First Blog- Capitalism and Me

When I was born, did I really have the same chance as Paris Hilton at running a financially sound clothing company?  Was I just as likely as George Bush at going to the Harvard Business School?  Do I really have the same opportunities and chances as everyone else?

The answer is simply NO.  This answer has become more and more apparent as America has been hit by the economic crisis.   According to CNN, first quarter filings in 2009 of foreclosures were 803,489.   On the other hand, when JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley went under, they received a bailout of $250 billion (abc.com).   Why does the guy living across the street from you, next to you, or even you not deserve a bailout? 

I am not saying that these banks do not serve any purpose or what would have happened if we did not bail them out.   I am not saying that America when bailing out the bank industry was using any form of socialism or communism (like the Republicans).  If we would have helped everyone, then that would be more like socialism and much better! I am saying that capitalism is not what we need for America. 

I am saying that Michael Moore is right.  As stated previously, democracy is not often thought of as a form for economics.  However, if each individual is to be equal to that of his fellow man, economics must be taken into account.  The United States must allow for the same opportunities and “promote the general welfare” (Preamble of the US Constitution) of its citizens.  As I have noted, I along with so many of my fellow Americans do not have the same opportunities of the richer classes of America.   The Economist notes that “the gap between rich and poor is bigger [in America] than in any other advanced country”.  Therefore, in order for America to have a true democracy it needs  to use  democracy in its economics  and  allow for everyone to have an equal opportunity and  be given the  basic needs of life in order to secure themselves in the  world we live in.