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Thread: Home Depot co-founder Ken Langone: I love capitalism

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    Home Depot co-founder Ken Langone: I love capitalism

    As has been argued repeatedly, at least capitalism succeeds in contributes to the material well being of society unlike the many failures of socialism.

    Home Depot co-founder Ken Langone: I love capitalism

    Billionaire businessman Ken Langone told FOX Business on Friday young people’s views on socialism inspired him to write a book defending capitalism.

    He said the number of people watching Bernie Sanders during the 2016 election was shocking.

    “These were kids that were following him,” he told Maria Bartiromo on “Mornings with Maria.” “And I said my God they haven’t even started yet and they are giving up.”

    In the memoir, ‘I love Capitalism! An American Story,’ Langone describes his path to success, maintains that he’s not “self-made” and urges young people to surround themselves with “great people.”

    “We live in the greatest nation on earth,” he said. “There’s incredible opportunities in America. You have to look for them, you’ve got to work at it, you’ve got to give back.”

    ...
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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    Quote Originally Posted by Chris View Post
    As has been argued repeatedly, at least capitalism succeeds in contributes to the material well being of society unlike the many failures of socialism.

    Home Depot co-founder Ken Langone: I love capitalism
    Interesting article; thanks for posting it.

    I can see why Langone loves capitalism; he's done very well in life.


    Langone;s viewpoint on former CEO of GE, Jack Welsh, I cannot agree with him. While what Welsh did for GE and the shareholders was done on the backs of the employees. He was known as "Neutron Jack"; the reason he acquired that moniker was that GE was famous for buying it's competitors, then closing them down, liquidating everything and laying off the employees.

    While it was good for the corporation (and I was a stockholder back in the late 80's- mid 90'; their stock split twice in one year making many of my co-workers millionaires in the end) It was bad for those negatively impacted and I'm talking tens of thousands of employees who lost their jobs, mostly in manufacturing.

    Right now, GE is in trouble; I guess Jeff Immelt didn't follow in Jack Welsh's method's of doing business.

    https://www.foxbusiness.com/markets/...an-ken-langone
    God Bless America, God Bless our Military and God Bless the Police who defended the country against the insurgents on January 6, 2021

    Think 3rd party for 2024 folks. Clean up America.

    Once I tell you that we agree to disagree there will be no more discussion between us in the thread so please don't waste your time continuing to argue your points because I will not respond.

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    Quote Originally Posted by gamewell45 View Post
    Right now, GE is in trouble; I guess Jeff Immelt didn't follow in Jack Welsh's method's of doing business.
    Immelt is a crony capitalist. He relied on political connections and government favors.
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.


    I pledge allegiance to the Constitution as written and understood by this nation's founders, and to the Republic it created, an indivisible union of sovereign States, with liberty and justice for all.

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    Chris, theres capitalism then theres pure greed. Capitalism works, greed allows a few to suck everything dry.

    When the Atlantic Pacific Tea Company A&P supermarket chain was owned by the original owners. They had employees that worked for them for 45 yrs like my uncle. He made a decent living with benefits all those years. Many supermarket chains were like that and considered a decent working mans job.

    Today they all pay min wage and most are run by partime employees so there is no benefits. GREED took over. You can go down the line on jobs that pay less today then they did decades ago.

    Another example, Casinos at one time people left the east coast to go to Las Vegas to work in casinos the pay was damn good. Atlantic City when it first opened in 1978 paid security officers more then to start than they do today.

    American workers have categorically been cut out of the benefits and profits of corporations, there was a time when Corporations shared some success with their employees those days are long gone.

    Corporate profits and made billionaires have skyrocked in this country while pays have stagnated and half of america is absolutley underpaid.

    I part company with all conservatives on this issue
    LETS GO BRANDON
    F Joe Biden

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    Quote Originally Posted by gamewell45 View Post
    Interesting article; thanks for posting it.

    I can see why Langone loves capitalism; he's done very well in life.


    Langone;s viewpoint on former CEO of GE, Jack Welsh, I cannot agree with him. While what Welsh did for GE and the shareholders was done on the backs of the employees. He was known as "Neutron Jack"; the reason he acquired that moniker was that GE was famous for buying it's competitors, then closing them down, liquidating everything and laying off the employees.

    While it was good for the corporation (and I was a stockholder back in the late 80's- mid 90'; their stock split twice in one year making many of my co-workers millionaires in the end) It was bad for those negatively impacted and I'm talking tens of thousands of employees who lost their jobs, mostly in manufacturing.

    Right now, GE is in trouble; I guess Jeff Immelt didn't follow in Jack Welsh's method's of doing business.

    https://www.foxbusiness.com/markets/...an-ken-langone

    I can see why Langone loves capitalism; he's done very well in life.
    Well, that is the nature of capitalism in a liberal democracy. The founding fathers, if you read the Federalist Papers, were definitely Enlightened individualists and set up a government to protect individuals. The result is some individuals do better than other individuals. Still, everyone does better, everyone rises in such a system. It is not a win-lose system as modern liberals try to depict it and try to pushbck with equality under and artifical collectivism where no one wins.
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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    Quote Originally Posted by Common View Post
    Chris, theres capitalism then theres pure greed. Capitalism works, greed allows a few to suck everything dry.
    How does that work? How does greed allow a few to suck everything dry?
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.


    I pledge allegiance to the Constitution as written and understood by this nation's founders, and to the Republic it created, an indivisible union of sovereign States, with liberty and justice for all.

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    Quote Originally Posted by Common View Post
    Chris, theres capitalism then theres pure greed. Capitalism works, greed allows a few to suck everything dry.

    When the Atlantic Pacific Tea Company A&P supermarket chain was owned by the original owners. They had employees that worked for them for 45 yrs like my uncle. He made a decent living with benefits all those years. Many supermarket chains were like that and considered a decent working mans job.

    Today they all pay min wage and most are run by partime employees so there is no benefits. GREED took over. You can go down the line on jobs that pay less today then they did decades ago.

    Another example, Casinos at one time people left the east coast to go to Las Vegas to work in casinos the pay was damn good. Atlantic City when it first opened in 1978 paid security officers more then to start than they do today.

    American workers have categorically been cut out of the benefits and profits of corporations, there was a time when Corporations shared some success with their employees those days are long gone.

    Corporate profits and made billionaires have skyrocked in this country while pays have stagnated and half of america is absolutley underpaid.

    I part company with all conservatives on this issue

    If you read enough about socialism you will see soon enough that greed under it is worse than under capitalism. The problem is the more centrally controlled the economy is the more corruptive greed for power and riches you will see in any system. See, for example, Corruption in Cuba - Greed or just survival? or Inside Fidel Castro’s life of luxury and ladies while country starved.

    If an employer is too greedy, go find another.
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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    I think greed is pretty bad in many third world nations where the top leaders in government takes much of the international aid money for themself while their people live at a level of poverty not understood in the US.

    Quote Originally Posted by Chris View Post
    If you read enough about socialism you will see soon enough that greed under it is worse than under capitalism. The problem is the more centrally controlled the economy is the more corruptive greed for power and riches you will see in any system. See, for example, Corruption in Cuba - Greed or just survival? or Inside Fidel Castro’s life of luxury and ladies while country starved.

    If an employer is too greedy, go find another.
    ΜOΛΩΝ ΛΑΒΕ


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    Quote Originally Posted by Chris View Post
    If you read enough about socialism you will see soon enough that greed under it is worse than under capitalism. The problem is the more centrally controlled the economy is the more corruptive greed for power and riches you will see in any system. See, for example, Corruption in Cuba - Greed or just survival? or Inside Fidel Castro’s life of luxury and ladies while country starved.

    If an employer is too greedy, go find another.
    I dont like socialism and I dont condemn capitolism, I condemn the greed that has permeated in every pore of it. Thats why im for unions they are the only thing that makes corporations treat their employees fairly
    LETS GO BRANDON
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    Quote Originally Posted by Common View Post
    I dont like socialism and I dont condemn capitolism, I condemn the greed that has permeated in every pore of it. Thats why im for unions they are the only thing that makes corporations treat their employees fairly
    Unions are greedy as well. Why they've fallen out of favor.

    Greed is a subjective judgment. There's no objective standard to measure it by. Bill Gates is one of the richest men in the world. Is he greedy because of that? Or not because he gives much of it away in charity--well, likely his wike makes him but still.
    Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler

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