Posts Tagged ‘reform’

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class="post-956 post type-post status-publish format-standard hentry category-corporations category-economic-policy tag-bill-gates tag-capitalism tag-corporate-responsibility tag-elizabeth-warren tag-fareed-zakaria tag-greed tag-james-galbraith tag-joseph-stiglitz tag-michael-porter tag-reform tag-social-capitalism tag-social-responsibility">

A New Kind of Capitalism

February 20th, 2011

“Capitalists have done a remarkably poor job of safeguarding the future of capitalism.” (source)

Capitalism can mean dramatically different things to different people. To a Wall Street executive it means being able to accumulate unimaginable wealth. To big business it may be a competitive game that must be won at all costs, even at the expense to the public interest. To a small businessman with a great idea, it might mean being able to turn his passion into an occupation, and enjoy the freedom of self-employment. To many, it is a system that has increased the standards of living for millions. To its victims, capitalism is a monster whose greed leaves many behind, and even commits great crimes against vulnerable citizens. Which view is correct? All of them.

If by “capitalism” we mean creating markets that meet the needs of the public, allowing the best ideas and products to succeed through demand, then this is a highly democratic system that should be encouraged. If capitalism means “greed is good,” and we should look out for our own self-interest at all costs than this is a very anti-social, destructive philosophy that must be tempered.

According to Mother Jones Magazine, “Just before the market crashed, one Wall Street manager wrote to another, ‘Let’s hope we are all wealthy and retired by the time this house of cards falters.'” This is one small example of how the greedy version of capitalism can lead to untold suffering (market crash, lost retirements, unemployment, etc.).

Over the past two years, as the dust of the Great Recession began to settle, a host of business leaders and prominent economic leaders have started to imagine a new kind of capitalism; one that is responsible, broadly-enjoyed, and sustainable. Below, we have included excerpts from these leaders, including Bill Gates, Michael Porter, Elizabeth Warren, James Galbraith, Joseph Stiglitz, Fareed Zakaria, and others.

There are common themes in their writings, including the need to regulate corporations, balance the interests of the public and private profit, and the need to have a strong social purpose that goes beyond the profit motive.

Keep reading. » Read more: A New Kind of Capitalism

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class="post-240 post type-post status-publish format-standard hentry category-immigration tag-immigration tag-reform tag-stephen-colbert">

Immigration Reform, Now!

October 21st, 2010

Whenever I visit a metropolitan area, I like striking up conversations with the cab drivers. Inevitably, the driver is from some far-away country. I try to guess where by the sound of their accent. I have met drivers from Ghana, Iraq, and Sri Lanka, to name just a few. I ask about their families, their language, what brought them to the U.S., and of course, their politics. I have been amazed at how knowledgeable these foreign-born cab drivers are about U.S. politics. The cab drivers I met can carry on, in their broken English, intelligent conversations about domestic politics and U.S. foreign policy. They seem much more engaged in public policy than most U.S.-born citizens that I know.

What is most interesting to me is how they seem to have a great sense of appreciation and pride for both their country of origin and the United States. For example,  earlier this year, I met a cab driver in Denver who was from Ethiopia. He spoke about his family, and how great it was to live in America. But when I asked him about Ethiopia, he became very animated as he told me all about his country of origin. With great pride he told me, “Ethiopia is the only country in Africa to have never been colonized.” He went on telling me about how empire after empire had tried to conquer Ethiopia, but each time the people of the country had fought back their invaders.

Immigrants are proud of their cultural heritage, but they are also proud of being part of the American Dream. The “Papers Please” law that was passed in Arizona earlier this year brought new attention to the immigration debate. Immigration has also come up in discussions about controlling spending and in the healthcare reform debate. In 2005, Senator Dianne Feinstein said, “We know that people come to this country illegally. They come for many different reasons. Some out of fear of persecution, some for work, all for opportunity…About 50% of the agricultural workforce are illegal workers…With respect to agricultural work, I know that it is extraordinarily difficult, if not impossible, to get Americans to work in agricultural labor.” (Congressional Digest • June 2005 )

The bottom line is that we need immigration reform. We need to find a way for people who are here and working to gain citizenship. Chances are they are being exploited by an employer, and their low wages are harming the labor market for U.S. citizens in those industries. If people have skills and can find work, they should be welcomed. If people are refugees and need our help, they should be allowed in the country to get temporary help. The extreme-Right wing (e.g., Tea Baggers) want Americans to be scared of “illegals”. They want us to see them as a drain on our economy. These perceptions just do not match up with reality. » Read more: Immigration Reform, Now!

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class="post-699 post type-post status-publish format-standard hentry category-healthcare tag-healthcare tag-patient-protectionand-affordable-care-act tag-reform">

Healthcare Reform: Still Confused?

September 23rd, 2010

Are you still confused about what is in the new healthcare bill? Join the club.

This is an excellent short video that explains the new law(i.e., the Patient Protection and Affordable Care Act)

Views on Health Reform Back to an Even Split – Kaiser Slides.

Other great links and resources:

http://healthreform.kff.org/

http://www.healthcare.gov/