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Letter to the editor: Not capitalism or socialism, but 'regulated capitalism'

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Posted on October 8, 2018 |
By Van Talmage



Let me take Dave Sharpe’s excellent points in his Sept. 24 guest editorial to a more general level. The political battle is often presented as Capitalism vs. Socialism, but as Mr. Sharpe points out there are very valid regulations that are checks on Capitalism and are certainly not Socialism. There is a middle ground of regulated capitalism.

In our minds we have to distinguish between free enterprise and unfettered capitalism. Capitalism, if left completely on its own, leads to huge inequalities and behaviors that seem to exploit workers (wages so low that public assistance is needed to help feed people).

However, free enterprise, the ability to raise capital and have monetary incentives, is to be treasured for the liberty, the sense of adventure, the innovation, the rising of living standards, and a host of other reasons. The problem with capitalism is that the major corporations that have gotten so large and powerful. And capitalism is geared to moving money to a few people and to disregard concerns of the populace at large. Profits over everything else.

The answer is some sort of regulated capitalism. The answer is self-government (democracy) wherein the common good is of more value than individual interest. Capitalism yes, free enterprise yes, but concern for the overall outcomes and willingness to use government to help regulate some of the abuses.

We the people should be more powerful than the corporations. Therefore regulated capitalism.

Van Talmage

Lincoln

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