Social insurance in capitalism I would argue is in many ways just one way by which the capitalist system is kept in check. Economists as a result of the Great Recession are seeing the error of “Trickle down economics”. What social insurance does is allows for a stable marketplace when businesses lay people off. I can understand why business owners and other affluent protest, they have gotten their way for so very long, but without Social programs like food assistance and Medicaid there would be very few people able to buy the products which they are selling. Social insurance allows us to prevent a disastrous spiral of failing institutions.
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Alex Latunski
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Michael Ruben is discussing.
Michael Ruben 3:52 pm on April 26, 2016 Permalink | Log in to Reply
I don’t think its a matter of owners protesting so much as they don’t connect the dots aka big picture. I once knew a president of a multi-million dollar business who laid off 20 workers, because he didn’t do his job and renew the service contract he had with his client. As he nonchalantly told me at a networking event, he didn’t care about renewing it or the welfare of those former employees. Another CEO I once met laid off 500 employees in one day, simply because his golf outing had been cancelled because of the rain. If he wasn’t going to have a good day then nobody else was either. And yet, neither of these two individuals could see the big picture. Who knows, maybe a relative of one of those laid off individuals was a blogger with 100K followers who went to town giving away negative reviews. It’s a shame some people can’t see the big picture.