We live in a democracy where capitalism is king. Capitalism is based however on a fallacy,
which is: given total freedom, capitalism will regulate itself. That
fallacy is made obvious by the recent financial crisis. This
administration has taken deregulation to the point that no one is
watching out for the people. When banking (insurance, oil, energy,
investment/securities etc.) have no accountability then greed wins out. Greed is powerful force and that is why regulation is necessary. Capitalism must be regulated or greed wins every time.
Let me propose another idea as a guiding force for the way we do business. Capitalism is too easily run by greed so why not try Campassionism. There is no such term but that doesn’t stop us from inventing it. Compassionism is about making economic decisions based on the impact it has on people and the planet. Profits that benefit the people and the planet such as green products, alternative energy, affordable health care, employee ownership of companies, sustainable businesses and much more would be part of the compassionate economy. Compassion based economies would make giving rather than taking as an important value. Compassionate employers would provide those that work for them with the best possible benefits and wages. Compassion based government would make people the top priority and hunger and homelessness would be eliminated. There would be no wars; no needs for power grabbing in a world based on compassion.
This is kind but radical idea in the present atmosphere of rampant unregulated competition, power hungry leadership and the pursuit of profit at any cost. If people actually returned to their real values this is not a big leap at all. We all value in our hearts: compassion, kindness, the looking out for each other and the joy of a meaningful life. What do you think of this new way of doing commerce in America? If not this, what ideas do you have?
If you have doubts about this proposed bailout plan, search the Web for other points of view. Here is one I find very interesting from an interview on Democracy Now of Congressman Kucinich who is an elected official guided by strong values.
Let's hope this financial crisis inspires the Congress to bring about real and positive change for the good of the people.