Capitalism
The 2022 Inflation Reduction Act introduced modest drug pricing restrictions. In response, big pharma companies — which have seen record profits — are threatening to slow the rollout of a lifesaving drug. A Swiss pharmaceutical company announced this month that it could slow-walk bringing a potentially lifesaving drug to market — in order to reduce
Capitalism
THEORY • February 6, 2022 • Michael A. Lebowitz We must put an end to capitalism. To do that, we must know the enemy – capital. We will never defeat that enemy if we do not understand it – its effects, its strengths and weaknesses. If, for example, we don’t know capital as our enemy, then crises
Capitalism
Democratic socialists see the point of socialism as extending democracy from politics to the economy. Defenders of capitalism sometimes push back against this by saying that the masses of ordinary people already control production — through the “price signals” they send through their consumer choices. Libertarian writers Milton and Rose Friedman famously argued in their book Free to
Capitalism
apitalism leads to tremendous amounts of poverty, economic inequality, and financial stress. It disempowers the vast majority of the working-age population, who have no realistic choice except to spend half of their waking hours at workplaces where they take orders from unelected bosses. Outside of the workplace, decisions with major impact on society as a
Capitalism
It was always somewhat absurd to celebrate large corporate enterprises for embracing the language of social justice. Many big companies discriminate and treat their workers poorly, whatever superficial inclusionist rhetoric their PR departments like to spout — to say nothing of how many union bust and contribute to climate change. Such enterprises are, by definition,
Capitalism
A new congressional report commissioned by Bernie Sanders finds that the 1 percent now own one-third of all wealth, while the bottom half of Americans hold only 2 percent. It’s another sign of the slide into oligarchy that Sanders has warned about for years. Last summer, Bernie Sanders’s YouTube channel released a short clip entitled simply “Oligarchy