[lbo-talk] Compassionate Capitalism

brandelune at gmail.com brandelune at gmail.com
Wed Mar 9 21:10:19 PST 2011


On 10 mars 11, at 14:03, Joanne Landy wrote:


> Michael,
> This was hilarious and I wanted to read more, but couldn't get to the wordpress file -- the denial message said I wasn't entitled to edit. (all I wanted to do was read)

Indeed, Micheal linked to the admin page. The article is here:

http://michaelperelman.wordpress.com/2011/03/10/compassionate-capitalism/

JCH


> -Joanne Landy
>
> At 08:03 PM 3/9/2011 -0800, you wrote:
>> One must admire the extent of compassion expressed by the captains of capitalism. Some people unfairly snickered when George Bush declared himself a compassionate conservative, but is a passionate advocate of business his description may have been accurate.
>>
>> Despite all the talk about greed being the fuel that drives capitalism, profits are virtually irrelevant. As an act of philanthropy, corporations scatter much of their profits in less developed areas, such as the Grand Cayman Islands and Bermuda.
>>
>> As further evidence, I read today that the Bank of America is reluctant to lower the value of its own loans out of compassion for the people who stayed up-to-date with their payments. After all, one of the motives for subprime loans was to meet the desires for people who wanted enjoy homeownership.
>>
>> Similarly, business opposes minimum wages of compassion for workers who might lose their jobs. For the same reason, business reluctantly accepts tax breaks only because it allows them to help unfortunate workers who might find themselves without a boss. The same motives explain why business fights so heroically against regulation.
>>
>> more at
>>
>> http://michaelperelman.wordpress.com/wp-admin/post.php?post=1915&action=edit&message=6



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