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Dennis L. Green's avatar

Something is broken and needs fixing, but Donald Trump is the last person on Earth capable of fixing it. What's broken is American Capitalism, and it's destroying the American Dream. What passes for capitalism in America at the corporate level is a fraud.

Capitalism, as envisioned by Adam Smith, does not work without a free competitive marketplace. It is not the profit motive alone that inspires progress but the competition in the market that inspires innovation and efficiency. Without government regulation, which means the consumer majority in a democracy, a capitalist system degenerates into cartels and monopolies. In a monopoly, or the divided monopoly of a cartel, the capitalist can extort profit without the effort of innovation or efficiency. This degenerative process is known by the sanitized name of corporate consolidation, but the end result is the same.

A system where the worker has not choice but to submit to the demands of the local land baron is called feudalism. The profit of the land baron does not make him a capitalist. He's feudal lord. Substitute a baron of industry, and you have corporate feudalism, but in America, we pass this off as capitalism. It is not real capitalism, so what we need to do is fix capitalism in America. We do that by breaking up the monopoly powers. The path to restoring the American Dream to the working class begins with antitrust and anti-fraud enforcement.

Antitrust should start with the media. Local broadcasting must return to local control. I remember when George Romney admitted being brainwashed on my local station, and that was before Fox News. It's time to restore the fairness doctrine at the FCC so that big money interests cannot monopolize the airwaves. Of course, the first step in any real fix is to win the next election and those after it. The Constitution is a recipe for good government. It's up to the people to follow it, but how many voters could pass the citizenship civics test?

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Maxine Hunter's avatar

Your words motivate and keep me focused. So true that Trump is dangerous for what he reveals about us. That is sobering when you reflect on it. Not where I want to be. Thank you Trygve for saying like it is. Take care.

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