The era of capitalism that was ushered in by Ronald Reagan in 1981 is now drawing to a close. The happy Republican leader was always ready with another story about “welfare cheats” who lived off government handouts or how people on welfare became lazy, but rarely, if ever, did Ronald Reagan ever discuss greedy and self centered leaders of industry and the finance world. Reagan, Libertarians, and Ron Paul supporters have been claiming for nearly three decades that “government” was the problem, not financial leaders or captains of industry. They have assured the American people once all government regulation is ended the United States would witness a tremendous growth in wealth that benefits both rich and poor.
The Reagan-Ron Paul belief in ending regulation in order to create prosperity was a fairy tale, one told by idiots, full of sound and fury and signifying nothing but a pack of lies. Yesterday, the American people lost over $1 Trillion due to the stock market decline, but it is doubtful if the financial manipulators who created the current mess will actually suffer financially. An open unregulated market is like fool’s gold, it looks nice on the outside, but once in close proximity, the ugliness and brutality surface and one is confronted by a giant shell game in which those who are in power will invariably win.
It is time to reconstitute capitalism to ensure close government regulation of the market. It is time to institute salary limits such as forbidding CEOs from earning more than 70 times the average wage in their industry. It is time for national health insurance paid for by the government. It is time for a minimum wage that really allows those on the bottom to earn decent wages so they can purchase goods and stimulate the economy. It is time to make unionization possible because unions always raise salaries and thus put more money into circulation in purchasing goods, not stocks. It is time for equity for women and other groups presently damaged by wage discrimination.
The United States government is becoming involved in ownership of businesses and homes. Perhaps, it is time to explore how such a situation can benefit the economy and marketplace.