unions

Doug Henwood dhenwood at panix.com
Thu Aug 15 09:08:34 PDT 2002


billbartlett at dodo.com.au wrote:


>They've figured it out, its the people who want to be capitalists
>that are trying to figure it out. Which audience was your book aimed
>at

Anyone who can read at the 12th grade level or better.


> and how much money did you make out of it?

That's a pretty fucking charming question.


> >Really? By buying already-existing shares of stock? Do tell how.
>
>I should have thought this was elementary.

Indulge me. I'm thick.


> They contribute capital to the capital-labour relationship by
>requiring their wage slaves to work in the factories (or whatever)
>the corporation owns. Whether a capitalist buys already existing
>stock, or floats new stock, really makes absolutely no difference.
>Why do you imagine it would?

It makes no difference whether one buys a share of stock 1) in an IPO that goes to a venture capitalist to cash out of his/her original investment, 2) in an IPO that goes to the company to buy equipment and hire noew staff, 3) from a retiree who uses the proceeds to pay for basic living expenses, 4) from a retiree who uses it to buy an SUV, 5) from a worker who uses the money to pay the kid's college tuition, 6) from a mutual fund manager who uses it to buy stock in another company (after shaving off 1% as a management fee)?


> >> As a capitalist she didn't have to work and her best interests
>were served by hiring people who were better qualified to manage the
>business.
>>
>>Oh, like Jeff Skilling?
>
>Who's Jeff Shilling?

Skilling. Major perp at Enron.


>Most small businesspeople are objectively working class for a start.

Maybe in Australia they are, but here in the USA they can be dreadful reactionaries.


>But I'd be fascinated to learn more about what you think on this.
>(Don't get your hopes up though, I'm not in the market for a book.)
>;-)

Evidently not.


>Direct, indirect, what's the difference?

That's the beauty of essences - you don't have to trouble yourself with details.

Doug



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