I was reading an article in the March 30 Newsweek called “Don't Let the 'Big Men' Win,” by Michael Kazin. It gave a little history lesson of the Great Depression and talked about the AIG bonuses and how they could be a threat to capitalism. It was wrong for them to use the money that way but I do not think the bonuses are a threat to capitalism. Companies can do whatever they want with their money because in a capitalist system, the government doesn’t get involved. The threat to capitalism isn’t the bonuses; it is the government giving out money to companies in the first place.
I have been reading about the current situation with GM. Basically, they were given billions of dollars and Obama had the CEO, Rick Wagoner, resign. Now, Obama is developing a plan for GM on how to save their company. Stuff like this is the real threat to capitalism. The government came in and took total control. This is socialism.
The Newsweek talked about Dorothea Lange’s picture of a sign saying, “THIS IS YOUR COUNTRY. DON'T LET THE BIG MEN TAKE IT AWAY FROM YOU.” The biggest man, President Obama, is taking our country’s capitalist system away. I think it is wrong that the government is intervening so much.
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Government intervention can only do so much to help...I feel that sometimes it is useless because it may or may not fix the problem.
ReplyDeleteThe government's actions certainly have socialistic elements, but these bonuses are not a threat to capitalism.
ReplyDeleteThe big men that are destroying the basics of our country is not the President and his cabinent but the CEO's of the troubled corporations. These companies are turning the markets into their own little empire.
I don't really like Obama that much, but he is cushioning us from the strains and sufferings caused by the greedy CEO's.