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Capitalism and Democracy are compatible, as long as the Capitalists are regulated carefully so that the Public interest is served, according to the policy of "the greatest good for the greatest number, with basic rights for all.
GOVERNMENT REGULATION IS A GOOD THING, A NECESSARY THING, TO KEEP CORPORATIONS ON A LEASH, NOT RUNNING LOOSE, UNRESTRAINED BY ANYTHING. THIS IS WHAT GOVERNMENT IS FOR!These are not new problems. We have faced them before, about a hundred years ago, and we solved them then, largely under leadership of President Theodore Roosevelt. But now they have re-emerged in new forms, under the permissive, look-the-other-way eye of the Republican party.
President Theodore Roosevelt wrote these words almost a hundred years ago, They applied then, and they still apply today.
"I hold that a corporation does ill if it seeks profit in restricting production and then by extorting high prices from the community by reason of the scarcity of the product; through adulterating, lyingly advertising, or over-driving the help; or replacing men workers with children; or by rebates; or in any illegal or improper manner driving competitors out of its way; or seeking to achieve monopoly by illegal or unethical treatment of its competitors, or in any shape or way offending against the moral law either in connection with the public or with its employees or with its rivals. Any corporation which seeks its profit in such fashion is acting badly. It is, in fact, a conspiracy against the public welfare which the Government should use all its powers to suppress.
"If, on the other hand, a corporation seeks profit solely by increasing its products through eliminating waste, improving its processes, utilizing its by-products, installing better machines, raising wages in the effort to secure more efficient help, introducing the principle of coöperation and mutual benefit, dealing fairly with labor unions, setting its face against the underpayment of women and the employment of children; in a word, treating the public fairly and its rivals fairly: then such a corporation is behaving well. It is an instrumentality of civilization operating to promote abundance by cheapening the cost of living so as to improve conditions everywhere throughout the whole community."
Source: Autobiography of Theodore Roosevelt
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