Posts Tagged ‘Capitalism’

Creative Destruction Should be a Two-Way Street

Monday, May 21st, 2012

Inspired by Capitalism on Trial (Robert Samuelson 5/21 A17). As Samuelson points out, corporate profits are already 20% over their pre-recession 2006 peak. Employment levels, while up 3.7 million from its low, is still 5 million below the previous high.

 

“If we lost, they made money. If we survived, they made money.” – fired worker featured in PrioritiesUSA Bain ad

 

American workers might not mind creative destruction so much

If the wealthy on paying the price would occasionally go Dutch.

 

But for some reason the way “creative destruction” is into reality translated

Is that it’s always wealth and profits for the rich that are being created.

 

And the “destruction” always hit the employed,

With jobs and workers’ rights being destroyed.

 

The concept of “creative destruction” would be a little more complete

If it wasn’t such a one-way street.

 

And the fact that Mitt thinks everything’s just fine?

For the 99%, that’s a bad sign.

***

Here’s Nick Hanauer’s now-viral video on the Job Creator myth that underlies GOP economic theory and justifies their case for allowing (and even promoting greater) income inequality.

 

Here’s PrioritiesUSA’s new Bain ad.

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