Tom Shea (“Not much ‘common good’ these days,” July 7) blamed Democrats for economic ills such as high gas prices, inflation, etc. Solutions, though, require understanding. Every major economy has suffered from COVID’s impact on supply chains, causing high inflation rates. Energy and food costs have risen everywhere because Russia invaded Ukraine. Democrats didn’t cause these.
Regarding high energy costs, what we pay is dictated by the world market because we allow American oil exports. In 1975, exports of U.S. crude were banned to protect us from world supply shocks (like Russia’s invasion of Ukraine). In 2015, the ban was lifted. Now, oil corporations are making profits while we pay.
Similarly, the United States is the top exporter of liquefied natural gas. We pay more for our own natural gas to generate electricity and heat our homes because we allow it to be exported. A possible solution? Reinstitute the export ban, bringing down costs and promoting our common good. In our money-soaked political environment, however, it will never happen. Energy companies own our politicians.
Lastly, while average Americans struggle with rising costs, corporate profits are at a level “well beyond what we have ever seen” and they’re expected to keep growing. (Marketwatch, April 14) This is unacceptable. Good governance would ensure that everyone benefits from prosperity.
Instead of mocking our common good, prioritize it. Stop glorifying unfettered capitalism, which leads to extreme inequality while leaving average Americans struggling. Capitalism, as a monetary system, knows no patriotism nor cares about struggling Americans. It’s all about the money.
The solution for our current woes? Govern for our common good. It’s an approach born of a good grasp of what makes a democracy work alongside a deep love for fellow Americans.
Tricia Saenger
Temple