Speaker Pelosi Says Capitalism Hasn't Served U.S. Economy Well

Capitalism has not served the US economy as well as it could have, US House of Representatives Speaker Nancy Pelosi said on Friday, saying that the system needed to be improved, Guy Faulconbridge and William James reported for Reuters.

Photo Insert: Speaker Nancy Pelosi

"In America, capitalism is our system, it is our economic system, but it has not served our economy as well as it should," she told a Chatham House event.

"So what we want to do is not depart from that, but to improve it."

She added: "You cannot have a system where the success of some springs from the exploitation of the workers and springs from the exploitation of the environment and the rest, and we have to correct that."

A large segment of the US Democratic Party has warned that rather than spreading the fruits of labor, the US capitalist system has made more billionaires and punished the workers by paying their tax bill at the workplace while billionaires get tax exemptions and rebates.

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