Thursday, March 5, 2015

The following post was prompted by The Guardian article linked below:

This excellent bit of British and Indian history ought to have been more than ample incentive for the West to accept the notion that Capitalism cannot ever be trusted. If the "Great Depression" hadn't been enough, The "Great Recession" of 2007 to 2009 would, to any normally observant human, as a case of "Fool me once shame on you. Fool me as many times as you please again shame hardly even begins to cover what we should be considering of ourselves." That this has not been the case should be are real cause for concern here. For, truly, we do not seem to be observant in any normal sense at all any more. And more's the pity.

That we can now, also, frame an argument based a good deal more on the objective facts of what the electrification of experience retrieval has done to the nature of not only work, but of what has become of money and information, ought to be pouring salt on an open wound. For now, not only is Capitalism not to be trusted, it is also fundamentally obsolete. An obsolescence that is completely antithetical to further human evolution; both in terms of individual advancement as well as more effective social organization.

I will leave you now with one quote from this article:

"...The 300-year-old question of how to cope with the power and perils of large multinational corporations remains today without a clear answer: it is not clear how a nation state can adequately protect itself and its citizens from corporate excess. As the international subprime bubble and bank collapses of 2007-2009 have so recently demonstrated, just as corporations can shape the destiny of nations, they can also drag down their economies. In all, US and European banks lost more than $1tn on toxic assets from January 2007 to September 2009. What Burke feared the East India Company would do to England in 1772 actually happened to Iceland in 2008-11, when the systemic collapse of all three of the country’s major privately owned commercial banks brought the country to the brink of complete bankruptcy. A powerful corporation can still overwhelm or subvert a state every bit as effectively as the East India Company did in Bengal in 1765..."


The Mughal emperor Shah Alam hands a scroll to Robert Clive, the governor of Bengal, which transferred tax collecting rights in Bengal, Bihar and Orissa to the East India Company.

The East India Company: The original corporate raiders