Week 9 – How Capitalism Changes Intimacy and Family – Wolff

Wolff speaks about the top 5 companies and the compensation of the CEO’s. On a yearly to weekly scale. Combined they get compensated over 300k a week. The alarming fact is that they also have an increasing pay on a yearly basis. The wealth distribution is a bigger problem than people think. While the rich get richer, the rich hold their cash rather than putting it back into the markets and the economy. The rich continue to hoard their cash and this is not a stimulating act. Bloomberg is predicting that the failing of big companies which will result in a bail out from the government. We are also experiencing deflation. This is the lowering of the price of goods, opposite of inflation. Businesses do not like this because the production for something now will suffer in prices when goods are sold which will lower their earnings. This will also result in people postponing the buying of goods because the customers will wait to buy. Meaning the companies will lower prices again to sell the product, thus deflation increases. The wealth distribution comes down to the current form of capitalism with democracy in which we have in the United States. This allows competition to rule and we know that in business competition is run by the people at top with the most money, thus power. In this country, a man like Bernie Sanders, a known socialist, is ridiculed by the press because people refer to socialist as an evil force. In actuality, socialist views look for a more equal way of living which helps the poor.

I believe that the socialist views go against much of the corporations. Since socialist views give more opportunities and alley ways for the people to actually live a better life, socialism in reality is not all that bad that people make it to be. Socialist views are perceived by people to be a communist/ dictatorship sort of life because of past leaders abusing their power and America steps in to perceive the public as an evil corrupt way, thus the news portrays any socialist as a problem to humanity. This all originates from the big corporations giving money to lobbyists to make the people running for office to essentially work for them. Our system in place is actually much more corrupt than any communist or socialist view. When we change the social  environment to think more socially and less about earnings for corporations, then we will see a change in the economy.