Steve_American wrote:I just read the last page of replies, i.e. this page.
In other threads I said that China can buy stuff in America. I said a lot of farm land, and then just not plant a crop.
In any case, the US could before the WTO regulate foreign ownership, now it would have to (AFAIK, IMHO) break the treaty.
IMHO, the basic problem is 2 assumptions of neoliberal economics ---
1] Corps. can only have 1 goal and it must be profits at all costs to pay to the stockholders.
2] That if everyone is selfish to the maximum amount, then this will result is the BEST POSSIBLE outcome.
Neither of these is true.
I had to go before I finished. Let me add ---
1] The 1st is false, because from 1776 to 1976 all the state laws demanded that corps. do buisiness in the public interest in exchange for the protection (in case of bankrupcy) that corps. gave by law to their owners, the stockholders. The corps. didn't like having to consider anything except their selfish interests. So, as it become clear the CO2 was going to cause global warming, they saw a
real need to get out from under the requirement to do their business in a way that furthered the common good in addition to making a profit.
2] The 2nd is obviously false, unless you grant some exceptions. Some exceptions that must be in effect are --- a] robbing rich people at gun point is obviously good for the robber, so this must be an exception. b] Attacking the rich man's wife or daughter for sex is good for the man doing the assaulting, so it also must be an exception. c] Not fulling the terms of a contract is obviously good for the violator, so it must be an exception. Gee, so many exceptions.!!
. . . Now that we are allowing exceptions, why not add these? a] Corps. must not pollute the environment so as to cause climate change. b] Corps. must pay their workers enough so that they can buy all the stuff the corps are making and wanting to sell to them. It is impossible for the economy of a nation to be in equilibrium if the rich keep gaining a bigger percentage of the national income. At some point the workers will not be able to live on what they earn. If the corps. don't do this, it is NECESSARY for the GOv. to tax more of their income away and give it to the bottom income earners, so the money can flow back through the economy up-back into the hands of the corps. and the rich people who own them.
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