The May 12 issue of Time Magazine included an article titled, “American Capitalism’s Greatest Crisis.” It included the following: A couple of weeks ago, a poll conducted by the Harvard Institute of Politics found something startling: only 19% of Americans ages 18 to 29 identified themselves as “capitalists.” In the richest and most market-oriented country in … Read more
During the 2012 presidential election, there was much talk by Republicans about “makers” and “takers.” The essence of the their argument was that the wealthy were job creators while those on any kind of public assistance were not contributing to the economy. If the success of the US economy is dependent on consumption, perhaps … Read more
During the height of the Occupy Wall Street movement, many opponents argued that the participants were un-American. They did not believe in capitalism. And reveled in the drop in stock values associated with the 2008 recession. On the morning of November 30, 2011, I saw a headline on CNBC.COM titled “Hedge Funds Drop Stocks.” In … Read more