Cumberland Times-News

Letters

November 5, 2013

Unregulated capitalism is not embedded in our constitution

If this newspaper would allow the space I could cite statistics and economists that would debunk David Kiriazis and his right-wing theories (“This is how it really works,” Sept. 29; “Reader provides answers about economics,” Nov. 3).

In return he could continue to cherry-pick his economic data and cite his favorite conservative economists and the general public would be no more informed about the subject than day one.

The central question in the back and forth between R. Steele Selby (“Minimum wage hike would be beneficial,” Sept. 24; “Where does value end and selfish greed begin?” Oct. 22) and him is whether the minimum wage should be raised and the basic response should be whether we as a nation can allow our citizens to labor in private industry for wages that do not support a basic standard of living.

Unregulated capitalism is not embedded in our constitution; it violates the moral principles of our religious heritage; it thrives on a survival of the fittest motif that leaves the majority of American adults living paycheck to paycheck and it is not conducive to the economic well-being of this nation.

We do not have to accept this. In an age when our home-grown corporations have no loyalty to this country and our nation’s major bankers have a proven track record of trying to scam the American people, our public outrage could throw out the bums in Washington, restore many of the common sense regulations that would rein in such wanton greed and bring dignity, security and living wages to all Americans.

Next time you go to Wal-Mart remember that Sam Walton’s children have more wealth than 150 million of our fellow citizens and you, the taxpayer, are paying for food stamps, free or reduced school lunches and Medicaid that their underpaid workers depend on to get by.

William Tunney

Bel Air

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