Richard Branson: 'Capitalism has lost its way' | Business | The Guardian Capitalism has "lost its way" and financial profit should no longer be the main driving force behind big business, says Richard Branson, the Virgin Group founder who bought the formerly nationalised bank Northern Rock. Branson makes the assertion in the foreword of his book, Screw Business As Usual. In it, he says he wants to reflect "a vibrant and marked sea change from the way business always used to be done, when financial profit was the only driving force". At the book's press launch in London earlier in the week, Branson said: "This may not be a popular statement at the moment so please bear with me. "I truly believe that capitalism was created to help people live better lives, but sadly over the years it has lost its way a bit. The short-term focus on profit has driven most businesses to forget about the important long-term role they have in taking care of people and the planet." Branson also offered words of sympathy for the Occupy protesters. "Rightly so, people all over the world are no longer accepting this short-term approach [to profit] and are demanding that business as usual changes," he said. Writing in the Guardian Work section, Branson outlines his vision in which he urges businesses to transform themselves along ethical principles.
Says the man who will fly the uber rich into space if they are willing to pay enough and has profited handsomely from the status quo of capitalism for some time now. Hypocritical bullshit.
Capitalism hasn't lost it's way. Not at all. It's proceeding according to a very well laid out plan as to how the rich can accrue a greater sum of our overall wealth and continue to maintain it's strangle hold on the American people. The problem is, we've lost a way to keep it check.
[quote name='"NefariousBredd"']Capitalism hasn't lost it's way. Not at all. It's proceeding according to a very well laid out plan as to how the rich can accrue a greater sum of our overall wealth and continue to maintain it's strangle hold on the American people. The problem is, we've lost a way to keep it check.[/quote] "Too right mate" - SAS. COD4
[quote name='"NefariousBredd"'] The problem is, we've lost a way to keep it check.[/quote] Id say the problem is more that we've allowed corporations to gain control of the gov't and they push whatever regs through that consolidate power and wealth into their hands. Just look at what happened when California allowed energy companies to write create the system of the energy market...they made it purposely so they could game it. That is corporate cronyism and is the real problem...not capitalism.
Personally, I believe any system that requires unlimited growth and depends upon finite resources to be a scam right out of the gate. Pyramid and Ponzi are two terms that come to mind. It's great for the early adopters. Not so much for anyone else. Capitalism was flawed from the start, with the deck being heavily stacked in favor of the elite. It will only continue to get worse.
Don't know that this has to do with legalization, Branson's beef has to do more with Crony Capitalism, rather than actual capitalism. People here seem to think that the shit that we're in is the fault of capitalism, it's not. No free-market supporter in his right mind would support this copporatist system that we have.