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Thursday, January 23rd, 2020

Capitalism seen doing ‘more harm than good’ in global survey

Author:     Mark John
Source:     Reuters
Publication Date:     JANUARY 19, 2020 / 9:08 PM
 Link: Capitalism seen doing ‘more harm than good’ in global survey
Stephan:   The growing wealth inequality that is going on around the world, and the greed sickness that capitalism stimulates is, in my view, leading us to inevitable violent social unrest. Here are some of the hard data that leads me to this conclusion. Note that in the U.S. we still believe what Gordon Geeko said, "Greed is good." That is why I think we are headed into a social crisis. It is not that a company or a person cannot make a profit, it is that it has to be done within a first priority of fostering wellbeing.

The national flags of several countries and a flag with the logo of the World Economic Forum (WEF) fly at the roof of the congress center during preparations for the annual WEF meeting in the Swiss Alps resort of Davos, Switzerland January 19, 2020. Credit: Reuters/Denis Balibouse

LONDON  – A majority of people around the world believe capitalism in its current form is doing more harm than good, a survey found ahead of this week’s Davos meeting of business and political leaders. (emphasis added)

This year was the first time the “Edelman Trust Barometer”, which for two decades has polled tens of thousands of people on their trust in core institutions, sought to understand how capitalism itself was viewed.

The study’s authors said that earlier surveys showing a rising sense of inequality prompted them to ask whether citizens were now starting to have more fundamental doubts about the capitalist-based democracies of the West.

“The answer is yes,” David Bersoff, lead researcher on the study produced by U.S. communications company Edelman.

“People are questioning at that level whether […]

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