We try to keep things off politics here, but there are a few historical lessons relevant to us all.
The problems we are seeing today trace back to Raeganomics which was essentially de-regulate and drop taxes.
mises.org/library/sad-legacy-ronald-reagan-0
The problem with de-regulation, particularly in banking was that those regulations were put in place in the aftermath of the great depression. Sadly the lessons learned back then had been lost in the sands of time and the repeal of various regulations allowed the housing crash in the USA to happen.
Many of the leaders who have followed Raegan have done similarly. This article is titled "Trump’s proposing big tax cuts. Here’s what history says happens next"
www.linkedin.com/pulse/trumps-tax-cuts-m...agans-steven-rattner
You have to go, hey, it's never worked before, so why do you think it will work now?
In 1950 Frank W. Abrams, chairman of Standard Oil of New Jersey, voiced the corporate mantra of “stakeholder capitalism”: the need to balance the interests of all the stakeholders in the corporate family. “The job of management,” he wrote, “is to maintain an equitable and working balance among the claims of the various directly affected interest groups,” which he defined as “stockholders, employees, customers and the public at large.”
We don't hear that sort of sentiment anymore. It is all about maximising profits for shareholders (and CEOs) and Gilead is simply a symptom of that, not the root cause.
www.nytimes.com/2012/09/03/opinion/henry...pitalists-cared.html