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Reply #46: We don't live in a capitalist economy - we live in a regulated capitalist economy [View All]

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aint_no_life_nowhere Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-18-08 02:06 PM
Response to Reply #16
46. We don't live in a capitalist economy - we live in a regulated capitalist economy
Edited on Fri Jan-18-08 02:15 PM by aint_no_life_nowhere
Social concerns regulate corporations all the time. Just because they are privately owned doesn't mean that corporations get to do whatever they want. If you make pharmaceutical drugs, you can't just sell any poison and lie to the people about its effectiveness or the FDA will put the corporate executives in prison. If you build a car, you have to satisfy the government and the people who elect the government that the car is safe and meets certain environmental standards. If you run a power plant, build a housing development, or erect a skyscraper, you have to meet many government regulations that exist to protect society. Unfortunately, under Ronald Reagan and the Bushes, corporate media has been more and more deregulated and the FCC has more and more abandoned its role as the people's watchdog and caretaker and instead given free rein to whatever the CEOs of giant corporations want to do. It doesn't have to be that way under a new President and I hope that whoever assumes office will declare war on the giant media enterprises through the FCC. It has already been determined that the FCC can decide how much ownership one corporation can have in any medium. The rules used to be much stricter but were opened wide under Reagan and Bush. I know that cracking down by the FCC on the mega-owners would be hard to do, as the media would make the life of the President who did that very tough. Fortunately, there's the Internet.
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