Pelosi: Capitalism ‘Has Not Served Our Economy as Well as It Should’
House Speaker hints of new socialist system
House Speaker Nancy Pelosi has said America's capitalistic system failed to serve its economy and needs to be "improved."
Pelosi said while peaking at the Chatham House in London:
"capitalism is our system, it is our economic system, but it has not served our economy as well as it should. And so what we want to do is not depart from that, but to improve it."
The House Speaker claimed the U.S. had "stakeholder capitalism" four decades ago, in which pay increases for CEOs and workers accompanied productivity increases.
But she said it has since been replaced by "shareholder capitalism."
"Productivity rises. CEO pay rises. Worker pay stagnates," she said.
"We cannot have an exploitation of our workforce where the wages have stagnated for decades and CEO pay has soared."
Pelosi is currently serving her fourth term as speaker and has spent more than three decades in Congress.
Images Emerge of Pelosi Holding Meeting with George Soros and Son— Neon Nettle (@NeonNettle) September 10, 2021
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During her remarks at the Cambridge Union, Pelosi said that President Joe Biden "knows his foreign policy."
There would be no trade deal between the U.K. and U.S. if Brexit tensions between Britain and the EU damage peace in Northern Ireland, House of Representatives Speaker Nancy Pelosi warned Boris Johnson.
The leading Democrat told the Chatham House think tank during a visit to London that her comment was “not a threat, it’s a prediction.” Pelosi also met Johnson in Downing Street, just days before the prime minister is set to meet U.S. President Joe Biden in the White House.
London and Washington negotiated on a trade deal for about six months, but the talks were thrown into a deep freeze after the Biden administration won the 2020 election.
Pelosi said a transatlantic trade deal was “very unlikely” if the Good Friday Agreement is harmed but said she was glad the U.K. and EU are still talking about the issues around the protocol.
“I’m so glad that more time has been given for the negotiations and the discussion because they have to reach an agreement,” she said.