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According to Exbanker, American capitalism must be completely reorganized

Walker explained that he still believes in capitalism: “I think there is no better mechanism for organizing the economy than capitalism.” Walker said, “But even as an advocate of capitalism, I see its flaws.”

The truth is that in the United States we have not given real capitalism a chance

Walker said. According to the head of the enterprise, a type of “affected capitalism” must be created that takes into account the interests and importance of all stakeholders, including employees and communities.

He cited as an example that current corporate boards need to change. For example, a year ago, there was no black corporate board member in the S&P index. He thinks that this is a problem because someone who is not a board member simply doesn’t see a lot of things.

Walker said the rules of the game needed to change to allow people to compete in the same circumstances.

In his view, the past year has seen some progress in this regard as companies are starting to realize that the interests of black America have not yet been taken into account. The resulting tension erupted from people in 2020, exbanker reports. According to him, despite the progress, there is still a long way to go.

He said that in order to live the American dream, the economy and people in a good position need to ask themselves how much money and power they will give up to do so. He thinks he can call himself lucky because he was born in the lowest 1% and made it to the top 1%, which he thinks is only possible in America. But in his view, for this to remain possible, the narrow accumulation of assets and assets must be eliminated.

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We need to examine at any point in the system at which inequality is renewed

He believes that the reason for this lies in education, access to financial resources and the financial system itself. So Walker suggests that some change should be made to these systems.

(Yahoo Finance)

Cover photo: Getty Images

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