J.R.’s Zaphne Blog News for 05-08-2018

The Good, the Bad and the Exaggerated in Michael Moore’s New Film, ‘Capitalism: A Love Story’

Michael Moore’s new movie, Capitalism: A Love Story, doesn’t pull any punches in its depiction of capitalism as the monster that is destroying America. Moore’s villains range from Wall Street bankers to Wal-Mart to Treasury Secretary Timothy Geithner, while capitalism’s victims include those who are losing their jobs, their houses and, in some cases, their faith in a system that is supposed to reward hard work and playing by the rules. So Michael Moore scores some points there, although he was very selective in the way he did it. I don’t believe in the level of redistribution that Michael Moore would believe in – unconditional, not based on effort. At the same time, Michael Moore’s conclusion isn’t that we need to have more regulatory reform, especially to protect consumers, which is something I think we are in great need of – or that we simply need some more redistribution, which I also agree with if done smartly. 

Michael Moore was right that the mortgage area needs serious regulatory reform in order to make mortgages very transparent. A lot of people wanted something more than they could afford. So we have a lot lower prices than we had. It’s a lot cheaper to fly and there is a lot more competition. The problem is we have a lot of people who really enjoy flying. 

We all value art, but [because] a lot of people want to be artists, they don’t get paid [much]. No occupation pays well when a lot of people enjoy doing it – unless we simply tell some people that they can’t do what they love. In the mortgage field, a lot of people weren’t making well-informed decisions. 

Keywords: [“Moore”,”people”,”lot”]
Source: http://knowledge.wharton.upenn.edu/article/the-good-the-bad-and-the…

Jeri Hogarth: Jessica Jones & Female Capitalist Success

I’ve loved Jessica Jones’ ruthless lawyer, Jeri Hogarth, since she debuted in the first season. I thought it was a brilliant switch to make the comics’ male Jeryn Hogarth into Jeri Hogarth, but still imbue her with all the callousness, drive, and selfish confidence that we associate with high-powered corporate lawyers. That’s because Jeri’s queerness is never the source of her evil; wealth is. Jeri is a powerful, driven career woman, but the things that make her so powerful-buying into the corporate game, shameless self-interest, and a confidence that being smart and rich gives you the right to control other people-are also the things that so often make her evil. As the second season opens, we find Jeri doing much of the same. 

Jeri is rude to the sex workers she hires; she ogles her yoga instructor. Jeri is, as she’s always been, a woman who likes a little indebtedness in her romantic partners, her associates, and her friends. Her growth here was getting back to being Jeri even in the face of something she couldn’t control-something that, in its power over her and in the way it leads to her humiliation, could have made her not feel like Jeri anymore. In all her many facets, Jeri captures my incredibly complicated feelings about women like this. With Jeri Hogarth, Netflix is exploring those contradictions of female corporate power. 

We see Jeri’s admirable tenacity, intelligence, and confidence in a world that tells her to shrink herself. Jeri is a powerful, successful queer woman in a world that makes it really, really hard to be such a thing and still be decent. 

Keywords: [“Jeri”,”power”,”she's”]
Source: https://www.themarysue.com/jeri-hogarth-jessica-jones-season-2

Why Intellectuals Hate Capitalism

Mackey, 62, continues to set the pace for what’s expected in organic and sustainably harvested food. Because of Whole Foods’ educated customer base and because Mackey is himself a vegan and a champion of collaboration between management and workers, it’s easy to mistake him for a progressive left-winger. A high-profile critic of the minimum wage, Obamacare, and the regulatory state, Mackey believes that free markets are the best way not only to raise living standards but to create meaning for individuals, communities, and society. Conscious Capitalism, the 2013 book he co-authored with Rajendra Sisodia, lays out a detailed vision for a post-industrial capitalism that addresses spiritual desire as much as physical need. Reason: You believe capitalism is not only the greatest wealth creator but helps poor people get rich. 

John Mackey: Intellectuals have always disdained commerce. You might say that capitalism was the first time that businesspeople caught a break. Mackey: It’s sort of where people stand in the social hierarchy. Mackey: I don’t know if it’s a psychological switch so much as that they weren’t necessarily grounded in the philosophy of capitalism. They’re attempting to not fall, so they try to rig the game, and we have crony capitalism. 

Mackey: The impetus behind so many of these types of regulations in the workplace is, in a sense, to shackle business again-to get it back under the control of the intellectuals. It’ll stifle the dynamic creative destruction of capitalism. 

Keywords: [“Mackey”,”capitalism”,”business”]
Source: https://reason.com/archives/2015/10/27/why-intellectuals-hate-capital

Antonio Gramsci

Brecht’s key debate was class equality, where the influence of Karl Marx, Louis Althusser and Antonio Gramsci’s theories were and still are evident in Brecht’s plays. The Threepenny Opera: The Ballad Opera and the Socio-political Criticism and Change Bertolt Brecht’s aggressive political idealism and determination in using art to pose challenging questions about the conflicts between society and morality generated intense controversy throughout his lifetime. Brecht offers alternatives in life rather than Gay’s mocking characters that just make the viewer laugh 19 PDF created with pdfFactory Pro trial version www. The problems stem from the fact that when Brecht wrote the play he was only beginning to explore Marxism and he did not yet identify with the class struggle. Brecht’s final goal is that he wants the audience to leave his play with a logical desire to change society. 

Brecht is trying to make people think about the play rather than feel emotions. Brecht’s use of songs does not represent any attempt aiming at intensifying or heightening the conflict of the play. The songs in Brecht’s plays deserve some discussion because they are as famous as the play itself. Brecht exposes his understanding of death penalty in the play. The story of the play is dramatized by Brecht from an old Chinese parable. 

Brecht’s attitude towards war is derived from Marxism. Brecht should have something rather than cause and effect to connect the separate parts of his play. 

Keywords: [“Brecht”,”play”,”war”]
Source: https://www.scribd.com/doc/82102711/Bertolt-Brecht

J.R.’s Zaphne Blog News for 05-07-2018

The Rise of Compassionate Management

Don’t look now, but all of a sudden the topic of compassionate management is becoming trendy. A growing number of business conferences are focusing in on the topic of compassion at work. At TED, Karen Armstrong’s talk about reviving the Golden Rule won the TED prize in 2009 and has given rise to a Charter for Compassion signed by nearly 100,000 people. While the importance of compassion at work has long been touted by scholars like Peter Senge, Fred Kofman, Jane Dutton and others as a foundational precept of good management, managers of the traditional, critical, efficiency-at-all-costs stripe have scoffed. Findings like this may be one reason for compassion’s rise in the workplace: perhaps years of research are finally making a dent. 

Over and over, it’s been shown that compassion concretely benefits the corporate bottom line. Plenty of others have shown that practicing compassion is good for your business. Consider what happened when a call-center company called Appletree consciously set about increasing compassion among employees. The Dream On program allowed employees to express compassion to each other on an everyday basis. The evidence also shows that compassion boosts employee well-being and health – another important contributor to the bottom line. 

The good news is that it’s possible to strengthen one’s compassion muscle – and so become a better manager. Researchers from the Center for Investigating Healthy Minds at the University of Wisconson-Madison’s Waisman Center found that engaging in compassion meditation – where you practice feeling compassion for different groups of people, including yourself – seemed to increase a sense of altruism. 

Keywords: [“compassion”,”company”,”work”]
Source: https://hbr.org/2013/09/the-rise-of-compassionate-management-finally

The Rise Of Disaster Capitalism

Whereas Cameron believed electroshocks could restore natural health, Friedman favored economic shock as extreme and destructive to nations as Cameron and CIA’s methods are to human minds. After one year of hardened shock therapy, Chile’s economy contracted 15%, unemployment rocketed to 20%, and contrary to Friedman’s rosy scenario it lasted for years with no social safety net help for desperate Chileans. Margaret Thatcher thought Chilean shock therapy wasn’t possible in a democracy like the UK because voters wouldn’t buy it. Four days into his term, he charged his emergency economic team to radically restructure the economy using shock therapy with a twist. President Paz had no mandate for shock therapy, and many workers were predictably furious at his betrayal. 

The siege lasted three months during the decisive shock therapy period with more repression and Chicago School medicine later. Indebted developing countries learned shock doctrine 101 the hard way. Enter Jeffrey Sach, the shock doc, with an even harsher plan than imposed on Bolivia. It’s pure myth, angry Poles know it, but reports in the West ignore them as they do shocked victims everywhere. Shock therapy rolled in China as in Chile – through the barrel of a gun and raw state terror. 

Later, the IMF, World Bank and other international lending agencies reinforced it – Soviet-era debts must be honored and aid depended on adopting strict shock therapy rules. Yeltsin now had unchecked dictatorial power, the West had its man in Moscow, and shock therapy had an open field to inflict wreckage on Russia’s people who didn’t know what him them as it unfolded. 

Keywords: [“Shock”,”economic”,”market”]
Source: http://rense.com/general78/lendd.htm

And Compassion for All

Jeremy jamrozy December 29, 2017.No I just smoke weed. Jeremy jamrozy December 29, 2017.I will go. Jeremy jamrozy December 29, 2017.Im so psyched you’ll go. Jeremy jamrozy January 2, 2018.I love all the support the love. Jeremy jamrozy January 3, 2018.Thank you to all the support financially, emotionally, and donations. 

Jeremy jamrozy January 7, 2018.God I feel so overwhelmed with joy tears in my eyes because I’m finally getting the help I need. Jeremy jamrozy December 29, 2017.It anymore people are going to write shit bout wut nice things happend wit auntie Sarah please note im not a trump supporter or a Democrat supporter I choose no sides. Jeremy jamrozy December 31, 2017.I know that a pay if foward campaign sounds a lil cheesy but Goddamn even the bloods and crips had a truce and peace and love for each other at some point. One of the people Silverman met along her journey was Father Greg Boyle, the executive director of Homeboy Industries, a gang prevention and rehabilitation program in Los Angeles. Thirty years later Boyle, known as Father G, is still helping gang members, and Homeboy Industries has grown into a multimillion-dollar nonprofit organization in Los Angeles that provides jobs, training and support for at-risk youth, former gang members and previously incarcerated men and women. 

Me wanting a gang member to have a different life would never be the same as that gang member wanting to have one. Compassion is a sign of strength and takes work, but the freedom from suffering compassion brings is worth the effort. 

Keywords: [“Jeremy”,”gang”,”Boyle”]
Source: https://www.truthdig.com/articles/and-compassion-for-all

John Mackey’s Message of Entrepreneurial EmpowermentThe American Spectator

Whole Foods Founder & CEO John Mackey is a man on many missions. He wants to champion capitalism in the public square. Mackey discussed the ideas behind his new book Conscious Capitalism: Liberating the Heroic Spirit of Business in a conversational interview with Tucker Carlson Monday evening at the Cato Institute. Although the book itself was hardly referenced, Mackey’s libertarian message of confident capitalism grounded in compassionate values was clear. According to Mr. 

Mackey, businesspeople exhibit great ignorance about the capitalistic system. His view is shared by Cato President John Allison and organizations such as the Bastiat Society, which was founded to educate businesspeople about the market process. Entrepreneurs’ reluctance to embrace market principles and espouse capitalism’s virtues places them in a disadvantageously defensive position in dealing with its many critics. Mackey’s vision is that businesspeople espouse the system by which they benefit society. We need to have two major conversations in the 21st century, Mackey said. 

The critics dominate the narrative, and the people who defend capitalism make a big mistake: they concede the moral high ground. People don’t support capitalism to the same extent they did because they equate capitalism with crony capitalism. Whether he will succeed is, of course, unknowable at this juncture, but as an autodidact possessed of great idealism and an entrepreneurial impulse for action, John Mackey offers a unique approach to an intractable problem: Helping the individual understand his or her precious liberty, that it may be held dear. 

Keywords: [“capitalism”,”Mackey”,”businesspeople”]
Source: https://spectator.org/31439_john-mackeys-message-entrepreneurial…

J.R.’s Zaphne Blog News for 03-31-2018

Compassionate Capitalist Coffee Break – Seed Stage Investors

Forget compassionate capitalism, just some fairness will do

Saving Capitalism by Robert Reich could have ended up being the usual rant against the excesses of capitalism and capitalists. His argument that large companies in collusion with regulators and government officials have exploited the free market system for massive personal gains comes with the force of his personal experience as secretary of labour in the Clinton administration, as well as reams of relevant data. Osvald Bjelland founded and runs Xynteo, an Oslo-based consulting firm that advises companies on how doing good for society can be good for their bottom lines as well. As a serial entrepreneur who sold an earlier start-up to Citibank, it does sound strange for him to be critical of the capitalist system. Finally, over the weekend, N.R. Narayana Murthy, co-founder of Infosys, one of India’s most influential entrepreneurs and a poster boy for how capitalism can spawn a thousand millionaires, led some of the company’s founders in abstaining from voting in favour of a board proposal to hike the salary of the company’s chief operating officer U.B. Pravin Rao by 35% to Rs12.5 crore. Reich is even more critical of the system that served the US and most of Western society for well over a century. Before the current round of hand-wringing against capitalism took wing, the system did deliver incredible growth to all those countries that adopted Adam Smith’s laissez faire doctrine. In a country like India where for centuries, two meals a day was the ambition of millions, today people demand a share of the wealth they are helping create for the companies they work in. The virtual defanging of unions, the unholy nexus between government and big business, and above all the limitless greed of a select few for more power, have all contributed to the prevailing angst about the existing rules of business. Now as more and more of those who may have been its biggest beneficiaries declare that it is broken, the need to fix it, is acquiring urgency. Perhaps it is too much to expect compassion from a system that is inherently Darwinian. We will settle for a fairer and more just arrangement.

Keywords: [“Capitalism”,”system”,”companies”]
Source: https://www.livemint.com/Opinion/K6RVjtcr1QX0DAQFvJZg6O/Forget-compassionate-capitalism-just-some-fairness-will-do.html

The Free-Market Fantasy

Instead of trying to get a handout from the government or make a quick buck on the stock market, Mackey says that companies need to roll up their sleeves and rethink how to run a business. Today, the dominant discourse governing discussion of markets, states, and companies is neoliberalism, and Mackey’s free-market business model and historical narrative fit neatly within this framework. As economic historian Karl Polanyi argued decades ago, capitalist markets are a product of state engineering, not nature. The history of industrial development in the United States, often considered the epicenter of free markets, demonstrates the political nature of markets. The history of market formation in the United States reveals an industrial structure supplied by goods and capital extracted from slave labor and facilitated through a state-sponsored, genocidal land grab. Far-reaching government legislation protected domestic markets and infant industries from external competition, and federal and state governments played a central role in the development of physical infrastructure and the creation of huge bodies of agricultural and industrial knowledge – all essential elements in the genesis of American industrial capitalism. At the same time, society’s greatest inventions and innovations of the past two hundred years – rockets to the moon, penicillin, computers, the Internet – were not bestowed upon us by lone entrepreneurs and firms operating in free markets under conditions of healthy competition. Companies produce influential innovations, but so do other institutions that operate outside the confines of the profit motive, competitive markets, and the bottom line. Designating the market as natural and the state as unnatural is a convenient fiction for those wedded to the status quo. The complexion of those markets depends on the balance of class forces at any given point in time. Free markets don’t exist and other institutions like states clearly matter. Free markets don’t exist, but maybe corporations are still the best, most sensible, way to heal the planet.

Keywords: [“Market”,”capitalism”,”Mackey”]
Source: https://www.jacobinmag.com/2015/04/free-market-conscious-capitalism-government/

Even Stevens Makes Capitalism-With-a-Cause Work

Addressing nationwide food insecurity while creating a thriving restaurant business should be a Herculean task, but Michael McHenry tackles formidable projects several times a week. As the president of Even Stevens Sandwiches, McHenry exudes an unfailing optimism that’s carried the hip sandwich shop to six states with 20 locations-with many more scheduled to open in 2018. Craft sandwiches, a local vibe and a charitable cause have propelled Even Stevens to build an organization that employs hundreds and serves millions. Even Stevens opened its first location in downtown Salt Lake City in 2014 and introduced the concept of donating one sandwich for every sandwich sold. McHenry has an extensive background in the restaurant industry. He worked for 15 years in brand development, concept and operational performance before partnering with Even Stevens owner Steve Down to create the first restaurant in the industry that can correlate revenue with social impact. It took less than three years to sell and donate a million sandwiches, and by the end of 2017, Even Stevens had donated over two million sandwiches to more than 70 nonprofit organizations. The organizations place the order, often a $2,500 value, and the food is drop-shipped to the door with Even Stevens picking up the bill. Following a close second to the compassionate capitalism aspect of Even Stevens is McHenry’s enthusiasm for team development. Even Stevens donates around 100,000 sandwiches a month, and McHenry says overcoming challenges has contributed to the ongoing success of the brand. Each of the eight Even Stevens locations in Utah works with merchants from that area to provide a catalyst for the business community. McHenry says his job is to be a voice for social change, to find artisans in the food industry, to partner with nonprofits that are tackling food insecurity, and to find new neighborhoods where the sandwich shop can create a sustained impact.

Keywords: [“McHenry”,”Even”,”Stevens”]
Source: https://utahbusiness.com/even-stevens-shows-make-capitalism-cause-enterprises-work/

J.R.’s Zaphne Blog News for 03-20-2018

The Case For Compassionate Capitalism

To save capitalism from itself, FDR introduced what turned out to be the crucial missing ingredient: compassion. The damage done to the country during the Depression convinced him that unregulated capitalism always favors the rich at the expense of everyone else. So to save capitalism from itself, FDR introduced what turned out to be the crucial missing ingredient: compassion. Compassionate capitalism worked for everyone without busting the federal budget. Under Roosevelt’s compassionate capitalism – even with a Great Depression and a Second World War – the federal budget quickly came right back into balance. By the time Eisenhower was elected, compassionate capitalism was tightly woven into the fabric of American democracy. America’s social safety net was never viewed as the cause of eye-popping deficits until a radical group of political nihilists decided that the best way to kill the compassion in capitalism was to stubbornly refuse to pay for it. The reason compassionate capitalism is still hugely popular – Tea Party extremists notwithstanding – is because it works. America’s social safety net was never viewed as the cause of eye-popping deficits until a radical group of political nihilists, led by people like Grover Norquist, decided that the best way to kill the compassion in capitalism was to stubbornly refuse to pay for it – and then blame the resulting deficits on the lie that compassion itself is just too damn expensive. History has repeatedly demonstrated that compassionate capitalism leads to balanced budgets, a robust economy, and a piece of the opportunity pie for every citizen seated at America’s table.

Keywords: [“capitalism”,”deficit”,”America”]
Source: http://cognoscenti.legacy.wbur.org/2013/03/21/nick-paleologos

Libertarian Propaganda With Your Organic Arugula? – Mother Jones

If you shop at Whole Foods, you’ve probably seen the ads at the cash register for Conscious Capitalism. To give Mackey his due, he proved that many shoppers are willing to pay a premium for foods that are healthy, sustainably produced, and sold by workers who earn decent wages and health benefits. Reading between the lines you gradually get the sense that Mackey not only fears bad government, but also the one we have right now. If CEOs just did a little bit better job of looking out for the interests of their workers, their suppliers, and the environment, then government regulators and tax collectors could basically pack up and go home. We’d be left with a sort of enlightened corporatocracy in which people like Mackey would lead the way. At times, Mackey reveals a pathetic lack of consciousness for someone writing a book about it. If the dream world that Mackey paints in Conscious Capitalism inspires a few more CEOs to allow bathroom breaks in their sweatshops or spare some old-growth hardwoods in Borneo, then he has accomplished something. Conscious Capitalism could have been an interesting read if Mackey had chosen to pull back the curtain. He could speak frankly about some of the trade-offs that he made in order to popularize organic foods. For better or worse, Mackey has been thrust into a position of leadership that transcends the particulars of selling sustainably caught cod and organic kombucha: Whole Foods beat out other natural foods chains to dominate the market, and with that dominance comes an increasing duty to represent his politically minded customers in causes that they care about.

Keywords: [“Mackey”,”Capitalism”,”write”]
Source: https://www.motherjones.com/food/2013/01/whole-foods-john-mackey…

Natural Capitalism – Mother Jones

Today, more people are chasing fewer natural resources. Industry still operates by the same rules, using more resources to make fewer people more productive. As businesses successfully created more goods and jobs, consumer demand soared, compounding the destruction of natural capital. If the competitive advantage goes to the low-cost provider, and resources are cheap, then business will naturally use more and more resources in order to maximize worker productivity. Our thinking is backward: We shouldn’t use more of what we have less of to use less of what we have more of. In the United States, those who are employed, and presumably becoming more productive, find they are working 100 to 200 hours more per year than 20 years ago. In some cases – wind power, for example – the technologies not only operate more efficiently and pollute less, they also are more labor-intensive. This is what it promises: an economy that uses progressively less material and energy each year and where the quality of consumer services continues to improve; an economy where environmental deterioration stops and gets reversed as we invest in increasing our natural capital; and, finally, a society where we have more useful and worthy work available than people to do it. Natural capitalism may not guarantee particular outcomes, but it will ensure that economic systems more closely mimic biological systems, which have successfully adapted to dynamic changes over millennia. Almost perfectly with what American voters say they want: better schools,a better environment, safer communities, more economic security, stronger.

Keywords: [“more”,”resource”,”system”]
Source: https://www.motherjones.com/politics/1997/03/natural-capitalism

Capitalism, Compassion, and The Prisoner’s Dilemma

From a strictly rational, individualistic perspective, the choice is clear. This choice results in a 50/50 chance between a 5 year sentence and complete freedom, depending on the choice of the other prisoner, while cooperation would result in, at best, a six month sentence, and a 10 year sentence at worst. No matter what the other player does, one player will always gain by defecting. All things being equal, all rational players should choose defect. Now, I’m no expert on game theory, but what struck me in class when we were going over this was the fact that, although the clear rational choice for each individual player is to defect, a situation in which both players make this choice is clearly not the optimal outcome if we look at the game as a whole. Being a non-zero-sum game, the sum of both players’ gains, less their losses, need not return to zero, nor be equal in every possible outcome. Any instance in which one player chooses defect will result in a total of ten years of prison time, split either five-five or ten-zero. If both players cooperate a total of only one year, six months for each player, must be served. According to traditional game theory, cooperation is only a viable choice if the game is repeated an infinite or random number of times, as only then will the possible threat of punishment outweigh the potential for success with defection. If rather than considering only one’s own well-being, we look at that of both prisoners, taking into account the total effect of one’s choice, cooperation would be the only acceptable option for the compassionate player.

Keywords: [“plays”,”choice”,”game”]
Source: https://rossheutmaker.wordpress.com/2009/04/10/capitalism…

J.R.’s Zaphne Blog News for 02-02-2018

Why Intellectuals Hate Capitalism

“Intellectuals have always disdained commerce,” says Whole Foods Market co-founder John Mackey. They “Have always sided with the aristocrats to maintain a society where the businesspeople were kept down.” Having helped create the global grocery chain intellectuals arguably like best, Mackey has evolved into one of capitalism’s most persuasive champions, making the moral, practical, and even spiritual case that free exchange ennobles all who participate. A high-profile critic of the minimum wage, Obamacare, and the regulatory state, Mackey believes that free markets are the best way not only to raise living standards but to create meaning for individuals, communities, and society. Conscious Capitalism, the 2013 book he co-authored with Rajendra Sisodia, lays out a detailed vision for a post-industrial capitalism that addresses spiritual desire as much as physical need. Reason: You believe capitalism is not only the greatest wealth creator but helps poor people get rich. John Mackey: Intellectuals have always disdained commerce. You might say that capitalism was the first time that businesspeople caught a break. Mackey: It’s sort of where people stand in the social hierarchy. Mackey: I don’t know if it’s a psychological switch so much as that they weren’t necessarily grounded in the philosophy of capitalism. They’re attempting to not fall, so they try to rig the game, and we have crony capitalism. Mackey: The impetus behind so many of these types of regulations in the workplace is, in a sense, to shackle business again-to get it back under the control of the intellectuals. It’ll stifle the dynamic creative destruction of capitalism.

Keywords: [“Mackey”,”capitalism”,”Market”]
Source: http://reason.com/archives/2015/10/27/why-intellectuals-hate-capital

Libertarian Quotes

It is easy to be conspicuously “Compassionate” if others are being forced to pay the cost. I think that the people who are always attacking greed would be more consistent with their position if they refused their next salary increase. I don’t see even the most Left-Wing scholar in this country scornfully burning his salary check. In other words, “Greed” simply means that you are trying to relieve the nature given scarcity that man was born with. We haven’t of course reached that point yet; we haven’t reached the point where everybody is burning his salary increases, or salary checks in general. It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society. It is not the business of the law to make anyone good or reverent or moral or clean or upright. The great non sequitur committed by defenders of the State, is to leap from the necessity of society to the necessity of the State. ‘ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance. Free-market capitalism is a network of free and voluntary exchanges in which producers work, produce, and exchange their products for the products of others through prices voluntarily arrived at. All of the services commonly thought to require the State – from the coining of money to police protection to the development of law in defense of the rights of person and property – can be and have been supplied far more efficiently and certainly more morally by private persons. The State is in no sense required by the nature of man; quite the contrary.

Keywords: [“State”,”salary”,”economic”]
Source: http://libertarianquotes.net/R/Murray-Rothbard.html

Compassionate capitalism in the Middle Ages

Compassionate capitalism in the Middle Ages: Profit and philanthropy in medieval Cambridge. Using recently discovered documents on medieval Cambridge, we have investigated how money was made through property speculation and how the profits of successful speculation were spent. Property markets developed in medieval England as burgage plots were laid out in new or expanding towns by local landowners, with the king’s permission. While the operation of commodity markets and local trade during the commercial expansion of the 13th century has been explored by economic historians, the operation of the property market has been under-researched in comparison. Our research combines statistical analysis of medieval records with detailed analysis of the backgrounds of the individuals and institutions that developed property portfolios. We identify patterns in rents, highlight strategies used to assemble property portfolios and examine how the profits of property speculation were spent. Medieval speculators invested in a variety of properties. Property hotspots with high-rents can be identified in three parts of medieval Cambridge: at the road junction by the hospital; west of the market; and near the river just south of the hospital. Figure 2 Map of medieval Cambridge showing property hotspots. Profits from the property market were recycled back into the community through donations to religious houses, hospitals and churches. Properties were cleared and streets obliterated to create a new site for King’s College Chapel during the 1440s. Profits from property speculation benefitted individuals, family dynasties and the urban community as a whole.

Keywords: [“property”,”medieval”,”Cambridge”]
Source: http://voxeu.org/article/compassionate-capitalism-middle-ages

Marx and Engels: Scientific Socialism

In the 1840s, Engels and Marx concluded independently that the social order they were living in was doomed. Having served for a year as an officer in the Guards, his father sent him to work in the office of Erman and Engels in Manchester. On the way Engels and Marx met briefly for the first time – but did not like one another. Marx was editing articles about French socialism and communism but. In 1844 Marx lost his job as an editor and went to Paris to edit a journal and study economics and socialism. In Paris Marx received an article from Engels that he described as a work of genius. In Manchester Engels had gathered the materials for a book The Conditions of the Working Class in England, which he wrote after his return to Germany and published, in German, in 1845. In 1842, the year that Engels arrived, English workers, striking for the Charter, roamed the Midlands and North of England setting light to rich men’s houses and pulling out the plugs of factory boilers. Capitalism, Engels argued, was subject to periodic crises, and one of these would be the occasion for the working class wresting power from the capitalists and establishing a communist society. Engels and Marx believed passionately that scientific theory could transform the world if it was linked to the struggles of the working class. In France, a dictator was elected by the people in a popular election! Disappointed, but not defeated, Marx turned his attention to the economic analysis of the foundations of capitalism, and out of this developed his monumental work: Das Kapital. Economics for Marx and Engels was not just economics: it was the explanation for everything.

Keywords: [“work”,”Engels”,”Marx”]
Source: http://www.studymore.org.uk/she12.htm

J.R.’s Zaphne Blog News for 02-02-2018

Texas CEO Magazine Conscious Capitalism

In his book, “Conscious Capitalism,” which he cowrote with Jar Sisodia, a veteran professor, author and business consultant, Mackey works to defend capitalism, and introduces his concept of conscious capitalism, which he believes can help to turn around the negative images big businesses sometimes receive. In Mackey’s eyes, entrepreneurs are heroes, especially if they can adapt conscious capitalism into their business practices. It’s a complete overhaul of the way most organizations do business, and in his book, Mackey offers a breakdown of how conscious capitalism works by spelling out his philosophy’s four core tenets. Finding a higher purpose is so crucial to practicing conscious capitalism, Mackey states that companies should actually address this task first, even before developing a business strategy. The second tenet Mackey lays out for incorporating conscious capitalism is stakeholder integration. Mackey says that conscious leadership, his third tenet, is perhaps the most important one in developing conscious capitalism. In selecting conscious leaders in his business, Mackey looks for individuals who have emotional, spiritual and servant leadership skills combined with integrity and a capacity for love and care. The final tenet in Mackey’s conscious capitalism model is conscious culture and management. Mackey describes culture as a “Powerful but invisible force,” and states that conscious businesses must strive to maintain a distinctive culture that serves to promote the company’s higher purpose while maintaining harmony among stakeholders. Conscious management, on the other hand, is a less traditional form of management, Mackey says. Mackey describes conscious management as the freeform jazz to traditional management’s centralized symphony. Mackey closes the book by running through the steps to creating or transforming into a conscious business.

Keywords: [“Mackey”,”Conscious”,”business”]
Source: https://texasceomagazine.com/book-review/conscious-capitalism

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Keywords: [“American”,”Capitalism”,”Ideal”]
Source: http://www.cocorich.org/c/a/capitalism-and-the-american-political-ideal.pdf

Three Stories about Capitalism

Over the next two years I came to see that there were two diametrically opposed stories about capitalism circulating in Western cultures: capitalism is exploitation, and capitalism is alchemy. I began to write out those stories and make them explicit in the business ethics courses I was teaching at Stern. In February, I was given the chance to tell those two stories at an unusual panel discussion. So I figured that this second meeting would be a good place to bring up the two stories about capitalism and ask him if he really meant to embrace the exploitation story told by Marxists everywhere, despite the fact that Marxism usually leads to poverty and secret police forces. These two stories, plus a third, yet to be written, is the topic of my next book. In my remarks today, I’d like to tell you three stories about Capitalism. Here is the first story, Capitalism is exploitation. What if we were to judge people, and ideologies, by their results, rather than by their intentions? That would lead us to the second story about capitalism: Capitalism is our savior. He criticized those who embrace the second story too firmly as exhibiting “A crude and naïve trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system.” And this brings us to the third story about Capitalism, the story that has yet to be written. THIRD STORY. Once upon a time, in the 1990s, capitalism triumphed over all other forms of economic organization, and the entire planet began moving toward prosperity. Then let us work together to write the third story, a story that must draw on insights from left and right, and from secular thinkers and religious leaders. Is there a story about capitalism that could be embraced by Pope Francis, His Holiness, and the rest of today’s panelists? Let’s find out.

Keywords: [“story”,”capitalism”,”economic”]
Source: http://righteousmind.com/three-stories-about-capitalism

J.R.’s Zaphne Blog News for 02-01-2018

LIFE AFTER CAPITALISM, Presentation for Edmonton, Calgary, and Saskatoon

The global corporation responds by using its great power to reshape cultures, limit consumer choices, pass costs onto the public, and press governments to provide subsidies and rewrite the rules of commerce in their favor. Commonly the corporation responds in ways that destroy the most precious of all our wealth: the living capital of the planet and of human societies on which all life and the fabric of civilization depend. The corporation destroys living capital when it strip-mines forests, fisheries and mineral deposits, aggressively markets toxic chemicals and dumps hazardous wastes. It destroys human capital by maintaining substandard working conditions in places like the Mexican maquiladoras where corporations employ once vital and productive young women for three to four years until failed eyesight, allergies, kidney problems, and repetitive stress injuries leave them permanently handicapped and they are replaced with a new batch. By contrast, what we know as the global capitalist economy is dominated by a handful of gigantic corporations and financial speculators with trillions of dollars at their disposal to reshape markets and manipulate prices. If we consider the gross sales of a corporation to be roughly equal to the GDP of a country, we find that of the world’s 100 largest economies, 51 are economies internal to corporations. The economy internal to a corporation is not a market economy. No matter what authority the head of a corporation may delegate, he can withdraw it with a snap of his fingers. In the U.S. system, which is rapidly infecting Europe and the rest of the world, the head of a corporation can virtually hire and fire any worker, open and close any plant, change transfer prices, create and drop product lines almost at will – with no meaningful recourse by the persons or communities affected. The power of the corporate head to dictate internal policy and action within the corporation’s centrally planned economy would have made any Soviet planner green with envy. Capitalism has simply shifted the planning function from governments – which in theory are accountable to all their citizens – to corporations – which even in theory are accountable only to their shareholders. Just to give you an idea of the degree of concentration – In 1995, the combined sales of the world’s top 200 corporations equaled 28 percent of total world GDP. Yet these corporations employed only 18.8 million people, less than 1/3 of one percent of the world’s population.

Keywords: [“corporation”,”economy”,”world”]
Source: https://ratical.org/many_worlds/capitalism.html

Whole Foods’ John Mackey: The conscious capitalist

Deeply, profoundly, to his core, John Mackey is a capitalist. “He’s so who he is every minute of every day,” says Whole Foods CFO Glenda Flanagan, who has worked with Mackey for 26 years. “For a long time I thought Whole Foods was just a weird company and nobody was like us,” he says, “And I read that book, and I realized that we were not alone.” Sisodia visited Mackey in Austin, and the two started using the term “Conscious capitalism,” a phrase credited to Nobel Peace Prize winner Muhammad Yunus, author of Banker to the Poor and founder of the Bangladeshi microfinance lender Grameen Bank. Sisodia and Mackey invited a number of executives to a summit on the notion of purpose-driven business in 2008 and the following year created a nonprofit enterprise called Conscious Capitalism Inc.  But to really spread the movement, Mackey and Sisodia knew they needed a manifesto of sorts: a book targeted at executives. During his presentation, Mackey outlines what’s required to be a conscious leader: analytical, spiritual, emotional, and systems intelligence. Whole Foods, he says, “Was meant to be healthy food for the world, not just for a few people.” Mackey was skeptical at first: “I’m going to trust you on this, Walter, but I don’t want to lose money,” Robb recalls his partner telling him. “I thought John was probably just the brightest kid at UT,” says Kip Tindell, a college housemate of Mackey’s and CEO of the Container Store, another company that’s part of the conscious capitalism movement. Mackey felt as if he had made enough money in his life, and it increasingly bothered him that people would dismiss his arguments about conscious capitalism because of his pay. In 2007-the last time, according to Mackey, that Whole Foods was in a cyclical trough-the company was facing off against the Federal Trade Commission, which had challenged Whole Foods’ proposed acquisition of a smaller health food chain, Wild Oats. “One of the great things about John Mackey is he’s opinion-rich, but he’s educated,” says Roy Spence, chairman and co-founder of advertising agency GSD&M and a longtime friend of Mackey’s. Mackey is now working on a book called The Whole Foods Diet, based on eating 90% plant-based foods. “We’re food addicts.” Mackey starts rattling off statistics-54% of our calories come from refined sugars, grains, and oils-basically processed junk food; 32% from animal foods; only 14% are whole plant foods, and a good portion of that comes from fried potatoes.

Keywords: [“Mackey”,”food”,”Whole”]
Source: http://fortune.com/2015/08/20/whole-foods-john-mackey

J.R.’s Zaphne Blog News for 01-29-2018

Compassionate Capitalism: A Judeo-Christian Value by Harold Eberle

In Compassionate Capitalism, Salesforce.com’s CEO Marc Benioff and veteran journalist Karen Southwick describe a new model of philanthropy that is so ingrained into every fiber of a company’s existence that it becomes integral to the company’s culture and a part of what holds the corporation together. Employees must be convinced that senior management is truly dedicated to the notion of philanthropy and will not somehow penalize those who don’t spend every waking hour either working or thinking about the company’s products and marketing. Philanthropy can play a vital role in a company’s effort to stay viable by attracting the types of employees and customers and other stakeholders who value a whole company and a full life. In the first, philanthropy never really becomes part of the culture, but is based on the CEO’s whim and can be turned off or on depending on his or her devotion to Leadership From the Top How does a firm establish a culture of philanthropy? As with any company cultural issue, leadership must come from the top. Start Small Smaller companies have to get real about what they can do in terms of philanthropy. Maintain Philanthropy Through Tough Times The real measure of a corporation’s commitment to philanthropy happens when the company runs into trouble: Profits are falling or nonexistent, revenues may be shrinking, layoffs are occurring, employees are demoralized, and management is scrambling to meet financial targets. Philanthropy may be even more important to a corporation during these kinds of times, as a signal to employees, customers, partners and other stakeholders that things will get better, and the company is taking a long-term view of the world that includes community service. Gerstner shifted IBM from a “Products” company to a “Solutions” company, focusing on making things work together for its customers. At companies for whom philanthropy is a core value, performance of service within the community only enhances performance at the corporation. Look at the Whole World Companies must look at the whole world as their potential community, and then thoughtfully select areas where their philanthropy is most needed and can have the greatest impact, based on their mission and program focus areas. Soundview Executive Book Summaries Compassionate Capitalism – SUMMARY Strategic Philanthropy How much should a company exploit the public relations benefits of doing good? Some companies prefer to do what they call “Pure philanthropy,” which they consider philanthropy that does not have a marketing component built in. “Collaboration is a powerful model,” says Jeff Swartz, president of the Timberland Co. “We invite our suppliers to serve with us. We invite other companies. I believe small companies can be big companies by applying this model of leverage and engagement. It’s an opportunity to access joy.” 2.

Keywords: [“company”,”philanthropy”,”employee”]
Source: https://www.qaasoo.com/wp-content/uploads/2017/09/Compassionate-Capitalism.pdf

The Free-Market Fantasy

Since 1980 his heart has led him to create and run Whole Foods Market – “a store that sells healthy food to people and provides good jobs.” More recently, Mackey has embarked on a grander mission: “To liberate the extraordinary power of business and capitalism to create a world in which all people live lives full of prosperity, love, and creativity – a world of compassion, freedom, and prosperity.” Sure, companies have been misbehaving recently, but before we throw the baby out with the bathwater, Mackey implores us to remember that most of the wonderful things we have in the world, like cars, computers, antibiotics, and the Internet, are a product of free markets, not “Government edict.” The “Wondrous technologies that have shrunk time and distance” and freed us from “Mindless drudgery” have become possible only because of free market capitalism – “Unquestionably the greatest system for innovation and social cooperation that has ever existed.” Departing from the dominant idea that states have retreated from the market over the past three decades, Mackey argues states have become more interventionist than ever, and that in the process they have “Fostered a mutant form of capitalism called crony capitalism” that is to blame for many of the problems societies face today. As economic historian Karl Polanyi argued decades ago, capitalist markets are a product of state engineering, not nature. The history of industrial development in the United States, often considered the epicenter of free markets, demonstrates the political nature of markets. The history of market formation in the United States reveals an industrial structure supplied by goods and capital extracted from slave labor and facilitated through a state-sponsored, genocidal land grab. Far-reaching government legislation protected domestic markets and infant industries from external competition, and federal and state governments played a central role in the development of physical infrastructure and the creation of huge bodies of agricultural and industrial knowledge – all essential elements in the genesis of American industrial capitalism. At the same time, society’s greatest inventions and innovations of the past two hundred years – rockets to the moon, penicillin, computers, the Internet – were not bestowed upon us by lone entrepreneurs and firms operating in free markets under conditions of healthy competition. Companies produce influential innovations, but so do other institutions that operate outside the confines of the profit motive, competitive markets, and the bottom line. Designating the market as natural and the state as unnatural is a convenient fiction for those wedded to the status quo. Free markets don’t exist and other institutions like states clearly matter. Free markets don’t exist, but maybe corporations are still the best, most sensible, way to heal the planet.

Keywords: [“Market”,”capitalism”,”Mackey”]
Source: https://www.jacobinmag.com/2015/04/free-market-conscious-capitalism-government

JR Test Site News for 01-24-2018

Andrew Bernstein: The Capitalist Manifesto

John Mackey’s Whole Foods Vision to Reshape Capitalism

“It is something you discover and also create.” Mackey, founder and CEO of Whole Foods Market, is riffing on the gospel of what he calls Conscious Capitalism. Liberal Whole Foods customers organized nationwide boycotts, while self-described “Radical conservative” Tea Party types rallied around Mackey, calling for Whole Foods “Buycotts.” Now, sitting in a soulless beige conference room in Whole Foods’ Austin headquarters, with Mount Bonnell looming beyond the window and two protective publicists at his side, Mackey finally starts to relax. Two years ago, Mackey began rolling out his Catalyzing Conscious Capitalism Summit, which he will be expanding to Europe and India next year. The way Mackey sees it, Whole Foods has already left the world in better shape than he found it. Mackey has always considered himself a philosopher in the making, once telling Time that if his ex-girlfriend had never persuaded him to launch Whole Foods, “I’d probably be in an attic somewhere scribbling off insane philosophies that nobody reads.” The pursuit of any of these shiny goals, he says – harmonized with the needs of all a company’s many stakeholders – will deliver the enterprise to a Conscious Capitalist state of perfection. “Our purpose is to organize people’s lives to save them space and time. There’s a certain Zen quality to being organized,” says Kip Tindell, CEO and cofounder, noting that the company’s other deeper purpose is “To be the best retail store in America.” Ever since Mackey turned Tindell on to the Conscious Capitalism model, the purveyor of plastic tubs says he’s seen the light. In Mackey’s eyes, Whole Foods itself pursues both the good and the heroic. “The experience of being in the birth canal,” Mackey recalls on his Conscious Capitalism. As Gilbert explains, “The odds that an existing public company like Whole Foods with a large amount of disembodied third-party institutional investors is going to vote to expand its corporate responsibilities are pretty remote to say the least. That’s why we haven’t spent a lot of time talking to the John Mackeys of the world. They are already public companies. The genie is out of the bottle.” Mackey professes to be aloof from any concerns about Whole Foods’ stock price. “The endgame is now under way for OATS.” wrote Rahodeb, Mackey’s alter ego, of Whole Foods’ largest then-rival, Wild Oats. “Whole Foods is systematically destroying their viability as a business – market by market, city by city.” Mackey was cleared of any impropriety in the “Sock puppeting” fiasco.

Keywords: [“Mackey”,”company”,”food”]
Source: https://www.fastcompany.com/1460600/john-mackeys-whole-foods-vision-reshape-capitalism

BICHLER & NITZAN The Enlightened Capitalist In order to buck this trend, however symbolically, we wrote a short, pointy article titled ‘Why Capitalists Do Not Want Recovery, and What That Means for America’. Clearly, the enlightened capitalist press wasn’t particularly keen on showcasing the power basis of accumulation. 3- BICHLER & NITZAN The Enlightened Capitalist I think that you are doing tremendous harm by publishing articles that mislead the public into thinking that capitalists do not want recovery. Small businesses are being looted and taken over by the government while shortages increase and inflation soars at over 60%. Are capitalists profiting from this crisis? No just corrupt politicians and businessmen that collude with state run enterprises all of whom would never survive in a capitalist economy. The leading capitalists and their investment organs are taking over larger and larger chunks of our natural resources, human-made artefacts and collective knowledge; they formulate and steer public policy to their own advantage; and they dominate ideology, education and the mass media. Second, the very power logic of accumulation – the need to strategically sabotage others in order to increase one’s own share of the total – forces capitalists to continue and dig their own graves, so to speak. Now, of course, most capitalists, particularly the smaller ones, are unaware of and certainly won’t admit these power underpinnings of capitalism. For politically correct capitalists with substantial money to invest, Mr. X’s fund offers a carefully hedged, two-pronged strategy: buying and holding do-good companies that profit from saving the planet while shorting firms that harm the environment and governments that misallocate the world’s resources. To see real capitalists in action, you need go to their ‘impact investing’ gatherings, where they deliberate saving the world, capitalist style. The mandate of the ‘ethical fund manager’ is simple: leverage the world’s distortions and imperfections by selling short and buying long future variations of inequality, the ups and downs of expected hunger, anticipated ecological degradation and regeneration and other assorted disasters and triumphs – and do it all in such a way that we, your capitalist clients, end up beating the holy average. The problem is that, according to the enlightened capitalist, we don’t live in the best of all possible worlds, but in one of the worst. So in the end, the only way to beat the big unreal capitalists of the distorted world is to join them.

Keywords: [“Capitalist”,”world”,”power”]
Source: http://bnarchives.yorku.ca/397/3/20140400_bn_the_enlightened_capitalist.pdf

JR Test Site News for 01-22-2018

John Mackey: Enlightened, Annoying Capitalist

Whole Foods CEO John Mackey is everywhere! Why? Because he owns a hippie grocery store chain, is himself hippieish, and also he is a conservative libertarian dude! That makes the things he has to say newsworthy! Mackey wrote a Wall Street Journal op-ed on health care reform, because his company successfully switched all their employees to cheap, high-deductible plans, and he was pretty sure this solved the health care reform mess, no government help needed. High-deductible health plans are great at making health care consumers more cost-conscious. They are also a pretty great way to make sure low-income people continue to accrue medical debt and choose not to receive basic medical care because it is too expensive! Whatever, business owner thinks he knows better than liberal government. This apparently really upset the rich hippies who shop at his grocery store for rich hippies. Upsetting rich hippies is totally bad-ass and cool, which is why hipster libertarian magazine Reason stuck Mackey on the cover of their January 2010 issue. Here is a line from the third graf: “It was as if a bomb had gone off in the arugula line.” Matt, Nick, you are worldly men: are there lines for specific produce items at the grocery stores you frequent? Anyway! He comes off as, basically, a guy who got into health food in the ’70s and then parlayed that into a lucrative business selling “Real food” to college educated well-off people. Mackey is the older, hippier Dov Charney: creator of hipster/yuppie fetish objects who says his corporation can be a tool for good while busting unions and promising that the enlightened self-interest of one daddy-figure CEO is way more valuable for the worker than silly old “Collective bargaining.” Mackey pays himself a dollar and pays his employees well. Charney compensates his garment workers really well. At least Charney advocates for immigration reform and gay rights when not touching employees semi-consensually. Mackey? He thinks he’s a worldly liberal guy because he sold tofu and beer in the same Austin organic grocery store in 1980, because he enjoys hiking, because his wife is a fucking Sufi Mystic or some such complete horseshit. He’s out there op-edding against health care reform, and getting a shit-ton of press for doing so, because as long as everyone in America is his employee, they will get pretty ok coverage.

Keywords: [“Mackey”,”health”,”hippie”]
Source: http://gawker.com/5435796/john-mackey-enlightened-annoying-capitalist

Enlightened Capitalism is Suggested by the USAID

The current trend in international development is to encourage sustainable business creation within developing nations. Capitalism for the poor is the new “Cool” for those who see entrepreneurial efforts as a way to build a nation toward economic security. We have observed that business development can be leveraged to benefit more people and to grow prosperity more organically. Even the US government is getting on the business creation bandwagon in targeted regions of the world. Resent comments from Dr. Rajiv Shah of USAID suggested that development work “Should prioritize broad-based, sustainable economic growth that can boost incomes, create jobs, and reduce poverty”. These goals are a part of USAID’s push for “Enlightened Capitalism” among its development partners. Dr. Shah is leading the move to create business ideas that will take the agency in a new direction and encouraged the development community to “Embrace a new wave of creative, enlightened capitalism” that connects profit, wealth and development. He continued: “I’m talking about helping support the work of markets that can deliver profits and create opportunities for women, minorities and the poor. We must partner with the private sector much more deeply from the start, instead of treating companies as just another funding source for our development work.” In an era of tight budgets and a lack of American jobs it is hard for the USAID to push a new agenda forward. Opportunities to partners with American industry in capitalist activities would be great for both the developing nation and the US economy. Foreign governments should take advantage of the American business resources to leverage this trend toward enlightened capitalism. Speaking on the benefits of using US business expertise, the director suggested that foreign leaders should “Ask us to serve as connectors to American ideas. And best of all, transferring ideas enriches us both, creating new markets for American goods and services and new jobs for American workers”. USAID should continue to explore business partnership opportunities in each of the developing nations. We support the plan that allows businesses to share ideas for the benefit of a capitalism among the developing nations. We are happy to partner with USAID to create these new-found profit centers for the world’s poor.

Keywords: [“business”,”development”,”new”]
Source: https://cementtrust.wordpress.com/2011/11/03/enlightened…

Robert Reich

Hillary Clinton won’t be the only winner when Donald Trump and his fellow haters are defeated on Election Day. Another will be Paul Ryan, who will rule the Republican roost. While the Clinton-Ryan years won’t be marked by the same kind of petulant gridlock we’ve witnessed over the last eight, the ascendance of Ryan and Clinton will mark a win for big business and Wall Street over the strongest anti-establishment surge America has witnessed since Great Depression. Clinton might be able to summon Ryan’s support on a “Buffet rule” for the highest-income taxpayers – an effective minimum tax of 30 percent on top incomes. The price Ryan can be expected to exact will be lower corporate tax rates, along with a tax amnesty on corporate profits repatriated to the United States. To offset the added spending and tax cuts, Ryan will probably want Clinton to trim Social Security, and slow the growth of Medicare. The assets of the typical family today are worth 14 percent less than the assets of the typical family in 1984. The typical job is less secure than at any time since the Great Depression. Big money has corrupted our democracy, resulting in laws and rules that systematically favor big corporations, Wall Street, and the very rich over everyone else. Consider, for example, the growing market power of leading pharmaceutical companies, private health insurers, the biggest Wall Street banks, giant cable providers, four major airlines, and five largest high-tech companies. The resulting imbalance is transferring money out of the pockets of average Americans directly into the pockets of major shareholders and top executives. Mandatory arbitration clauses in contracts with giant corporations are forcing people to give up rights under a wide variety of consumer and employment laws. The reforms Hillary Clinton and Paul Ryan are likely to agree to are miniscule compared with the scale of this imbalance. Hopefully, the leaders of big business and Wall Street – the true winners of the 2016 election – will realize that although they avoided Trump’s authoritarian populism and Sanders’s “Political revolution” this time around, they won’t for much longer. In the first decades of the twentieth century, enlightened business leaders joined with progressive reformers to rebalance American capitalism – thereby rescuing it from the savage inequalities and corruption of the Gilded Age.

Keywords: [“Ryan”,”Clinton”,”Wall”]
Source: http://robertreich.org/post/151920926970