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AOC says capitalism is 'not a redeemable system,' calls for Facebook to be broken up

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Stefani Reynolds/Bloomberg via Getty Images

Rep. Alexandria Ocasio-Cortez said capitalism is "not a redeemable system" for Americans, and represents the "absolute pursuit of profit" at all costs.

"Capitalism at its core, what we're talking about when we talk about that is the absolute pursuit of profit at all human, environmental, and social cost," AOC said during a Yahoo Finance interview on Thursday.

Ocasio-Cortez claimed that capitalism empowers only a "very small group of actual capitalists," who she said "have so much money that their money makes money and they don't have to work."

"They can control industry, they can control our energy sources, they can control our labor, they can control massive markets, that they dictate and can capture governments, and they can essentially have power over the many," AOC said of the small group of "actual capitalists." "And to me, that is not a redeemable system for us to be able to participate in for the prosperity and peace for the vast majority of people."

The New York democratic socialist cited the Koch family, and criticized them for "having control over the vast majority or large plurality of our oil assets in the United States."

"Private families having control over means of production, that is essentially the capitalist system that we live in," AOC told host Andy Serwer. "It is a small group that is of privatized control over what we eat and how we fuel our society."

AOC proclaimed that she wants to break up Facebook, which she accused of having "completely corrosive ways."

"Facebook should be broken up," Ocasio-Cortez declared. "We should pursue antitrust activity on Facebook."

She said Facebook acts as a communication platform, advertiser, platform, and vendor.

"And so because they are so many businesses and industries in one, the case is, I believe, right there in and of itself as to why they should be subject to antitrust activity," she remarked.

AOC blamed Facebook for exporting disinformation, which she said has "absolutely slowed and frankly sabotaged the global effort to fight against the coronavirus."

Serwer asked AOC about why Congress hasn't passed a ban on its members trading stocks.

"Well, it's not it's not really a mystery to me why it's difficult to pass," Ocasio-Cortez responded. "An enormous amount – I wouldn't be surprised if it was a majority of members of Congress hold and trade individual stock. I don't know the actual numbers. But it is a very large degree."

"Members of Congress have access to very sensitive security clearances. We have access to very detailed tailored briefs. Our job is to try to anticipate and legislate for what we see as coming," AOC stated. "And we should not have the ability to both have access to that information and be able to hold and trade individual stock. And that's really what this is about. It's about our ability to direct and hold trades in individual stock with access to the sensitive information that the public has given us."

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