Can capitalism reform itself? History says it won’t. Leading economist says, it must. Philip Kotler author of Marketing Management, a major textbook in Business Schools worldwide, says: “Low Wages are bad for the economy. Low wages lead to poverty and inequality,” ––and hello, Mr. and Mrs. Business Owners––“they lead to over production, declining investment and low economic growth.” Kotler says, “Business has to realize that only when prosperous wage earners spend do capitalists earn. Only people who can afford to pay, buy freely.” But business has never reformed on its own. Capitalism has existed for centuries. The only time the economy is great is when consumer demand is great. Without good wages the economy always stagnates. Business knows that is own self-interest lies with good wages, but business cannot overcome greed. Dangling dollars distort reality. Only when people complain through government is business forced to face historical facts. The very thought of reform is fought tooth and nail. Billions are spent by business to sell the public that unregulated capitalism is good for them. Every single talk-show host promoting unregulated capitalism is a multi-millionaire. History shows business will never reform itself. Like a child who won’t let others play with its toys, business requires a parent to redirect misbehavior. When you vote, remember, consumers are the parents of capitalistic behavior. How you vote is who you are as an adult member of society.
Richard Dorsey, Hacienda Heights, CA.