Carole Cadwalladr and her cohorts keep on exposing the depth of corruption at the top. The fact that tech behemoths treat fines and court settlements simply as the cost of doing business underscores the ineffectiveness of legal redress. Corporations are treated as having the same rights as individuals, yet when they are capable of irrevocable harm, they should forgo their rights to liberty in the same way that an individual may face prison. Equivalence would be achieved if in the event of criminal negligence, corporations could be forced to cede their equity rights to the state. CEOs and boards would then be accountable for the risks that their corporations pose if they knew that their entire assets could be forfeited in the event of foreseeable harm to the community ( as in China). Capital would then be answerable to the community. There are precedents. When fraud is committed, a court appointed administrator may step in to see that compliance measures are carried out, directors get disqualified or companies wound up. Surely that threshold has already been breached with scandals in the tech space that have been exposed.
There is one small, teeny-tiny but very important detail usually overlooked in Classical Liberalism and its ideas of "free markets".
It is all predicated on capitalist, private, worker-owned cooperatives being the norm.
At that point all the claims made for this model comes true - increases in productivity really does improve the lives of workers, increases in profitability increases wealth for them to spend, 'virtuous cycles' pop up everywhere.
It's the key that makes the whole model work.
Worker-owned, rather than feudal minority owned. It's there in Smith, if you look hard enough and draw 2+2 from the theory he does give.
Now, how different the World would look with that small change, eh?
https://broligarchy.substack.com/p/meet-the-real-ai-rogue-agent-lord?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2c74cfb6-863b-4bb2-aaeb-7170831a19fd_2240x896.png&open=false
Carole Cadwalladr and her cohorts keep on exposing the depth of corruption at the top. The fact that tech behemoths treat fines and court settlements simply as the cost of doing business underscores the ineffectiveness of legal redress. Corporations are treated as having the same rights as individuals, yet when they are capable of irrevocable harm, they should forgo their rights to liberty in the same way that an individual may face prison. Equivalence would be achieved if in the event of criminal negligence, corporations could be forced to cede their equity rights to the state. CEOs and boards would then be accountable for the risks that their corporations pose if they knew that their entire assets could be forfeited in the event of foreseeable harm to the community ( as in China). Capital would then be answerable to the community. There are precedents. When fraud is committed, a court appointed administrator may step in to see that compliance measures are carried out, directors get disqualified or companies wound up. Surely that threshold has already been breached with scandals in the tech space that have been exposed.
Awesome headline!
There is one small, teeny-tiny but very important detail usually overlooked in Classical Liberalism and its ideas of "free markets".
It is all predicated on capitalist, private, worker-owned cooperatives being the norm.
At that point all the claims made for this model comes true - increases in productivity really does improve the lives of workers, increases in profitability increases wealth for them to spend, 'virtuous cycles' pop up everywhere.
It's the key that makes the whole model work.
Worker-owned, rather than feudal minority owned. It's there in Smith, if you look hard enough and draw 2+2 from the theory he does give.
Now, how different the World would look with that small change, eh?
What is your take on co-op?
Where workers own and run a company. Shared
They decide together when it's time to hire a co worker, and all workers have the same wages.
I brutally simplified it ...
Big one.
In the financial world, coops are penalised, they're restricted in what they can borrow and dividends, etc. Deliberate, of course.
Yeah but if greed is not your goal this could be a way to start a parallel economy as a group.
There will be new challenges but im thinking how to escape the big corporate trap.
Not shure what it takes to start from scratch tho..
Interesting article. Thank you. Please provide an other online bookstore like bookshop.org - instead of getting Amazon more costomers. 🌸
Will do