Joe Kennedy says Democrats should embrace 'moral capitalism'

[mia]

US Representative Joe Kennedy is urging his fellow Democrats to adopt a new economic ideology — what he’s calling ‘‘moral capitalism’’ — as they prepare to take control of the House in January.

Kennedy said the push is a rebuke to what he describes as the ‘‘trickle-down, feed-the-top, if-you’re-struggling-try-harder narrative’’ of conservatives.

It’s 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 can’t grow unless your food stamps go. Your medical bills can’t 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:

Days after General Motors announced massive layoffs in Detroit, Joe Kennedy III took to the floor of Congress to speak on the growing struggles for American workers in Trump's America.

[agingdem]

1. in other words

don't be a Republican

[mia]

2. More words...

Kennedy, without naming names, also chided the extremes on the liberal end of the political spectrum, which he said have failed to effectively counter Trump’s zero-sum game world view.

‘‘For years, the left has failed to offer a competing — compelling — economic vision,’’ Kennedy said. ‘‘We’ll have to do more than tax the rich to meet our needs in infrastructure, childcare, health care, college and climate change.’’

[JonLP24]

3. I think Keynesian economics have worked out fine in the pass

I never heard of moral capitalism when I took economics.

[Donkees]

5. This sounds like Senator Sanders speeches on the "Moral Economy"

[blitzen]

6. Check out "The New Capitalist Manifesto" by Umair Haque

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 isn’t just a severe recession. It’s evidence that our economic institutions are obsolete—a 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” value—gains that are largely illusory and produce diminishing returns every year.

For “thick” value—enduring, meaningful, sustainable advantage that deeply benefits the larger society—Haque details five new cornerstones of prosperity in the twenty-first century."

[mia]

7. Moral Capitalism -

The world is drifting without a clear plan for its economic development. Communism is dead, but in the wake of Enron and similar scandals, many see capitalism as amoral and too easily abused. A blueprint for progress is needed and Moral Capitalism provides one.

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.

Excerpt. © Reprinted by permission. All rights reserved.
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]

4. "moral capitalism"?? Is that like "humanitarian bombs"??

[mia]

8. More like enlightened self-interest

[manor321]

9. This is awesome

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.