Is Global Capitalism Promoted Greed?
Is it? In my opinion, yes in two ways.
The first is Capitalist Greed in terms of control and wealth. Bigger is better. By controlling a larger percentage of an industry or industries, the global capitalist controls a larger portion good and labor for that industry. This means he has more control prices charged and labor costs. Combined with economies of scale, this allows the bottom line (profit) to increase due to increased revenue and lower costs.
The second is Government Greed in the form of tax revenue. In the United State, he corporate income tax is, for the most part, a progressive tax not on Revenue but on Net Earnings before Interest and Taxes (EBIT). For them, one corporation having an EBIT of 50 million dollars will produce close to 500,000 dollars more tax revenue than 100 companies with a net income of 500,000 if everything is equal (i.e Revenue and costs). In reality, there difference in Tax Revenue is probably much more due lower net income caused by price and labor pressures caused by competition. This means it is in the government’s best interest to eliminate competition when it is possible.
In both cases there is greed.
