With the global economy sputtering, and government unable to successfully address big issues like income inequality, unemployment and growing debt, it's a subject that's front and center not only the US, but also Europe and Asia.
The article points out that a important way of fixing capitalism will be reconciling the large and growing imbalances between the public and private sectors. The rise of big stateless corporations, which now rival many countries in terms of economic and political clout, poses special new challenges to governments. The author also worried about the fact that we have also lost the sight of the philosophical ideas that historically gave national governments their authority. Market neither have a conscience nor do they ensure opportunity. Rather, they seek efficiency, and efficiency loves scale, and enterprises that grow to scale become elephants stamping out opportunities around them.
1 comment:
I think one of the major problems is that corporations have enormous lobbying power, they control the media, and are able to support political campaign anonymously through super PACs. It is realistic to assume that corporations interest are aligned with the peoples, when time and time again corporations have exploited society for profit. Whether it be finding tax loopholes, polluting the environment or crossing country boarders to exploit a labor force. Corporatism is not capitalism.
The US government seems to grow every year as budgetary plans find it difficult to reduce spending when everyone is asking for more. I would like to see America restored to is original principles of free enterprise, individual liberty & responsibility, and a constitutionally-bound limited government, where government decisions are left to the domain of the 50 soverign states to act and manage locally, rather than centrally.
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