A Moral Capitalism

joe kennedy III

Congressman Joe Kennedy III. (Leigh Vogel/Getty Images for RFK Human Rights )

BOSTON (WBZ-AM) -- Congressman Joe Kennedy turned up at a business breakfast yesterday with a message for his hosts, and the rest of the nation’s capitalists.

According to the State House News Service, Kennedy said he’s had it with a system where “Americans spend their days fighting each other over economic crumbs while our system … hand-delivers the entire pie to those at the top.”

And he wants them to “embrace ‘a moral capitalism’ in which success is judged not just by how much it produces, but how widely it shares.”

Good luck with that.

Right now, “those at the top” seem pretty comfy with the yields on amoral capitalism.

Still, the news of the day did seem to endorse Kennedy’s theme.

Those layoffs and plant closures at GM were a real nice welcome-to-the-holiday-season gift from CEO Mary Barra, the uber-capitalist who says GE’s current run of “blockbuster profits” isn’t enough to keep on thousands of workers, who presumably will soon be excess baggage as they pivot to risky, unproven high-tech products like self-driving cars, which will in turn cost more jobs should they ever catch on.

And there was Kennedy’s law school mentor, Sen. Elizabeth Warren, at the Columbia Gas hearing yesterday forcing the top guy to reveal his salary, a cool $5 million.

There will be no post-fiasco pay cut for him, but he says he’s asked the board of directors to withhold his bonus.

If Kennedy’s message is ‘let’s try socialism,’ it’s probably DOA.

But if it’s more like, "Hey management, do you have to hog the profits so hard?", then the Kennedy/Warren message might finally catch on.

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Keller @ Large

Keller @ Large

Jon Keller is a WBZ TV & Radio political analyst. Read more


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