Economics/Class Relations

Mayor Pete On Baby Formula Shortage: ‘This Is A Capitalist Country’

“This happened because…” 1. A factory wasn’t held to regulatory standards (government’s failure) 2. That factory was almost all of the formula production in the country, with few backup facilities (capitalism failure) 3. The company owning that factory was allowed to become 40% of the market share (government regulatory failure) 4. Capitalist companies, without oversight, will fail regulatory standards and have zero redundancy or stockpiles in the event of potential shortages or interruptions (capitalism failure)

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