Posts Tagged ‘Corporatism’

Globalization’s Mausoleums: The Former Factories of the Rust Belt

April 8, 2015

At any street corner the feeling of absurdity can strike any man in the face. – Albert Camus

 

 

The story that follows isn’t unique to this Rust Belt city.

It has occurred, over and over, across the Rust Belt – across the U.S. – for the past 35 years.

What’s amazing is it is still unfolding.

What’s even more amazing is how complacent everyone has remained.

About the loss of jobs.

About the weak or non-existent development efforts for local economies.

About how the U.S. will sink into serfdom, not by the threats of socialism (as Hayek suggested)…

…but by the reality of our apathy, our denial, or our ignorance.

I simply wanted to commit this story to writing, as a way to preserve it, in case anyone ever asks, “What happened?”

That is, if there is anyone left who cares enough in the future to ask.

No one is asking now. [1]

Globalization’s Mausoleums

The spirits of past General Electric workers reside here.

Bldg Demolition

This is one of the buildings currently under demolition at General Electric’s Broadway campus in Fort Wayne, Indiana. To the right is an opening where another GE building, of similar size, once stood.

Last year, GE closed down a testing lab, the last operation of any kind on the campus. It employed some 28 people at the end.

At its height, General Electric employed over 10,000 employees in Fort Wayne; almost all were well-paying jobs.

(more…)

Decentralizing economies.

December 3, 2014

Over Thanksgiving break, a vandal scrawled the following graffiti across an exterior wall at Indiana University’s Kelley School of Business:

“Fuck Capitalism.”

It may be a convenience for a graffiti artist to use “capitalism” as a monolithic term – just as “socialism,” “communism” or “anarchism” are treated in the same fashion – but it is indeed small minded to maintain this monolithic treatment within serious discussions. There is – surprise – more than one type of capitalism, and the time to discuss the alternatives has arrived, now.

The attempt to erase the "Fuck Capitalism" sentiment, added to the Kelley School of Business in November 2014, was in vain.

The attempt to erase the “Fuck Capitalism” sentiment, added to the Kelley School of Business in November 2014, was in vain.

The arguments against (centralized) capitalism are numerous, and the examples of the dysfunctional nature of centralized capitalism – as it has emerged over the past couple of centuries – are readily found. But I remain supportive of (decentralized) capitalism because I believe there is something intrinsic in the nature of humanity that desires recognition for one’s efforts.

Sadly, this “recognition” has been translated by centralized capitalism to mean one’s salary, but that is a very empty translation. We can live in trendy neighborhoods, drive expensive vehicles and join the exclusive clubs but at the end of our lives, on our deathbeds, we realize we were just another anonymous gnat on the ass of the universe. The world, at large, does not know us, appreciate us, or can even comprehend what in the hell we actually accomplished while manipulating spreadsheets on our computer monitors. Centralized capitalism – with the exception of the very few – renders us anonymous, insignificant, and isolated.

Decentralized capitalism holds the potential to render us valuable, as being significant, as holding meaning… within a local community, within a local economy. I may be nothing more than the village butcher, baker or candlestick maker, but I provide an invaluable service to the local residents of my neighborhood or village. I am recognized for my work, and the value I bring to a community. Such recognition, value and sense of dignity cannot be bought with a paycheck. (more…)

The Economic Metaphors of ‘All is Lost’

March 6, 2014

Now that the hub-bub of the Oscars is over, it’s an appropriate time to examine the metaphor-laden film, All is Lost. It was nominated for an Academy Award in sound editing (but ultimately taken by Gravity), but received little attention during Oscar season. I believe the economic metaphors were recognized by the elites, and they weren’t very interested in promoting All is Lost any more than necessary.

I must provide a spoiler alert, although the film is one of those “have-to-see-it” experiences. Having read summaries before seeing All is Lost, I held some trepidation about the film, wondering if a single cast member with a dialogue-less script (there is a short voice-over at the beginning) could really pull it off.

It works. As I said, you have to see it for yourself to believe such a sparse premise can keep your attention.

However, I do not plan to undertake a scene-by-scene analysis here. The broader strokes are discussed. I’ll leave it to the viewer to fill in the gaps. And forgive me if some of the descriptions show my lack of understanding the nomenclature. Having hailed from the Midwest doesn’t lend itself to a very full education of maritime knowledge.

The economic overtures are already at a start when we learn All is Lost was written and directed by J.C. Chandor, who garnered an Academy Award nomination for best original screenplay for Margin Call, an excellent film on Wall Street’s role in the Global Financial Crisis.

(more…)

Two Explosions – One an Obsession, the Corporate-Induced One Ignored

April 22, 2013

I hold no sympathy for the Boston Marathon bombers who killed three people and permanently disabled at least a dozen others, but the bombing’s aftermath became surreal.

Far too many people, probably most not even residing in the Boston area, took to social media to disseminate rumors and make unfounded conjectures. Bloomberg News posted a link to provide “live” coverage of the manhunt surrounding the search for the second suspect, as if the manhunt became a sporting event in its own right (no doubt capturing a far higher viewership than the marathon itself could ever dream). And Boston went on an area-wide, quasi-hysterical lock-down, although it was very evident that the suspects’ actions in the bombing’s aftermath showed them to be amateurs, not professionals. Ironically a man, who ignored the police request to stay indoors, found the second suspect hiding out in his boat, not the authorities.

For some reason, while writing this post I remembered that plane crash scene with Ezra Stiles (Edward Herrmann) at the stick, from the movie The Great Waldo Pepper.

Meanwhile…

…an explosion at a fertilizer factory in West, Texas killed 12 people to date, wounded 200 others, and 60 for which remain unaccounted. And we learn that

“The Texas plant that was the scene of a deadly explosion this week was last inspected by the Occupational Safety and Health Administration (OSHA) in 1985.” (emphasis added)

 

(more…)

Money in Politics – Innovation and Employment Suffers

December 10, 2012

After the Federal government’s debt-ceiling debacle in the summer of 2011, I posted a very brief white paper outlining some suggested reforms, aimed at reducing the massive dysfunctionality that seems to have taken root in D.C. One of those suggestions involved campaign financing:

“All organizations, profit or non-profit, should be banned from donating to campaigns; only individuals should be permitted to donate to campaigns, $1,000 maximum per individual per year.”

I was simply interested in returning good governance, and my proposal stemmed from a realistic assessment of the Supreme Court’s Citizens United decision: If we cannot take exception with corporations’ right to free speech – based on a legally thin contention of a corporation’s personhood – then we should simply ban all organizations from donating money. While this proposal will take out the good along with the bad organizations, this should allow it to withstand legal challenges, since all organizations are banned equally. This proposal will serve two purposes; 1) remove a major source of money from the U.S. political system along with its corrupting influence and 2) drastically decrease the cost of funding campaigns, thus allowing more third-party candidates to mount credible campaigns, and keep our elected officials back at their desk, doing their jobs rather than spending most of their time raising money. The latter, of course, operates under the assumption that extravagant campaigns will disappear, and so will the need for large war chests. (more…)

Tax Abatements Killing Cities

December 2, 2012

At the New York Times, Louise Story can, from time to time, crank out a devastating investigating piece on some aspect of our economy, and Saturday’s edition was no exception. “As Companies Seek Tax Deals, Governments Pay High Price,” Story investigates the high price being paid by local governments for providing tax abatements to companies, damn the long-term costs.

Here in my home state of Indiana, the story resonates. Local officials will provide tax abatements of such extended periods to small- to mid-cap companies with shaky financials, only to find the abatement period outlasts the company. For large companies, local officials will acts like dogs, trying to outdo the dog in the next county in their barking contests, and placing school budgets and property-tax rates at risk. In all cases, abatements are often provided in return for present and future job growth, only the job growth promised rarely materializes and, to add to the pathetic, neither local nor state officials track the promised job growth not link abatements to outcomes. (more…)


%d bloggers like this: