This past week at Friend’s Academy was the famous Peace Week, which arrives once a year. This year’s peace week revolved around the issue of poverty throughout the United States. A few things we learned during Peace week through many videos and assemblies were that that many people who are currently struggling with poverty have either lost their jobs or are underemployed by companies that have been hit hard by the recession.
As it turns out, one of the current candidates for the presidency is implicated in the mismanagement of just such a company. Mitt Romney, the candidate in question, known for his Mormon background and his business-like demeanor, has made bounding steps over the other republican candidates. Recently, however, he has been under attack by another republican candidate, Newt Gingrich, on a website called “The King of Bain”.
Not only has the website called Romney himself the king of Bain, but the website has also accused Romney of being one of the cooperate raiders that caused the recent downturn in the economy. The accusations are that Mitt Romney and his “cronies” contributed to deindustrialization in America because they used overseas services to manufacture products. However, with the increased globalization of today’s markets, it would be unreasonable and unsustainable for Romney’s business to keep all of its labo in the States. Unfortunately this system leaves many Americans jobless, but at the same time is, I believe, an inevitable reality of the business world.
Many people wonder at length why no one has taken action in stopping overseas production of American goods, but I think the answer is fairly simple: Everything that Mitt Romney has been accused of is merely a part of our nation’s capitalistic economy and is in no way against the law. Even so, these recent accusations may hurt Romney in the upcoming election.
If you want to see the King of Bain video click here.