Ratigan: Thanks to Corporate Communism, $24 Trillion Is Being Sucked Into A Broken Banking System At Our Expense
Dylan Ratigan’s guest column at the Daily Bail calls out “corporate communism” and makes some pretty powerful arguments: If you allow weak, outdated players to take control of the government and change the rules so they are protected from the natural competition and reward systems that have created so many innovations in our country, you not only steal from the citizens on behalf of the least worthy but you also doom them by trapping the capital that would be used to generate new innovation and, most tangibly in our current situation, jobs. We are losing the opportunity cost of all the great ideas that should be coming from the proper deployment of that 23.7 trillion in capital. Everything from innovation in medical delivery systems to accessible space travel, free energy to the driverless car; all of these things may never come to bear because those powerful individuals who have failed, been passed over by technological advancements, innovation and flat-out smarts, have commandeered our government to unfairly sustain their wealth and power. Unfortunately, they use our wealth and laws not only to benefit their outdated, failed companies, but also spend a small pittance of their ill-gotten gains lobbying and favor-trading with politicians so the government will continue to protect them from competition and their well-deserved failure. The massive spike in unemployment, the utter destruction of retirement wealth, the collapse in the value of our homes, the worst recession since the Great Depression have all resulted directly from the abdication of proper government. Even with all that — the only changes that have been made, have been made to prop up and hide the massive flaws on behalf of those who perpetuated them. Still utterly nothing has been done to disclose the flaws in this system, improve it or rebuild it. Only true rules-based capitalism ensures constant adaptation and implementation of the latest and best practices for a given business, as those businesses that don’t adapt fail, and those who deploy the latest innovations to their customers benefit, prosper. The concept of communism is rightly reviled in this country for the simple reason that it is blind to human nature, allowing a small group of individuals near-total control, while sticking everyone else with the same crappy systems — and the bill. America spent countless lives and half a century fighting against this system of government. So why are we standing for it now? Sounds like Ratigan’s right in line with an essay George Soros wrote back in 1997, “The Capitalist Threat” in which he called “untrammeled capitalism” the biggest threat to an open society. I thought it was an interesting idea at the time, but now? Can’t argue a bit.
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on January 12, 2011. Filed under