This is an interesting article about economic decision-making in Russia. Where the Duma and prime minister fail to agree the decision falls to the president. In the US, these issues are decided by factions in Congress that are influenced by lobbying. The US regards the Russian model as corrupt but sees nothing similar in the US model, which is supposedly free of political influence.Dances with Bears
Last week a Vienna, Austria, court ruled that US government charges against Ukrainian oligarch Dmitry Firtash are unsubstantiated and unlawfully motivated by political scheming. Next up for the rule of evidence and of law — the European Court of Justice in Luxembourg must judge whether European Union (EU) sanctions against Russia are unsubstantiated and unlawfully motivated by political scheming.Dances with Bears
‘Oligarchic tendencies’: Study finds only the wealthy get represented in the Senate (via Raw Story )
At one point an ITVS vice-president spelled it out: “We live in a world where we have to be aware that people with power have power.” ITVS cancelled the project in April.The Nation
Forbes Magazine likes to call itself a “capitalist tool,” and routinely offers tool-like justifications for whatever it is that profit-seeking corporations want to do. Recently it has deployed its small army of corporate defenders and apologists in the multi-billion dollar fight to keep the effective tax rates of global corporations low.
One of its contributors, Tim Worstall, recently took me to task for suggesting that a way for citizens to gain some countervailing power over large global corporations is for governments to threaten denial of market access unless corporations act responsibly.
He argues that the benefits to consumers of global corporations are so large that denial of market access would hurt citizens more than it would help them. The “value to U.S. consumers of Apple is they can buy Apple products,” Worstall writes. “Why would you want to punish U.S. consumers, by banning them from buying Apple products, just because Apple obeys the current tax laws?”
Wortstall thereby begs the central question. If global corporations obeyed all national laws — the spirit of the laws as well as the letter of them – and didn’t use their inordinate power to dictate the laws in the first place by otherwise threatening to take their jobs and investments elsewhere, there’d be no issue.
It’s the fact of their power to manipulate laws by playing nations off against one another – determining how much they pay in taxes, as well as how much they get in corporate welfare subsidies, how much regulation they’re subject to, and so on – that raises the question of how citizens can countermand this power.Beware Capitalist Tools
America’s robber barons have had to wait for more than a century—since Teddy Roosevelt went rogue and joined the anti-trust campaigners—for a Republican ticket that would truly represent their interests.The Nation
But every indication is that the Romney-Ryan ticket will be of, by and for the private-equity managers who have become the masters of America’s economic universe.
The Romney-Ryan ticket rejects the American faith of not just Democratic presidents such as Harry Truman and Franklin Roosevelt but of Republican presidents such as Dwight Eisenhower and Teddy Roosevelt.
“The absence of effective State, and, especially, national, restraint upon unfair money-getting has tended to create a small class of enormously wealthy and economically powerful men, whose chief object is to hold and increase their power,” Teddy Roosevelt warned at Osawatomie, Kansas, in 1910. “The prime need to is to change the conditions which enable these men to accumulate power which it is not for the general welfare that they should hold or exercise.”
