For forty years people have been bombarded with claims that economic well being depends on private capital not on governments. Public utilities and services have been privatized. Regulations on corporations have been weakened. Taxes paid by corporations and the top income brackets have been slashed. Capital has been freed to move jobs from higher wage to lower wage countries.
Capitalist minorities — major shareholders and top corporate executives, two percent and less of populations — have increased their share of total income from ten percent to twenty percent. Capitalists have increased funds for private investment, but roads, bridges, rail lines, sewage and water systems have been allowed to deteriorate. Capitalists also have more money to finance election campaigns, to lobby and manipulate political agendas. Public spending on schools, hospitals, medical care and other social services has fallen behind needs. Chronic unemployment has risen. More people must get by on part-time work. Unemployment levels for young people are 25 percent, 50 percent and higher.