Representative Alexandria Ocasio-Cortez (D-NY) believes the American capitalist system is broken.
In a Yahoo Finance interview with Andy Serwer on Thursday she said, “To me, capitalism at its core, what we’re talking about when we talk about that is the absolute pursuit of profit at all human, environmental, and social cost.”
She added that currently, a “very small group of actual capitalists” can control markets, and she sees it as “not a redeemable system for us to be able to participate in for the prosperity and peace for the vast majority of people.”
Her statements came after President Joe Biden commented on the significance of capitalism following the Bureau of Labor Statistics release that showed that the US added 467,000 jobs in January.
“Look, I’m a capitalist. And capitalism without competition is not capitalism. It’s exploitation. So I’m going to continue to do everything in my power to work with the Congress to make our capitalist system work better, provide more competition, and lower prices for American consumers,” Biden said.
Ocasio-Cortez is a member of the Democratic Socialists of America (DSA) and believes that the government should have power in ensuring that workers have control over their conditions.
The DSA website states that democratic socialism should replace capitalism. Democratic socialism is “a system where ordinary people have a real voice in our workplaces, neighborhoods, and society” according to the DSA site.
ARTICLE: JILLIAN WEIDNER
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: BUSINESS INSIDER