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American Capitalism Isn’t Working.

ipsofacto

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Not so long ago, corporate leaders understood they had a stake in the country’s prosperity.

She has proposed a bill in the Senate — and Ben Ray Luján, a top House Democrat, will soon offer it there — that would require corporate boards to take into account the interests of customers, employees and communities. To make sure that happens, 40 percent of a company’s board seats would be elected by employees. Germany uses a version of this “shared-governance” model, mostly successfully.

https://www.nytimes.com/2018/12/02/opinion/elizabeth-warren-2020-accountable-capitalism.html
 

TheRepublican

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Capitalism has became a problem for some classes but, why would you want to do a share economy or whatever. You know it’s funny how the democrats are against capitalism why?
 

ipsofacto

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Capitalism has became a problem for some classes but, why would you want to do a share economy or whatever. You know it’s funny how the democrats are against capitalism why?


What democrat is against capitalism? I certainly am not "against capitalism."
 

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You think we should legislate prosperity?
 

ipsofacto

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You think we should legislate prosperity?

Yes, if that is the only way you have of responding to this issue. We legislate morality.
 

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Yes, if that is the only way you have of responding to this issue. We legislate morality.

Which I do not approve of either.....but the question remains....should the Government legislate prosperity?
 

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Deuce

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ipsofacto

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Which I do not approve of either.....but the question remains....should the Government legislate prosperity?


Okay, this article has nothing to do with "legislating prosperity."
 

What if...?

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Capitalism has became a problem for some classes but, why would you want to do a share economy or whatever. You know it’s funny how the democrats are against capitalism why?

Its a problem for the voter class and a bonanza for the donor class.
 

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Deuce

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I prefer opportunity....what people chose to do with is up to them.

Easy to say when you’re on the uphill side, I guess.
 

ipsofacto

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Easy to say when you’re on the uphill side, I guess.


The CEO of Exxon and I are both able to call our Senator and ask for favors. Of course, I'll get disconnected and he'll get invited over for lunch.
 

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Okay, this article has nothing to do with "legislating prosperity."

When the Government dictates how a private company operates its boards under the premise of public enhancement, I believe it does.
 

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TheRepublican

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Its a problem for the voter class and a bonanza for the donor class.

Ok can you please give me a example of how? See, you mention the voter class and, I’m one of those and, I’m not struggling or whatever so be specific
 

ipsofacto

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When the Government dictates how a private company operates its boards under the premise of public enhancement, I believe it does.


We do now.
 

OldFatGuy

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Okay, this article has nothing to do with "legislating prosperity."

It most certainly does bring to the forefront the legislation of prosperity. Whether you like it or not, this is the difference between today progressivism and every other form of liberalism. Liberalism demands the same equal rights for everyone. Progressivism demands the same outcome for all. This is not how life works. We hope we get out what we put in. There are no rights beyond existence unless we a group collectively decide those rights exist. What you are trying to express, like this proposed bill is a form of communism, collective guarantees of outcome, progressivism no matter what words you use to couch the underlying concepts. No method of economics has accomplished as much for so many. Not only does American capitalism work, it surpassed all other systems of economics for creating wealth and a massive distribution thereof. Yes there are those who do not benefit as much as others, and there are some who are more equal than others, with inherent advantages created by their specific forebears. However, that becomes for those without them, just another fence to hurdle in the competition of life. You fail, it is on you, not the system.
 

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I'll let you know when I get there.

Even weirder to have someone with the deck stacked against them arguing for it to stay that way :lamo
 

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Not so long ago, corporate leaders understood they had a stake in the country’s prosperity.

She has proposed a bill in the Senate — and Ben Ray Luján, a top House Democrat, will soon offer it there — that would require corporate boards to take into account the interests of customers, employees and communities. To make sure that happens, 40 percent of a company’s board seats would be elected by employees. Germany uses a version of this “shared-governance” model, mostly successfully.

https://www.nytimes.com/2018/12/02/opinion/elizabeth-warren-2020-accountable-capitalism.html

Why should somebody have a say in the way a company is run if they have not invested anything in that company?

Are you willing to do this with other areas of life?

Shouldn't the public have a say in how you run your house? After all, what you do in your house affect everybody around you.

Would you go for that?
 

ipsofacto

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It most certainly does bring to the forefront the legislation of prosperity. Whether you like it or not, this is the difference between today progressivism and every other form of liberalism. Liberalism demands the same equal rights for everyone.
Progressivism demands the same outcome for all.
This is not how life works. We hope we get out what we put in. There are no rights beyond existence unless we a group collectively decide those rights exist. What you are trying to express, like this proposed bill is a form of communism, collective guarantees of outcome, progressivism no matter what words you use to couch the underlying concepts. No method of economics has accomplished as much for so many. Not only does American capitalism work, it surpassed all other systems of economics for creating wealth and a massive distribution thereof. Yes there are those who do not benefit as much as others, and there are some who are more equal than others, with inherent advantages created by their specific forebears. However, that becomes for those without them, just another fence to hurdle in the competition of life. You fail, it is on you, not the system.

That is not most people's concept of progressivism.
 

Visbek

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Capitalism has became a problem for some classes but, why would you want to do a share economy or whatever. You know it’s funny how the democrats are against capitalism why?
Maybe you should try reading the article... Or at least the blurb.

One of the biggest issues we're now facing is economic and income inequality. Long story short, executives in the US do not give a crap about rank and file employees, and boost their own pay while putting the screws to everyone else. It wasn't always that way, it doesn't have to be this way. And if corporations do improve pay for the rank and file, then those employees won't feel like they are living one step away from economic disaster, and aside from just feeling more stable, will be in a better position to buy goods and services.

The suggestion in question is that employees select 40% of the Board of Directors. This reduces the chance that the Board will just rubber-stamp management, and will actually perform some real oversight, as well as hopefully curbing executive pay, and treating employees better. Again, Germany does this, and it hasn't destroyed their economy -- it seems to be working quite well.

This is not being "against capitalism." It's a recognition that once the norms of broad social responsibility are eroded, capitalism will not correct itself on its own. It is adjusting capitalism to make it more equitable, preferably in ways that maximize social benefits while minimizing any impacts on efficiency.
 
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