Bernie Sanders referred to Jamie Dimon as one of the biggest corporate socialists in the USA recently in the latest Ad. The CEO of JPMorgan Chase is the Socialist as per Sen. Bernie Sanders, as indicated in a Dimon ad.
Sanders calls JP Morgan Chase CEO, the most prominent corporate Socialist in the US
Sanders mentioned the same concerning the various bailouts taken by JPMorgan and other banks at the time of the financial crisis in 2008.
As per Bernie Sanders, the American corporate companies indirectly behave like Socialists using ways like government bailouts and corporate welfare even though they talk about free markets. The US companies work at an internal level in socialist ideas, and their planning is mostly in a socialist-style.
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Jamie Dimon Criticized Socialism
The JPMorgan Chase CEO had recently criticized Socialism, saying it can destroy American markets. Sanders took a dig at the same meaning that the CEOs attack Socialist planning in public; however, internally, the big companies subordinate the market competition using a socialist plan.
American Capitalist Companies follow Socialist Culture Internally
The companies have many business units, and the groups do not compete with each other. Instead, they cooperate to achieve the objectives of the organization as a whole, collectively. The way companies operate internally is precisely like a socialist economy in which government plans in such a way that each industry and enterprise works to achieve the overall profitable outcomes for the society and country.
Socialism can work for American Economy
As per Sanders, the United States economy should use a similar approach that the organizations use internally for overall harmony in the enterprises and regain the momentum of growth. Amidst the global crises of climate change and trade wars, it is required that every stratum of the various economic layers work in conjugation with each other to achieve composite restoration from damage.
Enterprises face Challenge in Adopting Socialism
The biggest challenge with the socialist approach in the enterprise is that the businesses need the employees to think and work collectively to achieve the common goal of growth within the organization. Thus the organizations create policies and procedures that employees follow; however, the employees need to be individual growth-oriented also to encourage creative thinking and diversity.
The Solution to the problems in corporate America lies in the approach where specialization of roles is there in which some people work on the routine tasks while some take up innovation. With this majority takes on the regular stuff. However, modern organizations are creating distinctive cultures and reward-based systems to encourage both collective work culture and individual change.