Capitalism

For the most part, we extol the value of capitalism and all the companies that are part of it.  Capitalism allows us to pay for our social programs, continue medical research and development, and create programs that will result in this country becoming wealthier than it already is.

YES...  it does create billionaires

YES...  there is a pay gap between management and labor

YES...  there are some corrupt CEOs who care only about their financial growth

YES...  companies make decisions based upon feedback from stockholders which are not always in the best interest of the company or the employees

While those problems are manageable and regulated (to some degree), the biggest problem with Capitalism are BUYOUTS...

What do I mean by that?

BUYOUTS is when a large company decides it want to buy another company.  It could be because that company is in financial trouble or it could be because that company has a lot of cash on hand.

Years ago, there were several large companies that wanted to buy BURLINGTON INDUSTRIES.  As soon as the company was sold, the new owners sold all the divisions of the company to other companies because all they wanted was BI's blue jean division.

What was the end result?

When one company buys another company, there are many jobs that are duplicated, so there is no need to keep both jobs...  so, they layoff people from the company that was purchased.  It also possible that the purchasing company would rather have its people work at the company than those people who were working at the purchased company.  Consequently, more layoffs.

Burlington Industries had over 5,000 employees and 80% of those employees were layoff.  Without that income, families lost their homes, there was divorce, and the community lost the economic impact of wages being spent in the local economy.

Additionally, small stores like beauty salons, flower shops, gas stations, grocery stores, shoe stores, hardware stores, etc., had to also close their doors because of all the lost revenue.

Burlington Industries was located in the city of Burlington, North Carolina and that community was forever changed when BI was purchased.

I am not saying that there is a system out there that should replace Capitalism, but that Capitalism does have its flaws and those flaws should be recognized.