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American Capitalism is Dying!
by T.E.C. - Iowa
Jan 21, 2017
This is from economist Richard Wolff!

When we used slavery, we had markets and the system was exploitative.

When we used the feudal system, we had markets and the system was exploitative.

We now have capitalism! It has nothing to do with markets. We have always had markets.

Just as slavery is defined as master vs. slave and feudalism is defined as lord vs. serf, capitalism is defined as employer vs. employee. And oh yes, it is exploitative!

Capitalism is also a flawed system and its major flaws are visible today. In capitalism, the employers always want to pay the employees less. Yet, if he succeeds, and he has in today's economy, there will be no one to buy his products.

Another flaw is, capitalism is not based on competition. Capitalism, in its unregulated form, eliminates competition until you have a monopoly.

There is more, and yes, people have ideas on what the next system should look like! Yet, this system is at its ...See More
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