The unfortunate layoffs this week of over 200 Bell employees have served as a reminder of how large corporations are able to game the system and take windfall profits off the back of taxpayers while small businesses across the country struggle to keep the lights on. This came hours after the conclusion of Bell’s annual Bell Let’s Talk, a corporate social responsibility campaign aimed at increasing the company’s heart-share among Canadians by encouraging conversations about mental health.
If you’ve read the news in the past couple of weeks, or been keeping up with the memes on social media, you’ll have heard something about Reddit, angry hedge funds, a supposedly dying video game retail company, and all the hot takes that come with these types of events. First, the facts. On the site, the r/WallStreetBets forum went on a hunt for companies with heavy hedge fund bets against them. GameStop, the world’s largest video game retail store, battered by the move to online sales and failed investments into other areas, ended up being the home run.
One of the most fundamental public policy challenges over the past 30-40 years has been the further distancing between the so-called working class and the middle class and what can or should be done by governments in response. The tired socialist response of wealth redistribution, either through government programs or direct monetary transfers, is both counterproductive and ineffectual. So, what is the popular capitalist response to this challenge? First things first – we must acknowledge that there are many definitions of these terms, the key distinction between working and middle class in this column is that the middle class have some degree of capital or equity available to them (often in their home), while the working class does not.
The world needs a better foundation in the benefits of capitalism. Indeed, the principles of the capitalist economic system have been degraded by many in recent years as the world has grappled to make open markets and globalization work. Those in North America have seen reduced opportunity in manufacturing and traditional blue collar sectors
One of the pillars of the popular capitalist model is wider ownership of equity capital. The more people that have a stake in society’s economic growth, the better. Likewise, the more people that believe they will have an opportunity to create wealth in a capitalist society, the better off we all will be. We’ll
Our goal here is to proudly defend the strengths of capitalism, showing why the free market works in our best interests, and can still be harnessed to do even more, and above all discuss the concept of Popular Capitalism. Our intention isn’t to teach Economics 101, but to explore popular capitalism while charting a