LORDO
One of the reasons why it does not work is the fact that Capitalism stops anything against its own interest. Perhaps what is needed is its wings to be clipped.
With that statement I can agree!
It needs a re-think as to how it is applied. The current system has all the benefits going to the capitalist! I AM in favour of capitalism as it is incentive driven (at least in principal) ..... the harder you work, the better the idea, the more effort you put into it, then the greater the reward. Seems a sensible enough philosophy?
Where current capitalism goes wrong (IMO) is that once you reach the limits of your own ability, you then employ others. You are then exploiting their abilities to feather YOUR nest often without them getting a proper reward on the same basis as the capitalist gets theirs. Their efforts increases the business owners wealth and this so often becomes exploitation.
So why not a self regulating capitalism?
Obviously this is an off-the-cuff idea but let us assume you start as a one-man-band? You work your socks off for 24 hours a day, seven days a week? It is quite reasonable that you deserve to keep all you make. My suggestion would be that your reward should be ‘calculated’ !
You get a salary as the owner, you get dividends as the only share holder and you get a bonus as the only employee. Whatever you make is still ALL yours.
Now you take on an employee to increase your wealth making capacity!
You get a salary as the owner but limited to say 5 times the average of all employees. After paying the salaries and covering the running costs what is left is PROFIT.
So you split the profit into ........ 33% to the owner, 33% shared between the share holder(s) and the remaining 33% shared between the two employees.
As the owner you get 33% of the profits, as the only share holder you get another 33% but as one of two employees you get only half of the remaining 33%, the other half goes to your employee.
The employee will work harder and, if he/she is well rewarded, they will increase your overall profits. If the employee then knows the harder he works, the bigger the profits and the more he earns the harder he will work not just for you but for your mutual benefit.
The more employees you have the greater the profits and the knowledge of that will ensure you do not employ people who are under productive and it will be your existing employees that will ensure that doesn’t happen, as a ‘bad-apple’ or unnecessary employees doing a non-job will reduce their income as well as yours.
To me that seems like CAPITALISM FOR ALL that, if properly legislated, will be of benefit to all those that work for the owner without abandoning the concept of capitalism. It also stops the exploitation of the employees by ruthless self serving employers and eliminates strikes led by Unions. The stability in industry means everybody wins in the long run?