The Dangers of Institutional Power
Anyone who has spent time in America's corporate boardrooms knows one thing very well: for-profit institutions (investment banks, hedge funds, private equity firms, other financial institutions, universities and industrial companies) are organized to achieve one and only one objective - the maximization of profits. This objective is programmed into their DNA.
It is only after careful observation and life experience that we ultimately realize how incredibly dangerous this singular focus and sense of purpose really is. These institutions have a tremendous impact on the lives of individuals, families, communities, societies and indeed the entire ecosystem in which they operate. They impact the environment, infrastructure, government policy, economy and natural resources of their markets, as well.
But this singular focus on profit, combined with the willingness of legislatures, government officials and regulators to look the other way (in return for political contributions and other forms of graft) is having a devastating impact on the lives of millions of people in the developed and developing worlds, alike.
Human beings require eight essential things to live a peaceful life: food, clothing, shelter, healthcare, education, family, community and security (economic and physical). It is the function of government to ensure that these essentials are attainable across all levels of the socio-economic strata with a reasonable level of effort by its citizens.
But our government and institutions are failing badly in this regard. Recent Pew Research polls indicate that 76% of Americans distrust the Federal government and 92% have an unfavorable opinion of the US legislature. With the 2014 elections only a few days away, many Americans have developed an apathetic outlook towards our democracy - they feel it's not working for them. It's hard to fault them for their views when even corporate media is reporting that the elite of our nation and the very same institutions referenced in the beginning of this post have been the primary beneficiaries of the multiyear Quantitative Easing program initiated by the US Federal Reserve.
The solution to our problem is, in theory, actually quite simple: eliminate the ability of wealthy and powerful individuals and firms from giving contributions to the political campaigns of legislators and government executives, eliminate their ability to lobby, establish severe penalties and fines for violations, expand the regulatory framework policing these institutions, cut oversized for-profit institutions down to manageable (regulatable) size and establish rules preventing regulators from soliciting employment from the institutions they oversee. Without these changes, we will see a great deal more suffering in this country and we will continue our descent into the annals of history.
It is only after careful observation and life experience that we ultimately realize how incredibly dangerous this singular focus and sense of purpose really is. These institutions have a tremendous impact on the lives of individuals, families, communities, societies and indeed the entire ecosystem in which they operate. They impact the environment, infrastructure, government policy, economy and natural resources of their markets, as well.
But this singular focus on profit, combined with the willingness of legislatures, government officials and regulators to look the other way (in return for political contributions and other forms of graft) is having a devastating impact on the lives of millions of people in the developed and developing worlds, alike.
Human beings require eight essential things to live a peaceful life: food, clothing, shelter, healthcare, education, family, community and security (economic and physical). It is the function of government to ensure that these essentials are attainable across all levels of the socio-economic strata with a reasonable level of effort by its citizens.
But our government and institutions are failing badly in this regard. Recent Pew Research polls indicate that 76% of Americans distrust the Federal government and 92% have an unfavorable opinion of the US legislature. With the 2014 elections only a few days away, many Americans have developed an apathetic outlook towards our democracy - they feel it's not working for them. It's hard to fault them for their views when even corporate media is reporting that the elite of our nation and the very same institutions referenced in the beginning of this post have been the primary beneficiaries of the multiyear Quantitative Easing program initiated by the US Federal Reserve.
The solution to our problem is, in theory, actually quite simple: eliminate the ability of wealthy and powerful individuals and firms from giving contributions to the political campaigns of legislators and government executives, eliminate their ability to lobby, establish severe penalties and fines for violations, expand the regulatory framework policing these institutions, cut oversized for-profit institutions down to manageable (regulatable) size and establish rules preventing regulators from soliciting employment from the institutions they oversee. Without these changes, we will see a great deal more suffering in this country and we will continue our descent into the annals of history.
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