Eternal Externalities

I recently was reading a comment that went something like, “If you have a *choice* between being a boss or being the member of a co-op, it makes sense to go with being a boss.” This (“boss” vs co-op) is an artificial choice that so many “libertarians” promote (by way of example, a union is simply an aggregate of workers taking advantage of their economic power, so libertarian opposition to unions is based largely on the interest in undermining that economic power, not on any ideals of “liberty”).

The argument goes on along these lines, “Political arguments that rely on people’s altruism are always a losing strategy.” But enterprises like co-operatives are not “altruistic”; in point of fact a very convincing argument can be made that co-operatives and the like are simply more adept at comprehensively addressing the complexity of positive and negative externalities that confront them. Let’s face it, the “real” downside of the laissez-faire capitalism that is the subject of so much concern today is the proclivity such corporation have for eschewing responsibility for externalities. And this practice is the crux of our willingness to privatize gain, and socialize loss.

While it may seem that an increasing number of people are espousing “Lotto Liberalism” (the peddled concept of striking it rich through hard work)it must become just as obvious that these people are frankly delusional. There is no point in trying to confront them with their delusion as it is well known that such praxis merely deepens the psychosis.

In Anchorage we have two electric utilities, one owned by the municipality which serves the urban core, and another, a co-operative serving everything else. The current Mayor proposed a sale of the municipal utility to the cooperative. This is a GREAT idea, but the outpouring of vitriolic rage based on the wholesale ignorance of the nature of these enterprises was dumbfounding. And of course none of the whingers knew anything about the Green Bay Packers or how the Golden Gate Bridge Construction was financed.

We have been conditioned to assume that all corporate bodies are evil, even when we are the corporate body, and that the only sentiment that we can trust is our own greed. And believe it or not, poor Adam Smith gets the blame for that crap, lol.

The manner in which too many of us talk about capitalism falls apart when labor owns the means and production, and there is nothing specifically anti-capitalist about such a practice. The problems lie in both the methods employed to keep labor from such ownership, and in the real underlying aspects of today’s capitalism, the abstraction and attenuation of financial products.

While it might be helpful to rage about capitalism, I don’t know that such rage can ever be converted to adequate regulation so long at those invested in escaping regulation have the power. On the other hand, I think the ouroboros offers a significant alternative; use the system to consume itself. Explain how to move people from complaining about Bank of America and WellsFargo, to using credit unions, and you are well on your way to changing the face of the USA. When we learn how to fund, protect, and employ pension funds as a tool in and of themselves to promotes the future pensioners, we will be on to something.

Leave a Reply



Your email address will not be published.

*