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General News 7/24/2012 at 3:43 PM EDT H3'ed 7/24/12

Capitalism is about pleasing shareholders, not creating jobs

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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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Hamid Zangeneh Social Media Pages:

Professor of Economics, Widener University, Chester, Penna, 19013, USA and editor of Journal of Iranian Research and Analysis (www.cira-jira.com). He is a political activist in human rights. His areas of specialization are macroeconomics, (more...)

Related Topic(s): Capitalism; Capitalism Failures; Capitalism Over Humanity; Jobs; Jobs Bill; Jobs-Outsourcing; Outsourcing, Add Tags

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