In the short term we can’t eliminate private corporations, but we can bring them under greater democratic control. The government could use regulations and tax incentives to encourage companies to act in the public interest and outlaw destructive activities such as exporting jobs to low-wage countries and polluting our environment. Public pressure can also have a critical role to play in the struggle to hold corporations accountable. Most of all, socialists look to unions to make private business more accountable.
Now guess what happened? Those fast food restaurants are replacing workers with kiosks, yes kiosks. as well as sophisticated food preparation machines.
So now, the workers have lost their jobs and those evil corporations are still there making even more profits.
Also in Seattle the same thing is happening, Seattle restaurants are closing and or leaving the city. So that means more people are losing their jobs….
So now we have to pay those "displaced " workers with some type of govt aid, called Socialism, which has to burden tax payers even more>>>>
Yeah this system works very well….straight from Pandora’s box.
Oh and by the way Reebok will replace ALL of its workers with Robots by mid 2017….I guess they are afraid of facing social justice…
Well done Socialist well done, another abysmal failure you can put in your cap!
Perhaps an alternative could be by instituting far-reaching guest worker programs, such that many foreigners could work domestically where working conditions can be more closely regulated?
Anyway, as an econ student I think the government’s job is to internalize externalities. So if a private behavior incurs a cost on others which is not borne by the acting firm, then the government should enact regulations such that the firm does bear those social costs. IE, the private cost of burning coal is just the cost of buying the coal and setting up the infrastructure. But an external cost exists in the form of healthcare costs due to pollution, the monetary costs of any environmental damage, as well as property damage and other damage due to the resultant climate change. Ideally the government could institute regulations such that the private costs increase for the firm to match these social costs. That way, the firm would only engage in such an action if the benefits to society were greater than the costs to society as a whole.
If not the government then who should place regulations on corporations? What entity could propose and enforce something like Glass Steagall? What entity could break up—pre-Sherman Act—large corporations working towards monopoly?
I’m curious to know how corporations are controlled and consumers are protected in your perfect world.