Can capitalism work for us?
Posted a new blog on The Everyman about economic disparity, the distribution of wealth and the role capitalism played in getting us in the mess which is depicted in this tell-tale Youtube video. Read the entire blog here.
For a long time, I have been a convinced supporter of capitalism, but there is no denying the situation we are in, as depicted in the video above. The strange thing is that capitalism in theory should have a perfect outcome. The beauty about capitalism (in theory) is that we shouldn’t need government to redistribute wealth more equally. After all, there is no reason to believe that governments are more fit than us as individuals to determine what is fair – let alone the question whether they are equipped to do it properly and efficiently. So, if capitalism is not working for us (and I would argue that that’s the case), but the system itself is not at fault – are we? Well, frankly: yes. Capitalism rewards those who meet demand and keep customers happy. Customers have tools to penalize or reward companies based on their opinions and experiences. If we are not happy with CEO’s or shareholders having billions of dollars, or if we are just not happy with the way they are using (or not using) their billions, we can stop using their products. But we don’t.
Perhaps the distribution of wealth is so far askew by now that it’s impossible to shift it back, but why are we not even doing what we can? Is it complacency? Defeatism? Ignorance? We, the customers have the power to destroy companies if we feel they have a counterproductive effect on society, and to build companies that we support. But the only way to do that, is through cash flow. Of course it is pimarily the responsibility of the wealthy themselves to do good with their resources, but if they fail to do so, the answer must come from somewhere else.