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2583. Interest rates, wages and corporations.
The Fed is going to raise interest rates in order to force down wages. Meanwhile profits keep going up. Business was originally chartered by the state to carry out state policy, like building canals for shipping.
But we have let that system tilt until the purpose of the corporation is to exploit society not contribute to it. Instead of a fairly cooperative system where the corporation works under the direction of a charter it has become more of a football game of conflict the government which used to be a very active player in those contracts is now a referee without a whistle trying to get reason out of the conflict.
I Ran a search on the word corporation in Smith's wealth of Nations. 13 The search found 13 and all were negative as smith is clear that any association of business people will be exploitative or corrupt and need to be watched carefully.
We need to rethink the purpose by which society creates corporations and the managing team should be working the corporation for benefit to society not as a game of extraction.. Lots of interesting thinking to do here (as the monster of climate change and the military industrial complex has already got us in its shadow,)