‘Capitalism must be regulated’

First he misquotes the piece I wrote, which the Star headlined “Capitalism Delivers Death.”

This is a reply to Roger Pratt’s diatribe on things economic and the NDP (letter to the editor “NDP couldn’t run a coffee shop” Nelson Star, May 29).

First he misquotes the piece I wrote, which the Star headlined “Capitalism Delivers Death.” One word in a sentence can change its whole meaning and that word — which it seems went over the head of Mr. Pratt — was “unfettered.” Capitalism must be regulated. The how is the question. Many like the idea that capitalism should be democratized from the bottom up, by the people, rather from the top down, by government, which can fall prey to wealthy interest groups.

Pratt’s myopic examples of social groups running a business plan into the ground can be countered with many more examples of “right wing” entrepreneurs doing the same. Pratt also seems to have a mad-on for Venezuela. He lingers on the failures of the Bolivar revolution while ignoring their great accomplishments since nationalizing the country’s resources for the use of providing for the nation’s people instead of the profits leaving the country in the pockets of big oil for the maximization of ever increasing accumulations of wealth at any cost to life or life support systems.

A country devalues its currency as a protectionist measure to build up the local economy. This is how the United States built up their industrial base, which they allowed to be squandered away over the last 40 years by the maximum profit seeking under the false guise of “free marketism.”

Pensions should be funded in advance of receiving benefits, like Canada pension is. The BC public sector pension fund was well funded until one of Pratt’s fiscal responsible Social Credit governments under W.A.C. Bennett buffed the till, not leaving a dime, to build a power project. It took years to rebuild the fund to where it is once again viable going forward.

Finally we come to the reason behind Mr. Pratt’s fulmination, the “stop Harper” campaign. Perhaps it is because many view Mr. Harper as venal and in the service of the corporatocracy rather than in the service of the Canadian people and in properly regulating the monied interests of capitalists who want to run unfettered over the planet… until exhaustion or collapse.

Brad Fuller

Nelson

 

Just Posted

Wait’s News lives! Iconic Nelson diner to relocate

Wait’s will set up shop on Nelson Avenue later this year

MS Bike Challenge raises over $81,000

The annual event in Nelson included over 60 cyclists

Nelson’s Maglio hired by Spokane Chiefs

Adam Maglio will serve as an assistant coach with the WHL team

COLUMN: Working together on climate action with our MLAs

Katherine Oldfield writes about the Citizens’ Climate Lobby’s trip to Victoria

Buddhist monument to be dedicated in Slocan cemetery

A new post has been created to mark the site where at least nine Japanese Canadians were cremated

VIDEO: Young couple found dead in northern B.C. had been shot, police say

Chynna Noelle Deese of the U.S. and Lucas Robertson Fowler of Australia were found along Highway 97

VIDEO: Man found dead near B.C. teens’ truck could be linked to a double homicide

RCMP said they are looking for Kam McLeod, 19, and Bryer Schmegelsky, 18, of Port Alberni

Latest plan is to fly trapped fish by helicopter over Big Bar slide

Multi-pronged plan set in motion to freesalmon blocked by landslide in the Fraser River

Family of missing B.C. senior with dementia frustrated with situation, heartened by community support

Nine days since Grace was last seen the question remains: ‘How can an 86-year-old just disappear?’

B.C. removes personal limits for bringing home out-of-province alcohol

Previous relgulations placed limits on the amount of liquor that B.C. residents could bring home

Unsealed record suggests U.S. man convicted of murdering Vancouver Island couple left DNA on zip tie in 1987

William Talbott is set to be sentenced Wednesday in the murders of Jay Cook and Tanya Van Cuylenborg

Okanagan Air Cadet challenges gender-exclusive haircut policy

Haircut regulation inspires challenge around gender identity

VIDEO: Bystander training gains traction as tool to prevent sexual harassment, violence

Julia Gartley was sexually assaulted after an event, and no one stepped in to help

Two brands of ice cream sandwiches recalled due to presence of metal

The Canadian Food Inspection Agency issued a recall on Iceberg and Originale Augustin brands

Most Read