The other night I watched The Greatest Cable News Program That Absolutely Ever Was. The host was extolling the virtues of capitalism, repeating the claims you can read in The Economist or Wall Street Journal; that capitalism has lifted many millions out of poverty worldwide.
The same broadcast also reported that most Americans “could not lay their hands on $1,000” in an emergency. That figure may be on the high side. Other published reports put it at $400, including what may be available on a credit card.
The program host missed the contradiction. You can’t be a capitalist without capital. The overwhelming majority of Americans don’t have any, and are completely excluded from the “benefits” of the capitalist system he extolled.
Capitalism is not a form of government. It is a system of wealth management. It does not create wealth, but only allocates it. It is indifferent to the welfare of people. It has no social purpose. Private profit is everything.
“Jim Hightower: Is Populism Different than Progressivism?”
Conversations with Great Minds / Part One
Michael Winship, Writers Guild of America East/BillMoyers.com joins Thom. A lot of people haven’t seen a candidate like Donald Trump in their lifetimes. But if you’re old enough to remember the election of 1968 – you probably remember one third party candidate who sounded eerily like Donald Trump.