In 2013, Pope Francis stated that extra restrictions on the free market have been required because the “dictatorship” of the worldwide financial system and the “cult of money” have been making individuals miserable. In his encyclical Laudato si’, Pope Francis denounced the position of capitalism in furthering local weather change. During the Age of Enlightenment, some proponents of liberalism were critics of wage slavery. One indication of accelerating company power was the elimination of restrictions on their capacity to purchase again stock, contributing to increased earnings inequality.
Writing in the Harvard Business Review in September 2014, William Lazonick blamed report corporate inventory buybacks for reduced investment within the economy and a corresponding impact on prosperity and earnings inequality. Between 2003 and 2012, the 449 corporations in the S&P 500 used fifty four% of their earnings ($2.four trillion) to purchase again their very own stock.
Therefore a vital criticism usually made … Read More