Thursday, September 18, 2008

CEO's as Pirates

Vox Popoli
The executive class is not, for the most part, capitalist, it can be more accurately understood as a sort of pirates union that is loosely allied in common cause against the capitalists who actually own the companies that they are systematically pillaging under the guise of "managing" them. Until this distinction between executives and owners is properly understood by the American people, the irresponsible rape-and-pillage will continue to the detriment of the shareholders, the employees, the economy and even the government.

Interesting view of the executive class.  Seems they are about as useless as the current political class.  Easy access to Other People's Money (I heard Sarah Palin call it OPM the other night on Hannity) is at the root of both the executive and political failings.

Vox Day argues this is not "a reflection of the free market" and that government intervention has allowed this.
Their power is the result of government interference in the free markets
I can see this as a micro argument but it seems to me that, at a macro view, this is the free market at work.  "They" will take what they can get away with - what the market will bear.  Government interference is part of what defines the current "market".  When the shareholders decide this is no longer acceptable, they will influence the market to change.



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I hope this blogs generates discussion about the important topics of our time. Reasoned disagreement is encouraged. Clarity is important