We live in a day and age, in which never has there been more power in the hands of not people, as individuals, but rather in the legal entity of a corporation, in which, unlike people, which have a finite period of time on earth and thereby in society; we find that Western nations have instituted corporations, which are as structured currently are perpetual. This means, that long after a given corporation has been founded by its original founders, it will still be in existence, as long as it continues to make a good profit and stay relevant. This is why there are many a corporation today, that have been around for well over a century, and why the biggest and brightest corporate entities of today are well-structured to last as long as this nation exists in its current form.
While there are a lot of good things when it comes to capitalism, in which, it has to be said, that money is a great motivator for many a person or corporation – it also has to be admitted that any institution that makes its point that its primary responsibility, as argued by Milton Friedman, is “to maximize profits and increase returns to shareholders,” presents a clear and present danger to a government of, by, and for the people, because when any corporation, is driven to make a profit, above all, this means that anything that gets in the way of that pursuit, such as labor, regulations, competition, and fair play, is going to take a back seat to those profits, which is why the only thing that can properly regulate these gargantuan corporations which exert undue influence upon markets and people, is a robust government acting through its agencies.
Indeed, it is the duty of government to see that the playing field so played upon by capitalistic entities, must be a field that first of all, respects the fact that the continual exploitation of labor, environmental damage, collusion between corporations, or the buying out of competitors, and so on, are monitored and thereby corrected by the government, or else, America will have ceded to those corporations, that the pursuit of profit supersedes what this government owes to its people, because whenever corporations are permitted to have their way, with little or no interference by governmental agencies, then what we will see is more power held in corporate hands, which will undermine governmental policies that conflict with what these corporations are wont to do.
It has to be said, that capitalistic corporations that have sales of billions upon billions of dollars, and own assets that are also in the billions upon billions of dollars, need to be properly taxed by governmental authorities and need also to be properly regulated, or else important things such as environmental concerns, or the paying of a fair wage, will be pushed to the background, and the less that corporations behave to the people responsibly, the more that the government will be stuck having the responsibility of providing an ever bigger safety net, for those that have been exploited as well as that government being needed to ameliorate environmental damage, all because corporations are given free rein to make a profit, without the attendant responsibilities that they have to be a good steward to the government that permits their existence.