28 Aug, 2011
5 Reasons Capitalism Has Failed – AlterNet
We live in interesting times. The global economy is splintering. U.S. voters hate all politicians and there’s political unrest throughout the world. The root cause of this turmoil is the failure of the dominant economic paradigm — global corporate capitalism.
The modern world is ruled by multinational corporations and governed by a capitalistic ideology that believes: Corporations are a special breed of people, motivated solely by self-interest. Corporations seek to maximize return on capital by leveraging productivity and paying the least possible amount for taxes and labor. Corporate executives pledge allegiance to their directors and shareholders. The dominant corporate perspective is short term, the current financial quarter, and the dominant corporate ethic is greed, doing whatever it takes to maximize profit.
Five factors are responsible for the failure of global corporate capitalism.
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