A discussion of our current economic structuring

Should it be unfettered capitalism for the masses or real free enterprise?

Rss@dailykos.com (egberto Willies)
Sunday, February 23, 2014, 6:18 pm
.
David Brooks's New York Times piece "Capitalism for the Masses" is a blood-boiler. Macroeconomic math is very simple. There is one mathematical fact. If the wealth of the rich is growing at a consistently higher rate than the rate of the economy's aggregate wealth creation and that rate differential is not completely attributable to sources external to the U.S., then wealth is being transferred from the poor and the middle class to the rich.
.
If one listens to CNBC or reads the Wall Street Journal, the only thing that matters is growth. If a company does not meet growth expectations, its stock is clobbered. When a company has exhausted its growth potential because of product saturation and the inability to expand to other markets a semblance of continued growth is usually attained on the backs of the workers in the form of lower wages, lower benefits, etc. When that cycle is complete, stock collapse followed by either acquisition or some sort of liquidation is likely.
.
David Brooks's article was sort of an ode to the president of the American Enterprise Institute, Arthur Brooks. Arthur Brooks and David Brooks are not related. David Brooks was enamored with Arthur Brooks's rather long essay titled "Be Open-Handed Toward Your Brothers." He intimates that Arthur Brooks is providing tough love to conservatives by suggesting they declare a truce on the social safety net. Yet, the tone and ideology of his essay is still based on pointless fallacies.
.

    The 2008 election marked the return of progressive politics in America. For the first time in 16 years, Democrats won both houses of Congress and the White House. They wasted no time in articulating a progressive agenda they claimed would offset the Great Recession and turn America toward greater fairness and compassion. Lifting up the poor, decreasing inequality, and curbing runaway income gains among the wealthiest Americans ranked high among their stated priorities.