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Lorenzo's
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. . . about Chaos,
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10 Lessons from the Corporate Collapse
(David MOberg, In These Times, September 25, 2002)
There are many lessons to be learned from the collapse of the bubble economy and the scandals of corporate financial skullduggery, but the White House hasn't learned any of them. Here are 10 for starters:
1. There is no new economy.
2. The crisis is not the result of a few bad apples.
3. Banish the cult of the invincible CEO.
4. Regulation is good.
5. Regulation must go global.
6. Let the sun shine in.
7. The economy should serve real people and real needs.
8. Stop shifting risk.
9. The corruption of politics by corporate money is bad for democracy -- and the economy.
10. It's the powerful versus the people.

For the past three decades, the powerful have waged a very successful but "one-sided class war" (in the words of former United Auto Workers President Doug Fraser). Of course, it has been fought in different terms -- against big government, taxes, regulations and inflation, but for free trade -- and it has hidden under many other banners (including a wide variety of social issues like gun control and abortion that obscured the economic agenda of the powerful). . . . There has been a much less vigorous effort to mobilize the people to curtail the powerful and keep them socially accountable. The final lesson is that the times and popular sentiment may be as ripe as any in decades for reviving that old populist message.

posted by LoZo 6:07 PM