An Economy Based on Profit-Maximizing Companies is Unsustainable and Bad for the Common Man

Granted America is not socialist, it however is far from a pure capitalist society. "Regulations DO NOT make a system socialist" Regulations are stepping stones to socialism as they often change how a company does business and many decisions are made to remain compliant. I am referring to regulations that have nothing to do with health, safety, or wages. They are regulations concerning accounting and business practices. Banks specifically are often forced to give bad loans, but then are bailed out by Fannie and Freddie by selling them the bad loans. That is the biggest cause of the housing crisis and bank bailouts in 2000. The epipen has become the standard in its market. However even without any government interference competitors will force it to lower its prices. However the Government itself is making it very hard for generics to hit the market. The FDA (a government agency) has not yet allowed the generics in the American market despite them being used for years in Europe with no side effects. Yet in America the FDA won't allow them, again the government hampering the free market and giving a company an unfair advantage. By shutting down the competition the FDA is creating a monopoly. The true profit maximization model goes out the when a government sponsored monopoly exists. http://goldfarbfinancial.com... http://conservativenews247.com... Insurance companies consorting with big pharma as you suggest?? No, insurance companies hate monopolies as they prefer to pay as little as possible, just like anyone else. They prefer generic's as they cost them less money. " In perfect competition we find companies lower prices to compete with the others, helping the consumer, but we both know there is not perfect competition in too many industries. " Yeah that is sort of the whole idea of capitalism. In a free market competition keeps prices lower as remaining competitive increases sales which increases profits. (thus profit maximization) It also encourages the products to improved upon to increase sales. Yet in the examples you cited the competition is not always a factor due to government regulations creating a monopoly. Your own link about Henry Ford defeats your argument. ""Interest throughout Brazil in Ford"s new plantation was high. Natives hoped that Ford could bring the rubber industry back to Brazil. Ford"s commitment to hire Brazilians for the majority of the work further enticed the country. Wages for the employees were good compared to what they were accustomed to and also compared to what contemporaries were receiving in the Far East. Compared to the typical pay of 20 cents per day in the Far East, Ford started out by offering workers 35 cents a day and providing them with free food, shelter, and medical care. Along with free housing, the workers were provided with a community pool, a hospital, tailors, shops, restaurants, and shoemakers. "" They actually welcomed Ford and he provided a much better living for them than they were accustomed to. Ford created the 40 hour work week and expected the natives to work 40 hours but did not understand that they were not used to that many hours, that was just a cultural difference that Ford soon adjusted to and allowed the native workers to work by their schedule. You claim that profit maximization hurts the average citizen and the standard of living. Yet you never addressed how America the most Capitalist of all nations also has the highest standard of living as I referred to previously. You still fail to understand what profit maximization is and how it actually lowers prices in the free market.