As a veteran Congressional lobbyist once observed, legislators “would like to do the right thing, if only they can get away with it.” But legislators must please their donors, or risk losing their financial support in the next election. That sad fact was starkly demonstrated in November, 2017, in the weeks before the vote approving the tax cut bill.
Can we establish a substantial organization—a GLIA—that cares about the needs of ordinary people, and has sufficient influence to counterbalance the powerful government and corporate interests that dominate the world?
by Ted Wachtel Disparity in CEO Compensation Disparity in wealth is evident not only when comparing ordinary people with the billionaire founders and owners of large corporations, but also with the managers of those corporations. The Economic Policy Institute, in a recent research report, revealed that CEO compensation has grown 940% since 1978, while typical […]
Although Ray Dalio, the founder and manager of the largest hedge fund in the world, built a fortune thanks to capitalism, he’s keenly aware that it is a deeply flawed system. “Capitalism basically is not working for the majority of people. That’s just the reality.” Dalio predicts the income gap will only get worse.
by Ted Wachtel Democratic capitalism finds itself facing an ominous challenge. Will democracies throughout the world truly represent all their citizens, or will they continue to favor the wealthy and powerful minority, who can influence elections and government regulations to their own benefit? Will free market capitalism share its gains in productivity with everyone…or not? […]
by Ted Wachtel The Spirit of 1776 —The Twin Pillars of Democratic Capitalism “Governments are instituted among Men, deriving their just powers from the consent of the governed…” Jefferson’s final draft of the Declaration of Independence, published on July 4, 1776, proposed an ideal of democracy that did not exist anywhere in the world, and […]