I’m trying to be careful! My intent was/is not to set up a dichotomy. I agree I should be more careful and say something like, “There are very many examples of wealthy business owners (legally) bribing our elected officials to vote in the short term interests of big capital.” Mea culpa.
We have both previously agreed (and you repeat here) that we are of the opinion that the interests of big capital and “the people” align.
I am of the opinion (not wanting to put words in your fingers) that some bad actors on the capital side in the US are making things worse for themselves in the long run by looking only at the short run.
One specific example, “velocity of money” is a major driver of economies. It is my firm belief (and I’m not alone in that belief) that the US economy is suffering because of a lack of said velocity. Bluntly put, too many dollars in too few pockets; sitting in those pockets rather than being recycled through the economy.
Any data of this? My sense, without starting to pull 10K’s, is that it’s the other way around. US business runs at higher profit margins than overseas.
My bad again. We are agreeing, I just forgot to mention that I’m a US ex-pat in the EU (~25 years). We do a majority of our business outside the US. I worked in the US before emigrating, was a partner in a US business after moving here, and several of our larger business partners are based in the US. Plus I’m still a US citizen who has to file taxes every year, so out of interest and necessity I’m rather up to date on US business and laws, and their comparison to the EU.
Over the last 40+ years I’ve read about, watched and personally experienced from both sides of the pond the difference between US style capitalism and EU style social democracy, and also how they are diverging as the decades pass, as a citizen/resident and employee/employer/contractor/business owner.
US business are in general more profitable than their EU counterparts. I don’t have experience or data regarding other parts of the world (i.e. Asia, Africa)