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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsJoe Kennedy says Democrats should embrace 'moral capitalism'
Kennedy said the push is a rebuke to what he describes as the trickle-down, feed-the-top, if-youre-struggling-try-harder narrative of conservatives.
Its a narrative he says President Donald Trump has sharpened to divide Americans, many of whom share similar economic worries despite holding different political views.
His is a country of bitter rivalry between fellow citizens, forced to endlessly spar over the scraps of our system, Kennedy said Monday before a regional business association in Boston. My wages cant grow unless your food stamps go. Your medical bills cant fall unless my insurance gets taken way. So Americans spend their days fighting each other over economic crumbs - while our system quietly hand delivers the entire pie to those at the top.
https://www.bostonglobe.com/metro/2018/11/28/joe-kennedy-says-democrats-should-embrace-moral-capitalism/KLx9TptSdoMpallXxfYjON/story.html
More on Trump's 'crumb economy' in the video below:
agingdem
(7,849 posts)don't be a Republican
For years, the left has failed to offer a competing compelling economic vision, Kennedy said. Well have to do more than tax the rich to meet our needs in infrastructure, childcare, health care, college and climate change.
JonLP24
(29,322 posts)I never heard of moral capitalism when I took economics.
Donkees
(31,392 posts)blitzen
(4,572 posts)It's a fairly decent vision of a progressive capitalism
"Welcome to the worst decade since the Great Depression. Trillions of dollars of financial assets and shareholder value destroyed; worldwide GDP stalled; new jobs vanishingly scarce. But this isnt just a severe recession. Its evidence that our economic institutions are obsoletea set of ideas inherited from the industrial age that no longer work for business, people, society, or the future.
In The New Capitalist Manifesto, economic strategist Umair Haque argues that business as usual has outgrown the old paradigm of short-term growth, competition at all costs, adversarial strategy, and pushing costs onto future generations. These outworn assumptions are good for creating only thin valuegains that are largely illusory and produce diminishing returns every year.
For thick valueenduring, meaningful, sustainable advantage that deeply benefits the larger societyHaque details five new cornerstones of prosperity in the twenty-first century."
mia
(8,360 posts)Moral Capitalism is based on principles developed by the Caux Round Table, an extraordinary international network of top business executives who believe that business can--and must--weigh both profit and principle. Caux Round Table's global chair, Stephen Young, argues that the ethical standards inherent in capitalism have been compromised by cultural values inimical to capitalism's essentially egalitarian, rational spirit, and distorted by the short-sighted dog-eat-dog doctrines of social Darwinism into what he calls brute capitalism. He demonstrates how the Caux Round Table's Seven General Principles for Business can serve as a blueprint for a new moral capitalism, and explores in detail how, if guided by these principles, capitalism is really the only system with the potential to reduce global poverty and tyranny and address the needs and aspirations of individuals, societies, and nations.
IS MORAL CAPITALISM POSSIBLE?
THIS BOOK AFFIRMS that moral capitalism is possible. First, in Chapters 1 through 5, it justifies faith in moral capitalism; then, in chapters 6 through 12, it provides a practical guide for those who want to achieve moral capitalism in their business pursuits and professional undertakings. Finally, in a concluding chapter, it discusses how, in these times, we can cultivate leadership sufficient to build a moral capitalism.
Seeking market profit through business and the professions is honorable and worthy. Based on the ideas and principles set forth in these chapters, I believe that each of us can indeed go to work every day for any business, great or small, feeling genuinely happy and proud of our career commitment....
There is much more to this exerpt. It looks like a good book.
https://www.amazon.com/Moral-Capitalism-Reconciling-Private-Interest/dp/1576752577
retread
(3,762 posts)mia
(8,360 posts)manor321
(3,344 posts)This is what we USED to have in this country, many decades ago, when corporations felt a responsibility to the community they lived in. It was a time when workers flourished.