With today’s modern education system, we’re trained to believe that business is a bad thing. Now don’t get me wrong here, I’m not one of those crackpot conspiracy theorists who’s saying that the “system is broken” and “they’re feeding us information like lab rats”, however, I still feel like it’s important to call attention to this issue. Like it or not, the way kids are taught to approach today is vastly different than the way they were 50, 40, 20 years ago. How do I know? Look around in the news: it’s everywhere. When a company makes a gain, the people are pissed: “Oh they did this and that, so they should go bankrupt”, “How did this company even get big, it run by a bunch of five year olds”, “You know, the CEO should really just be in jail”. When a company takes a loss, the people are glad: “Serves them right”, “Yeah, show those big-wigs who’s boss”, “any money this company earned was stolen”. What’s the deal with the “big business” hate?
G’Day Mates! Cameron Levengood here, and I’m not trying to make any generalizations here. I just wanted to make a (long) comment on what I feel the world has come to, in terms of this trend in the realm of hate. As a meritocrat, I don’t understand where all this detestfullness comes from. I mean, isn’t capitalism supposed to make things fair? If people like Mark Zuckerberg and Warren Buffet work super hard to get their riches, what’s the problem? The goal of this editorial is going to be to crack down on the cause of this hate, see why people hate those filthy capitalists, and what I think on this issue.
My Best Guess
I did an article a while ago on rich jealousy (that is, the jealousy of rich people), and came to the self-made conclusion the people were afraid, jealous, and hatful of the rich because of their wealth. Seems reasonable, right? I mean, if you make more money in a minute than most will in a year, it is a bit disturbing to imagine what they could do. However, were not talking about people, are we: were talking about companies. Walmart Stores, Exxon Mobil, Royal Dutch Shell, Volkswagen Group, Berkshire Hathaway: all huge ass corporations that pull in hundreds of BILLIONS of dollars every year. If
I had to make my best guess, I’d imagine that the hate of corporations comes directly from the rise of socialism in politics. While in the waiting room for a doctor’s appointment, I read an interesting article from a recent TIME magazine about the death of capitalism, and found that it said that Generation’s Y and Z have disproportionately higher numbers of people who identify as socialist, rather than capitalist, than generation X or W (aka, baby boomers). These numbers directly correlated to a disproportionally high belief in the death of the “American Dream”, in the two most recent generations. For more information, I found a link to the TIME article that goes along with the one that I read.
Statistics show that for America (the country with most of the biggest, Fortune 500 Global enterprises), the tenants of liberalism (that is, the willingness to discard traditional values) seems to be on the rise, and are now beginning to outpace conservatism (the tendency to keep and maintain old values) (source). What does this mean? According to this political quiz (which you need to take to see results) published in part by the Pew Research Center, the views of liberals tend to be in support of socialist policies.
This quiz revealed that the majority of those in the liberal blue spectra believe that the government is wasteful and inefficient, government regulation of business is necessary to protect the public, companies have too much power, companies do not make fair profits, and that hard work is no guarantee of success. Furthermore, this other category breakdown published by the same people shows that the general population of liberals believe that the government unfairly favors the powerful, and that the presence of Wall Street and other financial juggernauts is hurting the economy.
If this is the answer, it would make perfect since, as the idea of huge corporations goes directly against the tenants of socialism, and by extent liberalism, which gives some reason for the hate. The economic practice of socialism revolves around the idea that the public has control of all the economy, means of production, and wealth, whereas in capitalism, the private interests control these factors.
Actual Reasons for the Hate
Of course, my word only goes so far, so what do others have to say on the subject? Financial investment site Investopedia takes an economic perspective on the issue by saying that huge companies stall economic progress by shutting down small business and putting too much focus on their own interests. News site Gallup cites polls and business scandals to show that Americans are becoming increasingly worried about business. The Huffington Post says that big business stunts creativity by forcing beurocracy on the creative process, saying that big businesses are magnets for lazy people. Entries from this thread on question website Quora show that a lot of people believe corporations are hated purely because of what they are: businesses that are treated like organisms, when they are in actuality, machines build for the sole purpose of making money.
Are They Justified?
To a certain degree, I’d have to say so. I think that most of these reasons in the end are still largely unjustified, but in the end, I feel like most of them are subjective.
Sure, economic progress can “slow down” when there is no market competition, but even the biggest business today has competition: Walmart has Target, Volkswagen has GM, and GM has Toyota, and so on and so forth. There are lots of business scandals happening all the time, but more often than not, it seems like most of these are human errors not at the management level, that most of the time, the management spends years working on resolving. For example, if an airbag in a car is defective, the company or the company’s management didn’t cause that, someone on the line did, and if something like money laundering is involved, it is more likely that an individual did it, not the company as a whole. With that said, in any particular instance, there are sure to be hundreds of variables at play, so who is actually to blame, individuals or corporations? If business stunts creativity, then how does the entertainment industry stay afloat? Regardless of your opinions on the modern face of movies and TV, companies don’t make money by turning out old pieces of recycled trash round the clock, and get away with it. Most companies that have tried go bankrupt. Lastly, although businesses may put their agendas first, it’s usually in their best interest to put the general populace second. After all, if the people are incapable of affording the products that the company sells, it’s going to be hard to sell them, which is why I usually find the “big business is a lifeless process” to be a means to an end. The only thing I would call into question are huge government sponsored enterprises, which run on the money of huge economies and don’t need the peoples cash.
What Do I Think?
Do I think that big business is a threat? Not if it’s kept on track.
Once again, as a meritocrat, I happen to think that capitalism is an ok thing. Provided that there are no other factors at play, in its raw form, this economic system was created to give the regular person a chance at fame and fortune. Before its installation as the major economic system of the world, you had feudalism, where the social class you were born into is pretty much where you stayed. There were no banks to give out business loans, no property for sale to start a shop, and pretty much no way to become wealthy unless you saved a nobles life, or something. In my opinion, I feel that so called “big businesses” are alright, provided that the government is still handing out opportunities for those who aren’t as well off to succeed.
So, In Short
In the modern day, there is a growing hatred for the practice of big business. This is largely in part due to increasingly higher education standards which has lead an increasingly large demographic of socialists and liberals to challenge the concept. Many believe that big business is a threat to the American way of life, but I believe that, under the right conditions, it shows just what the American way of life is capable of building, provided that the government still has a vested interest in keeping corporate competition high to stop monopolies.
Is big business good? Yes, I believe so.
Thanks for reading everyone! Did you like the conclusion I came to at the end? If so, please leave me a big, fat, juicy like so I know that you care! If you want to leave a comment you can do that to, whether you want to do it here, or on my social media profiles (linked at the bottom).Once again, thanks for reading. Don’t touch that dial, because there are more articles to come!
Last: Post: EU4 - Review
Doomsday Clock - Cam Reacts!
Abortion (for and against)
Anacyclosis in Modern Politics – Society Smash
The Schafer Web-Log
Articles, Reviews, Futurism, Current Events, and More!