The Capitalist Road to Serfdom

Walk into a Bank or BHP and you won’t find Democracy or individuals but we nevertheless support them.

By design, the corporation is not a democratic enterprise. Its management is hierarchical, its imperatives are growth and profit, and its structure is a de facto class system of owners, managers, and workers. You could argue that in the earliest days of capitalism, something like the concept of free enterprise actually existed: firms of various sizes competed, with even the largest dwarfed in both size and influence by most nation states. Today, the world’s biggest companies not only wield monopolistic power and exert considerable political influence, but in many cases have market capitalizations exceeding the GDPs of entire countries.

Source: The Capitalist Road to Serfdom

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.