>==================================
>NEW DEMOCRATS ONLINE
>-- NEW DEM DAILY --
>Pithy news and commentary from the DLC.
>==================================
>[ http://www.ndol.org ]
>
>09-JUL-02
>
>Fighting the Corporate Crime Wave
[...]
>More broadly, the scandals are a timely reminder that the
>economic life of the nation is not the private property of the
>business community.
They haven't got a clue, have they. That the economic life of the nation, indeed the whole world, is the private property of the owners, is the fundamental premise of capitalism.
The corporate scandals concern widespread theft of capital by corporate managers. These managers have used their position to transfer wealth from shareholders (owners of capital) into their own pockets by various fraudulent means.
Naturally enough, the original owners of the capital are not pleased. But the fuss has nothing to do with protecting the right of the public to control the economic life of the nation, a right the public has never had under capitalism. It is rather about protecting the rights of owners of capital to from fraudulent usurpers.
Bill Bartlett Bracknell Tas