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Politics and Activism

American Capitalism: Corporate Greed and Corruption

The Hypocrisy of Big Business and the Conservative Right

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American Capitalism: Corporate Greed and Corruption
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Many would say that we in America live in a capitalist society, but I’m not entirely convinced that this is so. The Oxford Dictionary defines capitalism as “an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.” In one sense, we are indeed a capitalist society, with fluctuations in the free market informing social interactions, fashion trends, and even influencing government policy. So yes, in that regard, capitalism is alive and well in America.

However, in another sense, we are very distinctly not a capitalist society. Government bailouts and tax breaks for CEOs and large corporations fund the perpetual cycle of reckless spending of big business and the government entities they control through campaign contributions and political lobbyists. So no, in that regard, American Capitalism is no longer capitalism, but something much more sinister.

The great hypocrisy of what I will call “American Capitalism” is that it insists on a complete lack of government oversight, at least until profits dry up and companies need assistance from the government to stay afloat. So to those who claim that American Capitalism is the ultimate form of economics, I pose a question: if it is not okay for government to interfere in free trade, why then is it okay for government to intervene when CEOs run their companies into the ground through their own poor business decisions?

See, it just doesn’t make sense. You can’t fight government regulation at every turn and then turn to the government in your time of need. You can’t fight against advancing the minimum wage for laborers and then expect a handout for your board of directors when you end up in hot water with the banks, which have their own separate set of issues. You can’t fight against socialist programs to ensure the livelihood of the many and then take advantage of socialist programs for your own benefit. You just can’t have it both ways.

Let’s be clear about one thing: I do think businesses should receive tax credits for making responsible business decisions, but in terms of bailouts and government subsidies, I have a big problem justifying the “trickle down” argument when the average worker or small business owner sees no “trickle down” and is expected to fail from the outset. But of course, they don’t deserve help because they’re small fish. They aren’t working hard enough to achieve success, right?

That kind of thinking is dangerous. The public buys into the idea that things have always been this way, that the current economic system is the only system that will ever work, when in reality, there are a lot of things to be improved. It is irresponsible to insist on living in a state of disregard for the general welfare of others because that is the perception of how the system works.

And the most frustrating part? Conservatives constantly call out the few people who game the system and abuse welfare, discounting millions of hardworking Americans who simply can’t get by with the minimum wage. Yet they never call out the Wall Street executives or the pharma CFOs who game the system for a million dollar tax break.

I have come to the realization that the vast majority of Americans who think this way are either blind or stupid. How anyone can refuse to acknowledge the obvious problems and continue to vote for and continue to support corrupt officials who will continue to allow this kind of behavior is beyond me.

Maybe it is time for a change, America. We’ve got to do something to change the direction this country is headed. Global warming is an ever-growing danger, we are in desperate need of clean energy and better business practices, and it is entirely too expensive to make a basic living in America. For those who would say, “You can’t change the course of an entire country. It’s too big. It’s always been this way and it always will,” I will echo my political hero, Bernie Sanders. He says, “If it’s too big to fail, it’s too big to exist.”

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This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
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