To the editor: Capitalism is nice. It rewards innovation and creativity and leads to prosperity. In idea, all members of a capitalist society profit from nationwide prosperity.
However, as historical past has taught (suppose Gilded Age), unchecked and ungoverned capitalism can lead to a small class of the uber-wealthy, a big class in poverty and an extra want for social help. Present statistics point out that is the place the U.S. is now (“‘Jenga tower’ economic system teeters as center class pulls again spending,” Nov. 6).
As Elon Musk seems to be to grow to be a trillionaire and the billionaire class grows, 42 million People (one out of eight) want meals help. In 2024, on the 350 largest corporations within the U.S., chief executives have been paid a median of 281 occasions greater than the everyday employee, whereas employee compensation has not even saved up with inflation for a few years. Whole U.S. family debt is now $18.6 trillion. Credit score delinquencies and private bankruptcies have risen sharply in 2025. The highest 20% of U.S. earners account for 63% of spending; the remaining 80% account for 37% of spending.
U.S. capitalism has gotten all out of whack. The U.S. is the most important economic system on the earth, with the seventh-highest GDP per capita on the earth. Our nation’s prosperity will not be being well-used and well-distributed. It’s time for a paradigm shift with some governance round U.S. capitalism to rebalance the good thing about the nation’s prosperity. And doing so doesn’t represent socialism or communism.
Carla St. Romain, Pasadena
