How can Capitalism be fixed here in America?
Some people feel capitalism is the root cause of many of America's troubles. If this is true how can we fix it for the better, while still maintaining a free trade market base?
Capitalism is not the problem; its distortions definitely are. The US brand of "shareholder capitalism" has acquired too narrow focus - maximizing the bottom line of the firm for its investors only. The model has virtually cut off all other stakeholders - employees, suppliers, society, even customers at times. Of course, exploitation of natural resources and disregard of environment are merely taken for granted or at best, paid lip-service to. It has only widened the rich-poor gap. Disproportionate influence of ultra rich in government decisions and political processes undermines fairness of democratic model of governance. It is all too glaring in the US.
The current form of capitalism as practiced in the US and UK now appear stuck for ideas to move forward. For over a century the industrial revolution has done all it could for making life better, now there is a need to have a more sustainable economic model that is more humane and less exploitative. It is simply illogical to think that the concept of "produce more goods and consume more goods" can go on forever. It has messed up global environment and created an atmosphere of mutual exploitation worldwide.
The whole concept of "development" needs fresh thinking. Why should development only mean "industrial development?" What about "people development?" In fact, with so much technology around, people should be working less and leading happier and healthier life than ever before. But that's still a mirage -- look at the ever growing pharma industry and the stress level of working people around the world.
Perhaps it is time to redesign economic model where businesses of all sorts have social responsibility and respect for ecology and environment.
To which country in the two American continents are you referring, or is it one of the countries in the central bit, or one of the off shore islands? There's a lot of countries in the two continents, even the USA, if I remember rightly is just a federation of many countries.
The only way the economic system in the US and for the rest of the world to improve is for the current system to collapse to the ground and then be rebuilt under the correct influence of capitalism allowing it to flourish and the markets to boom.
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