It’s time to restore corporate power to the people by blasting through the myths about how corporations should be run, and for whom.
This article, by an economist who specializes in corporate wealth, with two talented journalists sitting-in, absolutely destroys one of the most enduring and rapacious myths to be found anywhere: that public corporations are market-driven examples of "free enterprise" at work.
I was planning on doing a kind of explainer site on just this topic this year, so this article landed at just the right time, and in just the right place: my laptop. It's absolutely required reading for anyone who has never fully understood just why "public" corporations behave like private ones, and are so beholden to their shareholders, board members and senior management, many of whom live way up there atop that cherished 1%, and mostly at the expense of all of the rest of us.
Unfortunately, while chock full of important facts and historical sound bites,like so many other articles of its type, it is fatally flawed in the remedy department. Such works do a reasonably good job of diagnosing a problem, but any attempt at even guessing about remedies is relegated to afterthought; something left to those mysterious "other voices" we never seem to hear much from. The authors toss in a smattering of events or movements like May Day and Occupy Wall Street as things we can do to fight back against this contemptible state of corporate hegemony run amok. All of them romantic, perhaps, but ridiculously timid when not already proven to be woefully ineffectual. Perhaps the authors are writing a book and saving the juice for later.
Since authors of their caliber can't afford to spend too much time truthtelling, we really need to find a way to crowd-source intelligent discourse about our problems.The cost of producing human knowledge is high, and the cost of distributing that knowledge is even higher. All the free Internet in the world won't provide the promotion and awareness of the important words and ideas that need widespread exposure.
And so long as nothing is doing that, the people who profit from our collective ignorance and inaction will thrive. At least until the entire system breaks down completely. And that, I fear, is a day not too long in coming if we don't find ways to channel our anger into effective social action that can do even the simplest of complicated things. Things like regulating about 900 massive Public corporations to reduce their self-serving ways as they are so well described in this article. It would be a nice start. And we need a nice start. No, I mean we really need a nice start.
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