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

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
US House speaker Nancy Pelosi at Chatham House, the Royal Institute of International Affairs, in London, Sept. 17, 2021(AP photo)

The United States needs to assure that capitalism “serves us,” says House speaker Nancy Pelosi, acknowledging that the economic system has failed and needs to be improved.

The top Democrat in the House of Representatives made the comments before guests attending an event at the international affairs think tank Chatham House.

“In America, capitalism is our system, it is our economic system, but it has not served our economy as well as it should,” she said. “So what we want to do is not depart from that, but to improve it and to make sure that it serves us.”

The California Democrat further condensed the exploitation of the working class in America for the rich to make profit.


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

She further suggested that the economic system had to “work better for everyone, because we really do have to improve that, we cannot have an exploitation of our workforce.”

She made the remarks as a rift was growing among Republicans and Democrats over imposing higher taxes on the wealthier portions of the society amid the coronavirus pandemic, an idea promoted by President Joe Biden.

“This pandemic has been god-awful for so many reasons,” the US president said on Thursday. “But it does present us with an opportunity. We can build an economy that gives working people a fair shot this time. We can restore some sanity and fairness to our tax code. We can make the investments that we know are long overdue in this nation.” 

This is while tens of millions of Americans are at the risk of becoming homeless in large US cities due to America’s increasing inequality.

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