The United States today “is not pure capitalism,” says Lloyd Blankfein, the CEO of Goldman Sachs.
In fact, according to Blankfein, there is no place in the world today for “pure capitalism” because we live in a “regulated system,” or a mixed economy, something that philosopher and author Ayn Rand warned about throughout her entire life.
Of course, Blankfein would know something about this because he is just another crony with superb ties to Washington and the Federal Reserve. The revolving door is constantly in use at one of the biggest financial institutions in the world.
In the early stages of the Obama administration, Goldman Sachs took out $20 billion in taxpayer money during the financial crisis – it was also a top contributor to his presidential campaign in 2008. To this date, Goldman Sachs employees have quite the buddy-buddy relationship with the White House, the federal government and the U.S. central bank.
So, thanks to this impure capitalistic system, companies like can gain favors from the government, use taxpayer dollars and help write legislation that benefits themselves and hurts their competitors (see anti-trust legislation). If we had a truly capitalist system then the cronyism would end and the inept businesses would go out of business.
It is true, There is no “real capitalism” left anywhere is the world and probably never was. When governments try to control big business, politicians die. Lincoln stated that his biggest fear for the future of America, was the manipulation occurring by big businesses of the time, of which he was completely against. That is why for the majority of the history of the US, only the rich/well off have been elected to office. Small time politicians in small city government do not make a difference, their nobody. Now if we were to run government like the US was originally set up, where the states had the majority of the power. the federal government would barely exist, A president would only have the power to act on or speak to situations in which the state governments allowed him/her to act on.