Uncommon Sense

August 29, 2021

The Corporate Takeover

Filed under: Uncategorized — Steve Ruis @ 10:40 am

What comes to mind when you read the words “the corporate takeover?” Maybe it is one corporation buying another. Microsoft was so famous for doing this that smaller companies had business models with the goal of being bought by Microsoft. Maybe you think of “private equity” firms taking over healthy corporations and stripping them of assets. Private equity is a euphemism for wealth from wealthy assholes, by the way.

But none of those is the topic of this post; small potatoes they are. I am talking about the corporate takeover of an entire culture, specifically that of the U.S.A.

Allow me to explain.

This country is current a plutocracy; it is run by the rich for the rich. The ranks of millionaires and billionaires has swollen over the past 50 years, and the bulk of these newly rich are . . . corporation executives.

These executives have the temerity to call themselves business leaders. Groups of them are invited to the White House to “advise” the President. Corporate bankers, like Jaime Dimon, CEO of JPMorgan Chase, assume they have access to the President on short order. Why is this so? What do they have to offer? They may know a fair amount about running their own companies but the broader issues are largely beyond their ken. (They have predicted exactly zero of the past ten recessions, for example.)

And leaders . . . really? Leaders of what? Certainly not of our communities or regions, or even sectors of the economy. These are the very same people who supported the bogus economic claim that a corporation’s only obligation was to enhance shareholder value. The executives glommed onto this idea because more and more they are paid in shares of their corporation’s stock. So, they used that “principle” (It isn’t a valid principle, but it is a principle.) to wean corporations off of their previous goal sets, which included goals directed at being good members of their community and to line their own pockets.

These people are leaders, sure, leading to the elimination of any competition their companies might face and toward greater and greater profits, no matter who they hurt. But anything else? Not hardly. The President would be better off inviting successful college football coaches to the White House. At least he might get some tips on making his team stronger. I suspect these “titans of industry” are invited only to keep them donating to the various campaigns of the politicians kissing their asses.

It was not that long ago (I was alive) that corporations had goals of providing good jobs, being a good member of their communities, etc. The CEO’s of companies did well economically but they didn’t become members of the plutocrat club. Corporations weren’t allowed to vote and didn’t have free speech rights. Their ability to make campaign donations was quite restricted. All of those aspects of corporations have gone by the wayside. The Powell Memo was the death knell of liberal democracy. It was a roadmap for the corporations to take possession of the American government system.

The first to cave in was the Republican Party, the GOP, or should I say the GQP, the political party that has conspiracy theories for a heart (Q-Anon, etc.). The Democrats, starting in the late 1970’s became the Corporate Democratic Party. The two together managed to pack the courts with distracters and corporate flunkies. If they aren’t supporting corporations over citizens, they are making decisions that rile up many, many people so that whatever the corporations are doing under and over the table is basically invisible.

The big question is: what are we going to do about this state of affairs? So far, we have adopted the stance of receiving a prostate exam. This is not very promising. Are we all so willing to trade in the American Dream for this corporatist nightmare, all for an iPhone 13? Is our price so low?

If you wonder why our lives are so chaotic and seemingly so small compared with the not too distant past, why our children face a future that promises they will be poorer than we were, the answer is corporatism, a plutocracy being run by rich corporation executives whose goal is to become personally richer than Midas, and to Hell with the rest of us. Wake up, people.

3 Comments »

  1. I suspect these “titans of industry” are invited only to keep them donating to the various campaigns of the politicians kissing their asses.

    You suspect???

    Like

    Comment by Nan — August 29, 2021 @ 10:54 am | Reply

    • Having never met any of the referred to, I cannot be sure. :o)

      Liked by 1 person

      Comment by Steve Ruis — August 29, 2021 @ 10:55 am | Reply

      • I have met a few of them and Nan’s right. Our then governor Walker was best buddies with this fellow, at least in public, but as soon as he was out of earshot he was complaining what an idiot Walker was and Walker was complaining what an ass he was. They hated each other but Walker needed his money and he needed Walker’s influence to try to break the unions in Wisconsin.

        They have a sort of symbiotic relationship, the politicians and the privileged. They hate each other but will work together for their mutual benefit.

        Liked by 1 person

        Comment by grouchyfarmer — August 29, 2021 @ 10:32 pm | Reply


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