rights, rights, and still more rights

Shane Mage shmage at pipeline.com
Wed Apr 3 21:43:13 PST 2002



>>Justin:
>> You wrote "...the liberal democracy that we have..."
>>Please enlighten me as to the difference between a
>>liberal democracy and a neoliberal plutocracy. I hope
>>you're convincing. I'm really tired of the awareness
>>that what we live under is a neoliberal plutocracy
>>that has long been becoming ever more illiberal
>>(though not more plutocratic, which would be
>>mathematically impossible).
>
>I'm not naive. But we do have:
>
>(1) Semi-competitive elections with freedom of association, not an
>officially one party state.
>
>(2) Universal suffrage.
>
>(3) Extensive civil and political liberties (quite real).

That's the [neo]liberal part


>You cannot surpass me in the depth of my cynicism about the extent
>to which the rich rule things...

And that's the plutocracy.

Where, pray tell, is the *democracy*?

Moreover:

A corporation is an unambiguously plutocratic institution. But as a [infinitesmally small] shareholder I have all the rights you outline in your three points: I can vote to elect directors and associate with other shareholders to propose or oppose resolutions; all shareholders can vote; I can, individually or in association with other shareholders, express my views to the directors at any time and on any issue without fear of reprisal. And beyond that I have rights in regard to "my" corporation that don't exist in "your" liberal democracy: my vote is sure to be counted honestly, and I can go to the courts to sue "my" directors if they have lied to me about anything materially affecting my interests as a shareholder or even to enforce their "fiduciary responsibility" to exercise their power in the interest of the shareholders rather than in their own interest. But, of course, my vote counts exactly as little in the corporate as in the "liberal democratic" context.

Shane Mage

"Thunderbolt steers all things."

Herakleitos of Ephesos, fr. 64



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