I completely agree with +Richard Branson on his post "In defence of capitalism and #entrepreneurs "

I think one of the main issues facing Capitalisms future is the Capitalists themselves! For example I recently commented on how a few years ago there were thousands of ISPs providing connections to the Internet, whereas today you only have 1 or 2 broadband providers in large markets and small markets might not have any. Today the FCC is opening the doors for those providers to raise rates significantly. For capitalism to work there needs to be competition you need at least a dozen actors to create a competitive market. Richard understands this as there is still many choices in Air Travel, and he has to compete against the other companies. +Virgin does it very well I might add.

The problem is that Capitalists in general seek to regulate their industries in order to raise the barriers to entry and prevent the needed competition. They start to take advantage of this lack of competition which creates public backlash which in turn creates more regulations. This unfortunately has the unintended side effect of raising the barriers to entry even higher.

Add to that predatory business practices that kill small business right as they start to succeed and a few other issues that capitalists create. Such as focusing too much on quarterly p/l statements, and you get the mess we have today. Capitalists are the actors who through their actions over the last fifty years created the world we live in. They messed up.

As much as Capitalists created this mess it is Enlightened Capitalists like Branson that will bring us out of this mess. Profit is good, but building the future is better. Capitalists have put the focus on the short term profit and gave bonuses based on this very limited metric. This set in motion a bunch of actions that in many cases had unintended consequences. All the accounting "irregularities" scandals of recent are due to unscrupulous managers grabbing for those quarterly bonuses that are based on the short term profit.

We need to move beyond that. Granting bonuses based solely on short term profits is not in the capitalists interest. Profit will naturally increase when the business is working well. Bonuses need to be set due to organic factors. Such as growing the market for a given product, or successfully expanding into virgin territory. Share the love and spread the bonus through more of the company. A manager is rarely the reason a product is successful, behind the manager is a team of people that made it that way. Take a more holistic view of the business cycle. Companies need to focus on finding ways to uplift humanity and stop trying to step on us.
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