Tag: capitalism

The great insight from the last century or so: imperial powers profit more from exploiting natural resources than bashing foreign heads.

For the past 40 years, the United States and other advanced economies have been pursuing a free-market agenda of low taxes, deregulation, and cuts to social programs. There can no longer be any doubt that this approach has failed spectacularly.

After all, for thousands of years, the indigenous people of the land Detroit now sits on engaged in freely giving what was needed to others. The practice is ancient.

"We haven’t been challenged, to put it in a way. But we are being challenged now, because so many people have done so poorly."

JPMorgan Chase CEO Jamie Dimon's real concern is that America may end the kind of socialism he and other denizens of the Street depend on – bailouts, regulatory loopholes, and tax breaks.

Meanwhile, most Americans are subject to an increasingly harsh and arbitrary capitalism.

Answer: Corporate greed coupled with inept and corrupt regulators.

These captains of American capitalism are brazenly ignoring their responsibility to their own nation, a nation in desperate need of funding for education and infrastructure and job training.

After all, while the brief bio at the end of his column doesn’t mention it, the newspaper he writes for is owned by Bezos, Amazon’s founder, CEO and the world’s richest man.

In the most extreme form of capitalism taxes do not exist. This is called "anarcho-capitalism." Among all corporations, Amazon may be the leading advocate of this philosophy.