Old Capitalism is Dead, Long Live New Capitalism

#30 Kulharee, you have been discredited here time and again since you talk BS. People can see, regardless of whether they agree with me or not, that my arguments are anything but ``stupid``. You on the other hand support tyranny and with your lips firmly planted on George Bush`s A$$ you proclaim your patriotism even as these same people consider you a fourth rate citizen whose rights can be revoked at will and whom the other first class citizens, the white Americans are always suspicious of regardless of the frequency with which you kiss George Bush`s A$$. That said, keep far away from my posts as possible, you are a disgrace to humanity.

Re: # 29

Asadi Sahib, no one is questioning your right to say what you like (you live in a free and civilized society, you know). You have as much right to express yourself as did the Danish cartoonist, so no argument there. I, as a patriotic citizen of the Unites Sates feel compelled to point out to your usual rhetorical diatribe and unfounded garbage against my beloved country. But please by all means, continue to make yourself come across as an uneducated hate monger who is obsessed with the corporation while having absolutely no clue about it whatsoever. Having said that, I will be the first in line to support your freedom to express, no matter how stupid your arguments may sound.

#28, it is not quoted for you, please pass over all my posts. Where it comes to understanding the American political economy that book has no rivals in my opinion, ten or fifteen short quotes, supplemented with empirical evidence from today, from a 400 page book should not tire anyone. In any case, if my posts bother someone, just pass over them, wont require much effort. On the other hand, I will post whatever I damn well feel like posting.

Re: # 27
Asadi Sahib, have you ever thought of joing the Oprah Book Club? you have been quoting the same book since you started coming to Chowk. It is getting tiring you know.

Here is another example of the ``higher immorality`` fresh off the press in today`s news
http://news.yahoo.com/s/ap/20060206/ap_on_bi_ge/aig_probe

<<< NEW YORK - American International Group Inc., the giant property-casualty insurer under investigation for deceptive accounting practices, is close to reaching a $1.5 billion deal with federal regulators to settle the allegations, The Wall Street Journal and The New York Times reported Monday.

The Journal quoted unnamed ``people familiar with the matter`` as saying the deal, which could be announced as early as this week, would settle investigations by the Securities and Exchange Commission, New York State Attorney General Eliot Spitzer and the New York State Insurance Department.

The Journal said the payment of at least $1.5 billion ``would include disgorgement of allegedly ill-gotten gains and penalties.`` The New York Times put the cost of the settlement at about $1.6 billion, quoting ``two people briefed on the negotiations.``
>>>>>>

Another quote for which we have seen and see ample empirical evidence in this society:

``In a society in which money-makers have had no serious rival for repute and honor, the word ``practical`` comes to mean useful for private gain, and ``common sense``, the sense to get ahead financially. The pursuit of the moneyed life is the commanding value, in relation to which the influence of other values has declined, so men become easily morally ruthless in the pursuit of easy money and fast estate building.``

(C. Wright Mills, Diagnosis of Our Moral Uneasiness, 1952. Irving Horowitz, Editor. 1963:334)

If the photo embedded in #25 is not visible, it can be viewed by going to this address
http://politicaleconomy.50webs.com/immorality.jpg

Here is in addition to #20,






[quote]“Of course there may be corrupt men in sound institutions but when institutions are corrupting, many of the men who live and work in them are necessarily corrupted... Within the corporate world of business, war making and politics, the private conscience is attenuated and the Higher Immorality is institutionalized. It is not merely a question of a corrupt administration in corporation or army or state, it is a (institutionalized) feature of the corporate rich...deeply intertwined with the politics of the military state.” [end quote]

(C. Wright Mills, The Power Elite 1956:343)

Here is a link to the Forbes magazines Corporate Scandal Sheet for 2002 (one year) alone http://www.forbes.com/home/2002/07/25/accountingtracker.html . Look at the long list, for ONE YEAR alone, as empirical evidence for the 1956 Mills quote. You can access other info of interest at http://usa.asadi.org

Re: # 17

LOL. Good take, sir!

``When the Gates’ become Mother Teresa and the Google creators voice socialist dreams, the world seems to be flipping.``

Grammar alert: that should read the Gateses.

``Today, each (of India and Pakistan) is afraid that the other will somehow cheat, get richer or do better than their economy. It is easier to be dominated by the gora than the neighbour.``

Yeah right, the liberalisation and reforms post-91 are born out of India`s fear that Pakistan will get richer and do better. Sincere advice, don`t believe everything you read on chowk.

Saima,

I have a cow. Can I have your house please?

#19 bbabu states

<<< If the objective of a business is to maximize return on investment nepotism and cronyism disappears >>>>

Not so, cronyism and immorality of the higher form flourishes under capitalism. Just the one case of Enron or the Savings & Loan debacle in the US puts to rest half a century worth of the `petty corruption` referred to by behram1. Bush`s cronyism became headline news during hurricane Katrina and the nepotism of the US power elite is a well verified fact based upon their class consciousness.

behram1 #12

`` {Most profits are being made by using a country as a low cost producer. } So? What was the reference that generated this comment? ``

If a MNC can make $$$ using Pakistan as a low cost production base it is good for the MNC. It is good for Pakistan as long as they are no hidden costs - pollution, injuries to workforce etc. Why bash the MNC blindly ?

`` {It sounds like Soviet style planning.} Why do you suggest that? Pakistan`s comparative advantage is its unskilled people, which could generate enormous profit potential for the new investor, if their level of economy is exploited to the fullest potential. ``

There are plenty of unskilled workers around the world. You need to raise the education levels to 10-12th standard to go anywhere.

`` {There is a lot of nepotism and cronyism in businesses all around the world.} And? That is all the reason for Pakistanis to be able to get rid of that. However, equal opportunities should be provided to those who are disadvantaged for whatever reason. ``

If the objective of a business is to maximize return on investment nepotism and cronyism disappears. It is amazing when Intel, Microsoft have to maximize return on investment they do not mind moving to India to hire brown skinned code coolies.

This post was in response to bbabu in the ``Rise of Civilizations`` article. I got to read that late, so I`m posting it here as it is relevant to this discussion as well.

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

#31 you state <<< Donwturns in the US economy have been minimized by fed interference. Downturns hurt the poor more than the rich. >>>

Fed interference has taken the form of international wars as well, and fed interference is more socialistic than capitalistic even as they declare victories for capitalism. And no downturns do not hurt the poor more than the rich since a few elite have capitalized on all wealth, if the system collapses they lose big time while the poor, as Marx said, only lose their shackles when the system alters to one that is more equitable.

Then you state <<< If America collapses it will be because the vast middle class does not work hard enough for all the material goodies it consumes >>>

Not so, the middle class has been forcibly addicted through a massive advertising industry to over consumption. They are over consuming and thier consumption is helping the rich and keeping the growth rate in America high. The productivity of American workers is up, meaning that they are working harder, fewer have jobs because of the policies of the elite. So your sentence has zero credibility.

Then in #32 you write responding to me <<< `` Look at the poverty situation in India, it is getting worse not better.``

It is definitely not because of the IT boom. >>>

My point exactly. The so called IT boom that has created a nation of clerks and chaprasees of the American corporations affects a small percent of the population of India. It is benign as far as the nation goes. It does not alleviate poverty and does not benefit the masses. All this proud talk about IT is therefore BS

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No wonder we in the developing world are being duped by the MNCs... We do not even know how to calculate our share....:-)

``Of the $2.00 you spend, 25% is mark-up over the cost of the item......``

``Ok so from a $1.75, how much actually goes to the country......``

#14 Raw_Dustji
This neverending article reminds me of the tamil idiom about elephant dung - soooo much, but it`s still dung!