Sunday, July 8, 2012
In response to Bruce McCaw's letter (U-B July 3) reacting to letters by Norm Osterman: McCaw agrees with Osterman that the state of the economy is bad, that the average citizen has economic difficulties.
But McCaw over-interprets Osterman's criticism of certain actors in the economy as a thoroughgoing condemnation of the American (capitalist) system itself. While there are voices saying just that, Osterman's is not one of them.
No, Osterman's argument allows that existing capitalist political economies, including the United States, are historical creations conditioned by the institutions brought into being by the voters and politicians. These real and existing people have the power to set limits on what is allowed, what is rewarded and what is limited in the interests of the general public.
In such a capitalist system, even the most powerful economic groups and organizations are subject to the will of the wider community. This isn't socialism; just as important, this isn't fascism, either.
The question is: Can we the people hold onto a capitalism that works for all?