The follow is the original concept of Capitalism: 'In capitalism profits take priority over needs, so that people starve while food rots, people go homeless while buildings are empty, people remain unemployed while needs are unmet, and so on.
Accordingly, profit-taking is held to be justified as risk-taking for the capitalists, so that starvation, homelessness, unemployment and the rest are the price paid for ‘good economics’.'
What we do these days is welfare which is included in the new concept of Capitalism.
There are two opposing views what constituents as being welfare, and these two parties have from a historically point of view alway opposed what constitutes as welfare.
Welfare is any form of assistance whether it received regularly or obtained at the end of the financial year by both groups.
To the business community, the opposition is receiving welfare but they are receiving incentives for venturing into a business.
Many small businesses and family operated businesses, get what I term as both types of 'welfare'. Besides the allowable deduction for actual operations of their business is the social side of welfare - healthcare card for their families and education assistance for their offspring’s etc.
The larger corporations achieve their welfare assistance usually thru what I term as 'commercial blackmail'.
Packer’s tower construction is a classic example - it was most probably a viable plan without trying to leech assistance from govt. departments.
I guess he adhered to the crux of the business acumen: cheap labour, govt. assistance and compliance to the least safety standards.
And u have the cheek to say that I don’t understand the meaning of the modern day Capitalism?
As A teenager I helped my father run a business without the modern day perks!
