In recent decades, there has been a global phenomenon of the superrich getting richer while the middle class shrinks. This is a danger not only to our economy, but to democracy itself.
Unfortunately, while millions of people have lost their livelihood during the Covid-19 pandemic, the richest of the superrich have seen their assets balloon.
While it would be easy to categorize the rich as bloodsucking parasites void of ethics, this is simply not true. There is a group in the United States, for example, called The Patriotic Millionaires. Their mission “…is to build a more stable, prosperous, and inclusive nation by promoting public policies based on the ‘first principles’ of equal political representation, a guaranteed living wage for all working citizens, and a fair tax system.”
It simply makes sense to have a strong and well-educated middle class and a society that cares for its most vulnerable members. In doing so, we maintain an effective workforce and a stable consumer market. It creates a situation where everyone benefits in the long-term.
The problem is that many of the wealthiest people in our world look only for short-term benefits and have used the political system to legalize structures that allow more and more money to flow into the hands of fewer and fewer people. They do not seem to realize that this is unsustainable.
Corporations also use the court system to avoid being held responsible for their mistakes, and they do not seem to be concerned with the long-term consequences of these actions. I experienced this first-hand when I bought a van, not knowing that it had a head-gasket issue. While the manufacturer did improve their engines for later models, they did not take accountability for the fault in earlier vehicles.
I was rather surprised when the automaker refused to cover the repairs on a van maintained at their facilities according to company recommendations, which had been driven under 120,000 kilometres. I was further surprised when they sent a legal expert to Prince George to argue their case in small-claims court. As a person without legal experience, I had no chance against a corporate employee who knew how to use the court system to his advantage.
It also struck me as very strange that an automaker would not realize that as a result of this experience, I would never again feel confident buying one of their vehicles. Judging from the drop in this manufacturer’s share of the North American automobile market over the decades, many other consumers seem to have drawn the same conclusion.
Yet misuse of the court system is nothing new to corporations. How many millions of dollars do they spend defending environmental disasters using the best lawyers money can buy? In essence, we have a legal system that favours the rich and powerful, not a justice system with a sense of ethics.
It is also very interesting to watch the conduct of the wealthy class. They will make large tax-deductible donations to organizations that deal with the fallout of the policies caused by their greed. It would actually be far better for all of us if they simply supported the policies espoused by The Patriotic Millionaires.
Real life is not much different than the world portrayed in the Christmas classic It’s a Wonderful Life. Corporatists are the Mr. Potters of this world, but hopefully there are still enough Bailey Brothers Building and Loans we can do business with.
Mr. Potter’s rent collector points out to him, “One of these days this bright young man is going to be asking George Bailey for a job.”
Corporations have created a structure unsustainable on political, economic, environmental and even spiritual levels.
We still live in a democracy, and it is up to us to support the policies of The Patriotic Millionaires. Capitalism works very well, but it cannot be devoid of ethics.
