Modern American Capitalism

I recently came across an editorial written in Life Magazine by its Conservative publisher, Henry Luce. Mr. Luce hated liberals,he hated Socialists,and he loved American capitalism. In the editorial, Luce argued that modern capitalism was based on the principle that a businessman had a responsibility to “redistribute” income so that workers were paid good wages. Luce argued that if workers had a good income, they would purchase goods and every capitalist would benefit. In his view, a selfish businessman who gathered higher and higher income without also sharing profits with workers, was damaging the economy, and violating the principles of modern capitalism.

Believe it or Not, but we have such a modern believer in capitalism and his name is Howard Schultz, CEO of Starbucks. Starbucks already provides health insurance to those who work twenty hours a week. He now is offering all workers, an opportunity to pursue an online college degree with Arizona State University. Starbucks will pick up the check. And, after completion of the degree, a worker can go where he desires.

This type of talk will get one on the list of Socialists. It makes one wonder what they put in the coffee at Starbucks!