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American Capitalism Is Brutal. You Can Trace That to the Plantation.

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Securities fraud
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Terms in this set (48)
Securities fraud
Form of white-collar crime that typically involves deceiving investors with false information. In the context of the article, this term refers to the acts committed by Martin Shkreli, who was accused of defrauding investors at two of the companies he led. Shkreli excused his behavior by claiming that these behaviors were necessary in a capitalist society. The federal courts disagreed, sentencing him in 2018 to seven years in prison and requiring him to pay fines up to $7.4 million.
Capitalist (capitalism)
Economic system involving the exchange of goods, ideas, and services in which individuals or private businesses—not the government -- own the means of production. Societies operating under this kind of system emphasize the accumulation of personal wealth and private property. While these societies stress the virtue of personal initiative, it is important to understand that because of systemic racism and other cultural and institutional biases, not everyone has the same opportunity to participate in and profit from these economies.
Unregulated
Not controlled or supervised. When a capitalist society is unregulated, there are no “watchdogs” ensuring that rules, policies, and laws are being observed. This creates opportunities for businesses to act in unethical or illegal ways with little fear of consequences for violating acceptable business practices.
Little Haiti
Neighborhood in Miami, Florida in which most of the residents are from Haiti or of Haitian descent. In the context of the article, the author observes that small businesses owned by enterprising and hard-working immigrant families are being evicted from their places of business. The author uses this example to show that in some instances, behaviors that are explained as rational capitalistic decisions are brutal and harmful to the public good.
Low-road capitalism
Term coined by Joel Rogers, a sociologist at the University of Wisconsin-Madison, to describe a capitalist society marked by low wages and unskilled workers who are motivated through the threat of punishments rather than the promise of rewards. Businesses compete to produce goods of the lowest price rather than the highest quality. The overall result is greater inequality and a growing poverty rate.