Capitalism

So…I have frustrations with capitalism.

The biggest frustration about capitalism right now is how it’s completely GREEDY. Don’t get me wrong, I have no problems with people earning as much money as they can. But the problem with capitalism is the greed trumps what is good for everyone. These large private corporations can do whatever they want and us “little people” have no choices. Sure we can complain. Sure we can boycott. But in the end, it does nothing.

Here are some problems:

  • Verizon just decided to do away with their unlimited data plans. You cannot be grandfathered in either. I made the switch to Verizon over two years ago from AT&T. It was the best switch I made. I do not like AT&T one bit. Their coverage sucks. Verizon has been so good since the switch. But…there are still MANY places that don’t have cell phone coverage. Why?! That shouldn’t happen in the United States. Why not make it available anywhere and everywhere? Oh…and why do you have to charge $80 a month for phone coverage? Landlines weren’t that much…so why does wireless have to be?
  • I am a huge soccer fan. I am a huge sports fan. But…ticket prices and concession prices are through the roof! I’ll use my favorite Columbus Crew as the example. They have gotten maybe 11,000 fans at their recent games. The ticket prices average $36.50 per ticket ($51 max and $22 min). So, they are making $401,000 per game at 11,000 attendance. Oh, their stadium is probably operating at less than 50% capacity. Imagine if they lowered ticket prices and then allowed people to come actually be fans?! Even if the average ticket price was $22, they would only need another 7,000 tickets sold to equal what they are bringing in at less than 50% capacity. It’d be a much more enjoyable experience with more fans! The same can be said for many other sporting events…
  • Kellie and I went to the midnight premiere of The Avengers a couple weeks ago. We watched the 3D version. Know what we paid for the tickets? $6!!! Each! How awesome is that? We are fortunate to live in a community where the owner of the theatre is operating it FOR THE PEOPLE. I think popcorn and drinks are like $1.50 and $1.00 respectively. That is awesome! A friend of mine saw the same movie, in 3D, and paid $13 for his ticket. It’s amazing at what happens and the customer feedback when things are actually affordable.
  • Nike just took over the NFL jerseys and branding. Know their move? Let’s up jerseys $15! LAME! Jerseys were already outrageously priced at $85 each. Now they are $100! Chalk me up to NEVER buying another NFL jersey. It’s unfortunate. Phil Knight must not have enough money.
  • I am getting ready to write a business ethics paper for an MBA class. One thing I am contemplating on writing about is the rising cost of tuition, especially with universities that already have LARGE endowments. Denison University has an endowment of over $570 million and charges over $40,000 for tuition and fees. Harvard has an endowment of over $27 billion (largest in the world) and charges over $39,000 for tuition and fees. Ohio State University charges over $9,000 for in-state (over $24,000 out-of-state) and has an endowment of over $1.8 billion — not to mention spending more money on athletics than any other institution in the country (world). I can go on and on with these institutions. It’s outrageous how much tuition has gotten. As tuition continues to rise EVERY year, endowments do as well. Why not do something about it? Oh yeah, because money continues to go toward administrators. There are more administrators making millions of dollars a year than ever before. These are higher education administrators!
  • Speaking of education…the rising salaries of teachers, principals, and superintendents. I know a superintendent (who is worthless) that makes over $120,000 a year — the district includes one high school, one middle school, and three elementary schools (average grade size is around 150-170). I know a former principal (got demoted) who was making over $90,000 at a middle school. Recently, there was an Ohio elementary teacher who was put on leave for harming a student, the teacher was making $71,000. Is there a problem here? We spend over $11,000 a year per student…and we have MAJOR problems with our education system. Education is no longer about “educating.” It’s about earning the most money you can. Whatever happened to the service industries where people didn’t seek the highest paycheck?
  • Minimum wage continues to increase…what is it now, $8/hour? That seems awful high to me. Why should anyone have to pay $8 to flip a burger? Why should someone pay $8/hour to scoop popcorn at a movie theatre? Doesn’t that seem high? I know, I know…they have to make a living since the price of living continues to increase. Well…why is it increasing? Because we keep raising prices to EVERYTHING because of GREED!
  • Going back to the “service industry” talk…our healthcare is completely outrageously priced. Why? Well, we have HIGH medical malpractice insurance. We have high pay for nurses, doctors, etc. I don’t mind paying people higher for higher degrees, risks, etc. but…it really costs over $57,000 if someone has a heart attack…CRAZY! You cannot control what happens to your health..sometimes. You can go bankrupt if you fall into a health mess…

I touched on it earlier, but Toronto has city-wide WiFi — supposedly. That’s great! Imagine if that would happen in the US in the big cities? But…who’s going to make a buck on that? But that is such a great move for the people! It should happen. Many businesses do it. Guess what…the customers are happy about it!

I really wish that this country would get out of the “greedy” mentality. I wish our government would do something to change things. I remember when someone ran on the “change” platform. I also have lived through no “change.” The economy isn’t better. The job outlook is not better. It sucks. But…it won’t be changing anytime soon.

I know that capitalism is probably the best way to go. But…if we could just do away with some stinking greed. I wish people would go back to helping each other. I want the betterment of the humankind. What I listed is just some things that have been going through my head in the last couple of days. Kellie and I are in a situation that many our age are in…no full-time job. No leads. I would venture to say we both have VERY competitive resumes for what we do. Things will turn around…but tuition worries me. It may not get better. I don’t see too many things lowering in price. Oh well…

We’ll see what happens.

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