[Marxism] Capitalists are selfish

LouPaulsen LouPaulsen at comcast.net
Mon Jun 7 06:50:07 MDT 2004


Always interesting to see someone reinvent Marx's wheel...
LPa


NY Times "Money" magazine 6/6/04

"Investors, in their shortsightedness, encourage companies to neglect their
social responsibility. Actually, the view emanating from the Google
boardroom is harsher than that: the founders [of Google] clearly believe
that investors require corporate executives to sacrifice their souls."   ...

"This otherwise innocent letter to stock-market investors turns on its head
the moral verdict of the Internet boom: in the world according to Google,
investors aren't victims but perps. The reader finishes the thing with a
novel thought: pity the poor corporate C.E.O.! He may genuinely want to make
the world a better place. He may genuinely dislike his moral climate. But
the atmosphere created by investors for investors requires him continually
to mollify these awful, greedy little people who have done nothing but put
up some money and who care about nothing except next quarter's earnings."
...

"Of the roughly $19 trillion in American investment capital, in other words,
$17 trillion or so is invested with the implicit instruction: ''Just give me
back as much money as possible. Gouge consumers, cheat employees, poison the
environment, lie to the public markets -- just do it all sufficiently
artfully that it doesn't dent my portfolio.'' Then, when the market falls
and one of the people on the receiving end of their beastly demands is
caught behaving badly, investors collapse to the floor in disbelief and bay
for their money back."  ...

"Extreme self-interest is what most investors demand from their
corporations. But if goodness for goodness' sake has no place in public
corporations, is it any wonder that the people who work for them exhibit
less-than-ideal ethical standards? For that matter, is it surprising, given
their necessarily relentless selfishness, that they occasionally forget
exactly for whom they are meant to act selfishly? The pressure applied to
people who run public corporations almost requires them to forget how to be
good."









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