Portal:Capitalism/Selected quote/45

“ Here are what I consider to be the fourteen serious shortcomings of capitalism that need to be addressed and remedied to whatever extent possible. I believe that capitalism:

1.Proposes little or no solution to persisting poverty

2.Generates a growing level of income and wealth inequality

3.Fails to pay a living wage to billions of workers

4.May not provide enough human jobs in face of growing automation

5.Doesn't charge businesses with the full social costs of their activities

6.Exploits the environment and natural resources in the absence of regulation

7.Creates businesses cycles and economic instability

8.Emphasizes individualism and self-interest at the expense of community and the commons

9.Encourages high consumer debt and leads to a growing financially driven rather than producer-driven economy

10.Lets politicians and business interests collaborate to subvert the economic interests of the majority of citizens

11.Favors short-run profit planning over long-run investment planning

12.Should have regulations regarding product quality, safety, truth in advertising, and anticompetitive behavior

13.Tends to focus narrowly on GDP growth

14.Needs to bring social values and happiness into the market equation

” — Philip Kotler (1931)
Confronting Capitalism , 2015