General Discussion
In reply to the discussion: We could Japan. [View all]Moostache
(11,128 posts)Since the banking sector nearly collapsed the world economy into oblivion and killed the careers and financial futures of MILLIONS of Americans (who NEVER recovered from THAT calamity before getting broadsided by COVID-19 and inept governance).
Capitalism only works while society holds the reins of regulation and taxation over the heads of the corporations. Once it is allowed off the chain to run amok, capitalism is a Darwinian morality play. Bribes, threats, collusion, monopolies, externalities, kick-backs...and that is before you even bother to get creative...they all are used to maximize the almighty profit and denigrate the inputs to the system (human labor, natural resources, community exploitation, etc.).
Capitalism without ardent, enforced state regulation to maintain a level field is hand-to-hand combat, except those with more to start off or faster acquisition strategies use their every advantage to rig the system and ensure there is no real competition, just an illusion of it and a game that the winner takes it all (regardless of fairness, equity or the status of the communities, cities, states or nations hosting these vampires. They suck everything dry, then move on.
Profiting off of human misery, sickness, frailty and disease is a hideous thing to do...yet TRILLIONS of dollars are associated with the practice in America, where the largest single chunk of the total economy is healthcare - and NOT improving or even matching service levels and successes in other nations.