The problem with capitalism

NationalPost.com – FullComment/Letters – Re: Apple: Brought To You By Wall Street, Terence Corcoran, Oct 7.
Oct 8, 2011.    Paul Russell

By opportunistically trundling out Apple as a glowing proxy for corporate America, Terence Corcoran vastly oversimplifies the systemic problems facing capitalism.

Does Mr. Corcoran really believe that the Wall Street protesters are calling for the capitalism’s downfall? Quite the opposite — they are calling for action to fix the obvious and growing problems with our economic system. If the protesters’ demands seem unfocused and vague, it’s because the problems facing the United States and the world are too complex and varied to sum up in a single slogan.

They rightly see that capitalism has been manipulated by the powerful and is increasingly unfair for the working and middle class. It is losing its ability to reward hard work and ingenuity such as that displayed by Steve Jobs. As a result, capitalism is becoming dangerously unstable.

Mr. Corcoran’s simplistic argument defending the status quo does nothing to move us closer to solutions.

Tim Abraham, Toronto.

< http://fullcomment.nationalpost.com/2011/10/08/todays-letters-the-problem-with-capitalism/ >

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