georgephillip
Diamond Member
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- #2,841
Originally, the US Constitution had little to say about the dominant capitalistic organ of our time, the corporation. Elected representatives of both major political parties in the US depend on the richest 1% of citizens to fund their campaigns and retirements, and the richest 1% depend on corporations to supply their incomes. IMHO, a Second Constitutional Convention would be required to limit corporate influence, but not if Republicans AND Democrats controlled the convention.Where is Democracy to be found in a world where the three richest individuals have assets that exceed the combined GDP of 47 countries?
A world where the richest 2% of global citizens "own" more than 51% of global assets?
Ready for the best part?
Capitalism ensures an already bad problem will only get worse.
"The Organization for Economic Cooperation and Development (OECD) states that income inequality 'first started to rise in the late 70s and early 80s in America and Britain (and also in Israel)'.
"The ratio between the average incomes of the top 5 per cent to the bottom 5 per cent in the world increased from 78:1 in 1988, to 114:1 in 1993..."
"Stiglitz relays that from 1988 to 2008 people in the worlds top 1 per cent saw their incomes increase by 60 per cent, while those in the bottom 5 per cent had no change in their income.
"In America, home to the 2008 recession, from 2009 to 2012, incomes of the top 1 per cent in America, many of which no doubt had a greedy hand in the causes of the meltdown, increased more than 31 per cent, while the incomes of the 99 per cent grew 0.4 per cent less than half a percentage point."
Spotlight on Worldwide Inequality
There are alternatives that don't require infinite "growth."
Regulated Capitalism is a great base for any Society (the constitution regulates it)
Yet our Capitalism is regulated largely and we see a large amount of people wanting to live like China where there is almost no regulation. We even see people and parties that say we shouldn't listen to the Constitution and we shouldn't regulate at all. We should just be a profit driven nation.