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Feel free to reply to any comment by clicking the "Reply" button.Capitalism dynamic is market driven. In the 1970 Milton Friedman sold his theory that corporation primary responsibility is not to its workers, customers or suppliers, but rather to its shareholders. The emphasis on profit gave companies direction, and became many (not all) corporations sole compass/responsibility.
Recent law has given corporations many of the legal rights of persons (not all)
Elizabeth Warren has proposed in her "Accountable Capitalism Act" to give corporate-persons a socially responsibly statement as part of their mission statement, along with several other requirements such as the requirement for workers (elected by other workers) to sit on the board of directors for corporation with over 1 billion in assets.
I think the rehabilitation of Capitalism is necessary if we are to avert massive social inequalities going forward.
cava
Level 7
Feb 4, 2019
2
There's no drive by corporations to rehabilitate. And our politicians have no drive to force rehabilitation. Corporations want it all for themselves and their shareholders. Politicians are compliant for their power and their piece of the pie. How much worse does it need to get before we see this?
cava:
I am talking about a bill that actually was introduced into the Senate (last August) by one of its members who is now running for president. Corporations don't have to want to rehabilitate, all they have to do is follow the law. Senator Warren has clearly seen the "worse" and she wants us to fix it by fixing what it means to be a corporation in USA.
I like to think of post-capitalism. Unfortunately, it is likely to be ugly and perhaps even worse than what we have now.
Mitch07102
Level 8
Feb 4, 2019
1
Post capitalism? There has to be a sense of capitalism with socialism to balance the market. Create a value if I may. One that isn't designed on manipulation and casino like risks for the most wealthy to take from those that basically donate to the game. Ugly if allowed. Ugly for who? In a wonderful beautiful world we all unite for peace people and planet. But it would depend on the type and amount of politicians in power when the change begins.
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