Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media: At least two soldiers killed by anti-tank missile fired at Israeli army forces in the Gaza Strip
Local Syrian sources: Mortar shells fell on more than nine villages in the Sweida countryside
Local Syrian sources: Dozens of dead and wounded have arrived at Sweida hospitals as a result of ongoing clashes at several locations in the western Sweida countryside
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation

Corporate America does not go hand in hand with Democracy: report

  • By Al Mayadeen Net
  • Source: Eurasia Review
  • 16 Jan 2022 21:30
  • 3 Shares
3 Min Read

Capitalism and democracy are compatible only if democracy is "in the driver's seat," Robert Reich said.

  • x
  • Wall Street, New York City, United States
    Wall Street, New York City, United States

Robert Reich, a former Secretary of Labor in the United States and current Chancellor's Professor of Public Policy at the University of California at Berkeley, wrote an OpEd article for Eurasia Review about how capitalism is undermining democracy.

According to Reich, capitalism and democracy are compatible only if democracy is "in the driver's seat," meaning the system must be dependant on democracy rather than capitalism, which he sees is not the case in the United States.

He cited a report by Citizens for Responsibility and Ethics in Washington revealing that corporations donated some $18 million to the majority (143 of 147) lawmakers that had voted to overturn the 2020 presidential results in favor of Donald Trump after he lost to President Joe Biden.

Reich highlighted that corporate America is more invested in politics than ever, with a "tsunami of money" flowing into "the swamp of American politics," saying this was undermining American democracy.

Many big corporations had pledged to stop financing the campaigns of the lawmakers who voted in favor of Trump, but 717 companies made the $18 million donations to the majority of those "seditious" lawmakers.

He also cited one particular democratic Senator, Krysten Sinema, who had received $2 million in 2021 in campaign donations despite not being up for re-election until 2024 - most of which came from corporations who had a history of donating largely to Republicans.

Related News

Supreme Court clears fast-track deportations to random third countries

China-US trade falls 10.4% in H1-2025 to $289.36 billion

Sinema has long been an opponent to any change in the filibuster, voting against the increase in the minimum wage to $15, opposing tax increases on corporations and the wealthy, and pushing further the price reform on drugs. All these policies are supported by the majority of Arizona, the state she represents. It is worth noting that the campaign donations came from corporations outside of Arizona.

With that, corporate PAC spending on congressional elections has more than quadrupled - adjusted for inflation - he said, highlighting that labor unions no longer compared, as union PACs contributed just as much as corporate PACs a few decades back.

Reich also cited a 2014 study published by a Princeton University professor; The study concludes that the typical American has no influence whatsoever on legislation emerging from Congress.

The generous corporate contributions to politicians have largely benefitted corporate America; tax rates on corporations have heavily decreased, regulatory protections for consumers, workers, and the environment have been altered to benefit corporations, and antirust has changed in a manner that benefits them, rendering the market without competition.

Corporations have been benefitting from federal subsidies while attacking labor laws, allowing them to reach record profits, with CEOs making 320 times as much as their average workers when they used to make 20 times more a few decades back, while the wages of workers have barely increased over the past 40 years.

He conveyed a message to CEOs in America, telling them they need democracy though they are actively undermining it as their actions destabilize both society and economy.

Reich's message came as a warning that the measures taken by corporations to serve their interests will have their toll eventually, harming their interests.

  • United States
  • Congress
  • Democratic Party
  • Capitalism
  • Democracy
  • Senate

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS