[lbo-talk] Jayati Ghosh on the contradictory effects of tech change

Shane Mage shmage at pipeline.com
Mon Feb 15 21:31:19 PST 2016

On Feb 15, 2016, at 9:17 PM, Marv Gandall wrote:

> Corporations have a contradictory relationship to the state: They like state intervention which advances their interests, which is mostly the case, and oppose state spending on social needs which raises their cost of capital and taxes without offsetting net benefits to the system. They unanimously support the state’s bodies of armed men and the role played by the state’s governing parties as guarantors of the capitalist system. Wouldn’t we all agree with this?

Well, I for one would not. Corporations are not persons. They can neither like nor oppose anything. They are organizational structures, institutions granted a license to steal (called "limited liability") by the state, institutions through which certain specific capitalists' interests are promoted. The bigger the corporation the more likely those capitalists are to be siphoning the monopoly rents into their own pockets at the expense of their stockholders and of the rest of their class (aka taxpayers or the state).

Shane Mage

This cosmos did none of gods or men make, but it always was and is and shall be: an everlasting fire, kindling in measures and going out in measures.

Herakleitos of Ephesos

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