A “Speak Out” in Friday’s (March 8) Star tells that “Socialism would threaten end of America.” If the only two factors that we look at are socialism or capitalism, we tend to vilify Socialism and sanctify capitalism. The traditional argument to justify capitalism is to say that the market will regulate the system, which is also to say hands-off to any type of regulation.
However, in the late 19th century and early 20th century, corporations began to proliferate, and these monopolies restrict or eliminate competition. So, the enemy, as I see it, is not so much socialism as it is the runaway consolidation of capitalist entities. That is, the greatest attack on American Democracy is from the unregulated, monopolistic enterprises, for these behemoths weaken the competition that is supposed to keep check on unbridled capitalist power. It is Big Money, wielded by Big Corporations, that use the power of concentrated wealth to flood Congress with lobbyists, which undermines the power of the people and their votes.
Capitalism has defined our country. When capitalism properly serves the country and its people, it is capable of great social benefits. However, a self-serving capitalism that feeds on greed for the few and false promises to the many is a pathological form of capitalism, which, I propose, is a greater enemy than socialism.