I was a business major in my undergraduate college degree. I have admiration for the theory of the free-enterprise system. But doesn't there need to be some accountability? Doesn't doing what is right for America still outweigh gouging for all the greedy profit one can get?
I cite two examples: Exxon-Mobil continues to rack up obscene quarterly profits -- PROFITS (that's after expenses) for the last several quarters. I'm talking about profits like no corporation in history has come close to. Yet all the while they are taking the United States down into a recession -- coupled with inflation. After all, fuel prices affect the price of EVERYTHING. Can I afford $4 a gallon gas? Yes, in my two Honda Civics, I will be OK. But my heart hurts for the poor who will have to do without food perhaps in order to get to their job -- if they are fortunate enough to have one. It is sinful and unholy greed. And I do believe that a just God does not close His eyes to greed and taking advantage of others.
But where is the accountability? There is none. There isn't really even the practice of a free market system here. The oil companies essentially have a monopoly. In economics, it is called an olygopoly (sp?) in the case of big oil; where there are only a handful who are competing. And how easy would it be for those few to be in collusion with each other?
2nd example: AMR (parent company of American Airlines) reported yesterday that their quarterly losses amounted to $328 million dollars. I can remember a day when bonuses were given for superior performances. So with that staggering quarterly loss, what happened to the top corporate executives of AMR? The CEO received a bonus of $1.7 million, while the CFO received only a paltry (I am being sarcastic) $934,000. Not salary -- but bonus!
What do you think the company is going to tell the pilots and flight attendants and other employees when it comes time for contract talks? They will say, "Have you seen our bottom line? We are losing money. Why can't you people understand that and accept your 10% pay cut like good, loyal employees during these hard times?"
Again, where is the accountability? Does ANYONE out there picture God smiling on such greed?