US needs to make sure capitalism ‘serves us,’ Pelosi tells Chatham House guests

Nancy Pelosi, Speaker of the US House of Representatives, at Chatham House, Royal Institute of International Affairs, in London, September 17, 2021 (AP photo)

The United States needs to make sure that capitalism “serves us,” says House Speaker Nancy Pelosi, admitting that the economic system has failed and needs to be improved.

The top Democrat in the House of Representatives spoke to guests at an event organized by the Chatham House think tank for international affairs.

“In America, capitalism is our system, it’s our economic system, but it hasn’t served our economy as well as it should,” she said. “So we don’t want to deviate from it, we want to improve it and make sure that it serves us.”

The California Democrat continued to condense the exploitation of the working class in America for the rich to make a profit.

“You cannot have a system where the success of some comes from the exploitation of the workers and the exploitation of the environment and the rest, and we have to correct that,” she said.

She also suggested that the economic system must “work better for everyone, because we really have to improve that, we cannot exploit our workforce”.

She made the remarks when a rift widened between Republicans and Democrats over imposing higher taxes on the wealthier sections of society amid the coronavirus pandemic, an idea promoted by President Joe Biden.

“This pandemic was terrible for so many reasons,” said the US president on Thursday. “But it offers us an opportunity. We can build an economy that gives working people a fair chance this time around. We can restore some common sense and fairness to our tax regime. We can make the investments that we know are long overdue in this country. ”

Meanwhile, tens of millions of Americans in major US cities are at risk of becoming homeless due to rising inequality in the US.