Apr 2, 2025 By Nick Jacobs 4 min read

Capitalism recognizes individual effort, private ownership, and the pursuit of financial independence through hard work, innovation and competition. Unregulated savage capitalism prioritizes profit over social well-being.

A businessperson I knew bragged about an investment, a for-profit women’s prison. When I mentioned the legalization of marijuana, he angrily said, “I don’t want those laws to change. I want my beds full.” This mindset exposes the perverse incentives behind private prisons, where profit depends on maintaining or increasing incarceration rates.

The United States already imprisons more people per capita than any other nation, and cases like Pennsylvania’s “Kids for Cash” scandal-where a judge took bribes to send juveniles to private detention centers-demonstrate how profit-driven justice leads to corruption and suffering.

Nearly 90% of individuals detained by U.S. Immigration and Customs Enforcement (ICE) are in for-profit detention centers.

Corporate influence over politics has fueled economic inequality. The Supreme Court’s Citizens United decision in 2010 gave corporations the right to donate unlimited funds to political campaigns. This decision amplified corporate influence over our politicians, and we began to see them prioritize corporate donors over their constituents. This ruling has resulted in deregulation in industries where public interest should take priority, such as housing, health care and education.

In recent years, venture capital firms have bought residential properties and converted them to rental units. This drives up housing costs. We can’t blame slumlord practices only on large corporations, but this has exacerbated the problem and left many unable to afford homeownership. That, in turn, forces lower-income families into perpetual rent cycles while the investors accumulate wealth.

Private equity firms are buying hospitals and health systems that often prioritize profits over patient care by cutting staff and services and, in some cases, bankrupting them. That maximizes returns while contributing to lower scores and higher mortality rates. Many are selling their properties to real estate investment trusts that lease them back at inflated prices, increasing health care costs. The result is a system where health care is a commodity rather than a fundamental right, with affordability taking a backseat to corporate earnings.

Education has also fallen to venture capital as private equity invested in education at all levels. Many of these schools target low-income students with promises of upward mobility but deliver subpar educations that leave the students in debt. Even at the K-12 level, some charter schools prioritize profit over student success. This extracts value from the system and leaves many students worse off.

Private equity firms and investment funds have also taken over toll roads, utilities, and other essential public assets, often prioritizing short-term profit over long-term affordability. The result is higher costs and lower public control.

Some food corporations formulate products high in sugar, salt, and fat to make the food irresistible and super-palatable. And tobacco companies still profit from addiction while causing thousands of preventable deaths annually.

Even social media, intended originally to connect people, has designed its algorithms to leverage dopamine pathways in the brain’s reward system to maximize the user’s engagement while contributing to mental health issues. These algorithms have caused increased suicide rates among children and teenagers, but companies continue to prioritize growth over user well-being.

At its core, savage capitalism allows corporations to set prices based purely on profit motives while disregarding affordability or public interest. It also widens the wealth gap as the top get richer, and the working class struggles to keep up with rising costs. It erodes trust in public institutions and makes it hard to believe that the government can serve their interests.

I’m not arguing against capitalism but against its most unregulated forms. A well-regulated market ensures that essential services remain accessible, and the power of corporations does not override the public good. We need policies that protect consumers, regulate corporate influence, and restore fairness to our capitalist system.

Demand that our legislators prioritize public welfare over corporate wealth. Greed can be fatal.