and create a better future. ..................................................................................................


When Workers Own Companies, The Economy Is More Resilient ... TedTalk by Niki Okuk
[ted.com] ..................................................................................................
What are your insights about why capitalism does not work yours or your family's futures?

By AnonySchmoose8
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Capitalism is an economic system that has as it's goal the concentration of every product and service under the umbrella of a single company or corporation.
Capitalism says that if a particular company is more efficient than it's competitors it will capture the market. And if the company captures the market then it can charge any price for its product(s) or services which will produce the maximum profit.
What this means for the consumer is that as the market shrinks and competition is eliminated the cost of goods and services increases. And if there is a single source of purchase for a needed product or service those with lower incomes may not be able to afford the product or service. Insulin is an example today.
Another goal of capitalism, that complements the first goal, is profit. The capitalist seeks to maximize as much profit as is possible.
With the duel objectives of monopoly and profit as the only goals there is no consideration of the social impact nor for empathy for individuals by the company or the managers or stockholders.

So should capitalism be unrestrained in the market the effect on the futures of individuals and families would depend on their ability to pay for needed goods and services at the price set by the wining companies or company. Again insulin is an example of market control and the effect on profit at the expense of the individual or / and groups of individuals. If the individual cannot afford the insulin the company takes no responsibility in the individual's death for lack of their product.

ArthurK Level 6 Sep 14, 2019
3

GM is closing one of its largest North American plants in Oshawa Ontario where the McLaughlin Buick was first made by a Canadian. When the news was announced I was asked to write a piece about it in the paper and focused on the workers taking it over as a worker-community co-op to manufacture EVs and other carbonless vehicles.

ToolGuy Level 8 Sep 12, 2019
1

I just retired from an ESOP company. That is definitely the right way to go. I like ownership to stay in the hands of the people not the government. We need to take the good points of capitalism and mix with good parts of socialism. That is what the Democratic Socialists want. Very different than straight Marxist Socialism/Communism

Canndue Level 4 Sep 12, 2019
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Robecology Level 8 Sep 12, 2019
6

Obviously stagnant wages, skyrocketing costs on all goods and commodities (food). Insane health and educational costs..the concentration of wealth to the the 1%..

Charlene Level 9 Sep 12, 2019

Thanks, and I agree ... the most prevalent societal ills that result from overpowering capitalism. I would add that racism and misogyny go along with the other ills imposed upon us.

@AnonySchmoose there are just so many blatant examples of runaway vulture capitalism that I could have kept going..

@Charlene I could keep on going too, but that gets depressing quickly.

@Charlene Yes, totally agree with you. Vulture capitalism and greed are destroying this Country. We must be more cognizant of the people we are voting to represent us.

@Redheadedgammy Which reminds me... We don't hear much about Obama anymore down here in NZ at the bottom of the Pacific -- just vague nostalgia about him being sadly missed (obviously in light of what's followed him -- apparently a choice between Trump and Biden), the good Dem/Independent candidates supposedly disqualifying themselves for being "unelectable" in the minds of the gutless. Last real news we had was as Obama was leaving office he was talking about buddying up with his Hawaii-good-times golfing buddy John Key (the ultra-capitalist former prime minister of New Zealand) for some heady vulture capitalism, only it was called venture capitalism to make it sound wholesome.

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