Sorry, but it's not a 'law of capitalism' that you pay people as little as possible — it's an excuse

[lovemydog]

26. I favor nationalizing health care

nationalizing the big banks, nationalizing insurance, nationalizing the oil industry. I feel this way because all of those industries involve our resources and our futures.

I'm not against for-profit businesses. I do think these industries have demonstrated time and time again that they care more for huge profits than they do for much of the public's interest. I don't feel it should be a for-profit business. I also favor restrictions on profit margins for publicly owned companies. Caps for executive salaries, taxation on corporations and no loopholes.

As Thomas Piketty makes clear in his book Capital in the 21st Century, these restrictions on capital work most effectively when most countries put them in place. The USA lags behind most other industrialized countries in understanding and implementing policies that work for the large majority of workers. Just as trickle-down economics is a fraud and a cruel joke, we must break from those who preach the gospel of unfettered capitalism. Every country has a mixed economy. We should break away from socialism for wall street speculators and provide socialism for working men and women. Our resources, our labor, our interests.

In addition, we've got to place more restrictions on these corporations to prevent them from outsourcing jobs and going offshore. For the ones that have already done this, I wonder how we can make it more attractive for them to return to the US (not in terms of huge tax breaks, but in terms of appealing to them that it's good to do business ethically, and pay a fair wage for an honest hard work).

Thanks for the excellent article n2doc. Lot's of food for thought.