Re: Nation of idiots ?


elephantcelebes@xxxxxxxxx wrote:
> Kamal R. Prasad wrote:
>
> > I cannot comment on their IQ level -except to say that they have legal
> > rights to run the co. as they wish. If they take a stupid decision,
> > the public or the govt doesn't incur a loss -they themselves do.
>
> No country that I know of allows the owners of a corporation total
> freedom to do as they wish. The rights granted to a corporation are
> limited.
>
true. But the purpose of a corporation's existence is profit making and
it excludes a social contract to retain expensive employees if cheaper
ones are available elsewhere.

> > > Besides, shareholders are not immune from fads and frauds. Remember the
> > > dot-com bubble, Enron, and 1929?
> >
> > Yeah -but if you tell them they don't know how to manage their
> > portfolio and you are going to do a better job by forcing your
> > decision down their throat -they won't take it kindly. The law is on
> > their side in that respect.
>
> It happens all the time -- something called "regulation." Indeed, a

regulation prohibits corporations/execs from breaking the law or
indulging in any form of malpracytice either to deceive consumers or
general public or govt or small investors.
It doesn't prohibit them from improving profitability or increasing
the divide between haves and have-nots. offshoring increases the divide
by putting middle class people out of work, reducing costs for the
company and increasing profitability for the investors. All of this is
lega and cannot be regulated.

> corporation needs regulations to exist at all. It is not a natural
> entity, but is brought into existence by a government entitlement with
> benefits such as limitation of liability. Those benefits come with
> strings attached. Nothing is forced down the owners' throats, as there
> are other business structures that they can adopt such as sole
> proprietorships and partnerships.

Many a times, politicians try to muscle their way into company coffers
using those strings -but it can be said safely that they wouldn't be
able to muscle their way and legislate offshoring. If it had to come to
a head -investors would pack up and leave the US rather than do
something to fulfill the hypothetical social contract. And don't forget
-there are many americans who wouldn't be able to retain their jobs if
they were to compete for jobs on a level playing field with people from
other countries. The rules for movement of personnel protect them from
facing the competition as yet. When companies find out they can get
more value for money -they are even less likely yto cooperate with
shitty workers from the 'land of oppurtunities'.

regards
-kamal

.

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