Biden made a revolutionary statement on behalf of the American people when he said that capitalism without competition is exploitation.
Video of President Biden:
Biden said, “Industries are dominated by a few giant companies that control the market they operate in. Over the years, this domination of the market by a smaller number of companies, four in the meatpacking area, has reduced competition, squeezed out small businesses and farmers, and in many cases increased prices for consumers. I’m a capitalist but capitalism without competition is not capitalism. It is exploitation. I will do everything in my power to work with the congress to have lower prices for consumers, and they will still do well, but that won’t be enough.”
Democrats Believe In The Free Market
For years, Republicans have been attempting to label Democrats as socialists while they defend monopolistic behavior by some of the largest corporations in America.
Democrats believe in capitalism and the free market. A free market for labor helps American workers in the wages that they deserve. A free market is great for consumers because competition provides choices and lowers prices.
In the current American political landscape, it is Democrats who are defending democracy and capitalism.
Joe Biden’s Statement Was Revolutionary
For decades presidents of both parties have delivered the standard lines about supporting capitalism while staying mostly away from any high profile comments about the corporate consolidation that is destroying competitive markets in the United States.
President Biden put his finger on one of the biggest problems in the American economic system, and that is a lack of competition and the ability of the biggest corporations to dominate their markets and suffocate innovation and competition.
Biden is a capitalist warrior who will take on the anti-free market behavior of big corporate America.
Mr. Easley is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association