Send a Tweet
Most Popular Choices
Share on Facebook 17 Share on Twitter Printer Friendly Page More Sharing
Exclusive to OpEdNews:
OpEdNews Op Eds    H2'ed 11/23/16

Trump's Election Could Mark the End of Unrestrained Capitalism

By       (Page 1 of 2 pages)   4 comments
Become a Premium Member Would you like to know how many people have read this article? Or how reputable the author is? Simply sign up for a Advocate premium membership and you'll automatically see this data on every article. Plus a lot more, too.
Author 81593
Message Sam Amer

Trump's Election Could Mark the End of Unrestrained Capitalism

Many politicians, pundits and editorialists offered wide-ranging explanations for the surprising election of Mr. Trump to the highest office in the land. They included: the spreading of false information, interference from the office of the attorney general, lack of trust in secretary Clinton, biased news media, etc. However, the real reason behind the election of Mr. Trump is probably much broader and deeper than any of the offered explanations. In fact, Mr. Trump's election may mark the beginning of the end for capitalism as we know it.

Everyone agrees that one of the main reasons for the election of Mr. Trump was the dissatisfaction of white men in suburban areas with their income levels and job opportunities. Lop-sided wealth inequality in the United States and most Western capitalist societies has shown that wealth, income and the associated political power are limited to those at the upper echelons of society, with little seepage down to the lower rungs of the economic ladder. Our democracies are in fact plutocracies, where the rich control everything. The accumulated resentment and disgust of those on the lower economic and social strata is what motivated people to vote for Trump. Hillary Clinton represented continued oppression by the 'establishment', while Mr. Trump represented a possible escape. Any systemic change is more attractive to the oppressed classes than the status quo. Similar resentments and possible elective upsets are brewing in other Western capitalist societies as well.

Although change may create hope and decrease resentment, if not done correctly it could harm rather than help those calling for it. In the United States, we are already seeing the beginnings of proposed changes by the Trump team that may result in increased racism and even violence. We are also hearing calls for major alterations in international policies and other agreements that could prove adverse to those seeking to escape plutocracy. We need to focus more on the real causes underlying the discontent of the lower classes, and design policies that will address their grievances without destroying the system itself. Otherwise, the cure may be worse than the disease.

Capitalism has proven itself to be the best economic system to elevate human living standards. However, when combined with selfish interests, unrestrained capitalism is responsible for expanding income inequalities. In the United States, we see people making hundreds of millions a year, while others are begging on the streets. Over forty million people are living in poverty here in the U.S. There is no justification for this. Capitalism must be restrained to counter insatiable selfishness and ensure more equitable living standards.

Among the changes that need to be considered are:

1. Much higher taxes on incomes above certain levels. There is no need for anyone to have incomes in excess of say 2-5 million a year.

2. Proper income ratios between CEO's salaries and those of their employees.

3. International controls on the flows of assets across borders designed to avoid taxation.

4. Increasing inheritance taxes, we don't need American dynasties.

5. Guaranteed Social security, minimum income, free education and medical care.

Next Page  1  |  2

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

 

Rate It | View Ratings

Sam Amer Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Retired Pharmacologist with two masters and a Ph.D.
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

America: The World's Remaining Imperialist Power

The Developing New American Caste System

Let us face it: It was a mistake to create Israel in the first place

What is happening in Egypt now

Our Declining Patriotism

The Distracted Nation

To View Comments or Join the Conversation: