Susan Lee Schwartz
Sep 1, 2018 · 2 min read

MEDIUM WRITER Umair Haque wrote a great article on PREDITORY CAPITALISM…https://eand.co/the-economys-not-booming-predatory-capitalism-s-eating-itself-a1663d94498e that explains the confusion with the word ‘capitalism’. “The economy isn’t booming. Predatory capitalism is eating itself. The result is fascism — by way of authoritarianism, kleptocracy, theocracy, all the ills known to humankind.”

“The reason that crackpot American theories of economics are wrong is that they presume capitalism is the answer to everything. More jobs? Wages must rise! Hey presto! The economy fixes itself. Supply and demand, my dude — go capitalism!! But wait — what happens if those jobs are, well, not very good ones, because corporations don’t really have to compete, because its made of gigantic monopolies now, not mom-and-pop soda shoppes? If instead of being something more like stable middle class careers, with upward mobility, benefits, retirements, security, stability, meaning, belonging, and so forth, they are something more like jobs only in name — in reality, hollowed out? What happens if all that’s left in a “job” is the chance to work harder and harder every year, for shrinking income, opportunity, savings, a declining quality of life?”

As for me, I simply grasp that “Market-based Capitalism” is NOT what capitalism is all about. Turning HEALTH CARE into a MARKET, made big ‘pharma’ and insurance companies rich and left WE THE PEOPLE with little access to healthcare, and big bills.

Now, hidden from the people, is the privitzation of our education system, so that hedge funds are making out like the bandits they are, and the scionsof the privileged get to go to great schools they can afford, but WE THE PEOPLE see public education demolished as funidn is withdrawn and propaganda blames those ‘lazy’ teachers for the decline.See Laura Chapman’s explanation of how this is being accomplished :https://dianeravitch.net/2018/08/31/laura-chapman-in-search-of-the-tentacles-of-the-privatization-movement/ or read Leonie Haimson, who has a warning for the parents and educators of Oakland: Watch out Oakland! The Gates Foundation gave the City Fund $10 M to privatize what’s left of your public schools https://www.gatesfoundation.org/How-We-Work/Quick-Links/Grants-Database/Grants/2018/07/OPP1191868

‘Predatory capitalism’ when coupled with the tax laws, allow the profits of companies to be sent into offshore accounts; even when this new tax bill allowed the profits to be returned, the companies did not put the money into creating new products that might mean hiring new people. The money was used to buy back stock, and for CEO’s pay , which is often 270 times that of the workers in their factories.

    Susan Lee Schwartz

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