JS wrote:
>Actually, this is cheap cynicism that shows a
mistaken grasp of the nature of markets and business
activities. Business runs mainly on trust ...
John Thornton replied:
Untrue. If this were true contracts would not be
necessary. Contracts are insisted on because of lack
of trust.
snip...
I operate on trust where friends and family are
concerned. Everyone else gets to sign a contract. When
lending institutions dismiss with contracts
and simply lend money mostly on trust you will be
correct, until then you are mistaken.
John Thornton
*****************************************************
Good points John!
Yes, capitalists need the potential violence inherent in the State to protect themselves from each other's propensity to rob and cheat. After all, the wages system is based on robbing the producing class. The capitalists are conscious of this as a class, even if the workers are not. Of course this kind of stealing is not recognized as immoral or illegal--yet. The people who make history may have judged that chattel slavery is both illegal and immoral, but not wage-slavery--oh no. Therefore, the capitalists need to hire a lot of corporate lawyers to protect themselves from each other and make sure the game is being played fairly, including the game of paying "fair" wages to the producers of the wealth they accumulate.
Mike B)
===== To the fervent proponents of ruthless corporate capitalism I say: make a millionaire CEO live as a poor sweatshop worker in Indonesia for one month and then ask him about the merits of the world economic system.
-- Vassilis Epaminondou http://profiles.yahoo.com/swillsqueal
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