United Airlines and market socialism

Matt D. mattd at mc.rosenet.ne.jp
Mon Dec 9 19:35:10 MST 2002


The United situation is another excellent example of the mythology of
"ownership" and the ideological significance of the stock market in
obscuring actual class relations.  Marx, of course, made the point that the
actual function of  "small-investor" participation in capital markets is the
(re-)concentration of dispersed valorized surplus value in the service of
big capital.

Naturally, the folks who actually have to make this work cannot afford
illusions about "ownership" in their practical activity (regardless of how
much they may promote or even believe this b.s. at the level of ideas).  You
just have to take a look at the Delaware General Corporation Law, or the
Model Business Corporation Act, to dispel any foolishness.

-- Matt D.

P.S.  My opinion on this matter is completely unrelated to the fact that my
Fidelity IRA has lost about 80% of its value in the past couple of years.
:-)


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