Tuesday, August 22, 2017

Greensboro, North Carolina; "Crony capitalism is the worst case in point"

"It is marked by contacts between businessmen, politicians, civil servants and the likes, used to override the law and to damage the freedom of enterprise and competition. In crony capitalism, everyone in the network is protected by his or her relations.

Both white and black on City Council vote for taxpayer monies
for those whose actions are opposite of elected officials stated values
in exchange for campaign contributions, 
uncorrelated by Greensboro's press

...Bunker’s Admonition: “You Cannot Buy Beer; You Can Only Rent It.”

As shown by the example of WalMart, the elites have actually driven wages so slow that workers cannot “reproduce their labor power,” and make up the difference with food stamps, etc. So much simpler and cleaner to leave Walmart wages alone (or even reduce them) and make up the difference with a 'Universal Basic Income'.

The rents keep flowing (especially to Silicon Valley entertainment firms, ISPs, search firms, and so on) and the Walmart workplace remains as horrid as ever! It’s a two-fer! UBI isn’t really an income; it’s a reconfiguration of rents.

How much does Marty Kotis pay his restaurant workers?

And you can bet the UBI will be tuned with a nicety never to allow working people to get their heads above water.

Roy Carroll and his apartment rent prices

...Market and competition rules are formally respected while overridden in substance, at the expense of ethics and legality.

...This will resonate with anybody who has familiarity with how business works in the so-called Third World, has returned to this country, and looks at the business news with fresh eyes.