The disconnect between the people and the business community community has reached huge proportions in the US.  Only one third of Americans believe large corporations are having a positive effect on the country and only 2 in 10 people surveyed say they have confidence in big business. The latter think that if they explain their needs better people will come round. These “needs” include expanded international trade, immigration reform, reduced deficits, relaxed regulation, lower corporate taxes and cuts in  Social Security and Medicare.  What they think to be the point of life is a mystery. Just increasing profits and the incomes of the the bosses?  Apparently.

Meanwhile, corporations are enjoying record profits but investing little in the economy.  Having mopped up the competition many are now simply rent- seekers. Owing to mergers and acquisitions, the number of companies listed on the stock market has dropped by half from 1997 and 2012, and  start-ups have created  few jobs and nearly enough to offset the losses caused by globalization.  Never before has big business had such an image problem.

The result is that corporate agenda is stalled in Washington. TTIP and TTP, dictated by lobbyists, are very unpopular and are going nowhere. Tax and immigration reform look non-starters, and much needed infrastructure repairs and improvements (which are plainly necessary) won’t get done because Congress will authorize no spending. Meanwhile, “top” businessmen are smarting at the comments of Trump and Sanders.  The old adage,” the business of America is business” has never looked so tired and it is entirely the fault of the bosses.

What is the answer? Break up big business, like the first (Republican), trust-busting  President Roosevelt did, and get competition back into the economy. Then strengthen the power of shareholders, whose influence is now chiefly “advisory”.  Unfortunately, space doesn’t permit me to enumerate all the other things necessary to restore the old, vibrant economy of the United States of America.