A growing number of progressive politicos have expressed some level of hostility toward America’s capitalist system in recent years, advocating instead for socialist ideals more akin to those endorsed by China.
Although few have openly advocated for socialism outright, even House Speaker Nancy Pelosi (D-CA) joined the trend, declaring recently that capitalism has “not served our economy as well as it should.”
“Make sure that it serves us”
According to Fox Business Network, her remarks came during an event in the United Kingdom on Friday.
Pelosi went on to suggest that significant and fundamental changes to America’s economic system would be necessary to “make sure that it serves us” in a more equitable manner.
“In America, capitalism is our system, it is our economic system, but it has not served our economy as well as it should,” she told those in attendance at the Chatham House, a British think tank that addresses various international affairs.
She went on to insist “what we want to do is not depart from that but to improve it and to make sure it serves us.”
As the Daily Caller reported, the speaker proceeded to heap praise on what she called “stakeholder capitalism” in which wages for workers rise in coordination with increased productivity.
“We have to correct that”
On the other hand, she criticized so-called “shareholder capitalism” for keeping wages stagnant for workers while the salary of upper management and shareholders continues to trend upward.
“You cannot have a system where the success of some springs from the exploitation of the workers and springs from the exploitation of the environment and the rest, and we have to correct that,” Pelosi said.
Although her statement appears to endorse a move toward socialism, she refrained from using the word — unlike others in her party like Rep. Alexandria Ocasio-Cortez (D-NY) or Sen. Bernie Sanders (I-VT).
Given Pelosi’s call for “new, fresh ideas” that would transform the nation’s capitalist system, however, it is not difficult to see the parallels between her rhetoric and those of her far-left colleagues.
Of course, those calling for a more socialist economic system in the United States fail to mention to potential pitfalls of pursuing such a plan. Whether out of ignorance or political expediency, Pelosi and others are seeking to undermine the American economy in a way that would ultimately harm workers, managers, and shareholders alike.