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Capitalism is about pleasing shareholders, not creating jobs

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Headlined to H3 7/24/12


At www.pennlive.com

Mitt Romney has been repeatedly attacked for his record at Bain Capital by super PACs supporting President Barack Obama and the Obama administration. He's said to have invested in companies that were pioneers in outsourcing U.S. jobs to low-wage countries. Although the attacks seem to be working -- a July 2 NBC News/The Wall Street Journal poll shows that 33 percent of Americans have a negative opinion of Romney's business record compared with 18 percent who have a positive opinion -- they do not represent the reality of capitalism because a capitalist's main goal is not to create jobs. The main purpose of a firm such as Bain Capital in a free market capitalist system is to maximize profits, not to maximize revenues, sales or employment.

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At www.pennlive.com


 

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