Robert Reich: Under a shareholder protection law, shareholders would not have to spend their share of corporate earnings on candidates who they personally oppose. If a company dedicates, say, $100,000 to a particular campaign in a given year — directly, or indirectly through a front organization — shareholders who don’t want their money used this way would get a special dividend or additional shares representing their pro rata share of that campaign expenditure.
Whoops! My bad. Sorry. In effect, this is what former Fed chair Alan Greenspan is telling members of the House Committee of Government Oversight and Reform today by admitting he was wrong about unfettered free markets regulating themselves.
The global economy has been put into the economic equivalent of a full nelson by a financial system threatening to collapse under the weight of a complicated pyramid scheme. The Bush administration sounded dire warnings and cobbled together a vaguely flushed-out rescue plan promising the injection of up to $700 billion of taxpayers’ dollars into […]
$700,000,000,000… oh what a relief, it is! With apologies to Alka-Seltzer, one chamber crawled out of the sandbox and reached an unpopular but bipartisan decision to save global credit markets last night as banks held a Russian Roulette pistol with six chambers full to our heads and yelled, “Stop me before I shoot.” Crisis over? […]
By Mark Pash, with Brad Parker — Capitalism does significantly raise the standard of living but not for all and not enough for many. Therefore, it is up to government to take a more active role in the economy in order to overcome these flaws with as little hindrance as possible. In other words, one […]
by Mark Pash, with Brad Parker — The economic philosophy of the Progressive Democratic Party is designed to advance human commerce for the betterment of all, while protecting the business environment from itself and the government. Commerce is not perfect and is vulnerable to both human nature and the major flaws of capitalism.