Michigan Senate candidate Abdul El-Sayed is making the case for reforming capitalism rather than abandoning the system altogether.
El-Sayed argues that the United States is no longer practicing traditional capitalism, but instead operates under what he calls “corporatism.” According to El-Sayed, companies have become large enough to eliminate competition while also gaining the ability to purchase political influence.
His argument centers on what he sees as a need to properly identify the problems within the economic system before attempting to fix them. El-Sayed says progressives can become too focused on defending political slogans instead of examining what is actually broken.
He compares his approach to that of a doctor, explaining that problems should be diagnosed by looking at symptoms and tracing them back to their root causes.
Rather than advocating for the destruction of the existing economic system, El-Sayed’s position emphasizes addressing the forces that have allowed corporations to become increasingly dominant and influential.