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A couple of thoughtful critiques of my column on capitalism not working -->
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I do think this argument misses something, though. Without question, corporate executives and politicians were responding to the threat and power of organized labor. They weren't raising wages merely out of the goodness of their hearts. But it's also the case that ...
... organized labor, along with a fear of fascism/communism, actually changed executives' minds. Not every wage increase or acceptance of regulation came in direct response to a threat or action from labor. Many -- not all, but many -- executives really did ...
... come to believe that broadly shared prosperity was best for the country. So, yes, today's more selfish capitalism won't reform itself. A movement will need to force change. But norms can then change, too. It' wrong to believe CEOs are always and forever equally Gekkoish.
A good example of how executives can voluntarily behave differently: George Romney. nytimes.com/2017/09/05/opi…
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