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	<title>Comments on: The bailout wake-up to real world capitalism</title>
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	<link>http://nicholasmead.com/2009/04/11/the-bailout-wake-up-to-real-world-capitalism/</link>
	<description>Journalist based in Barcelona</description>
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		<title>By: admin</title>
		<link>http://nicholasmead.com/2009/04/11/the-bailout-wake-up-to-real-world-capitalism/#comment-3660</link>
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Fri, 17 Apr 2009 16:54:18 +0000</pubDate>
		<guid isPermaLink="false">http://nicholasmead.com/?p=698#comment-3660</guid>
		<description><![CDATA[I agree that we don&#039;t live in a functioning democracy but there is still a direct form of accountability in the form of government which is a good starting point for reform. Corporations may only be accountable to shareholders but unfortunately for them, governments are still accountable to those that they govern no matter how imperfect the democracy. As you say though, the democratic process has been severely derailed by the close relationship of governments with corporations and is in desperate need of reform.

You say that it&#039;s not clear who is &quot;accountable for social evils&quot; nowadays but I think most people are pretty clear on who is accountable for many social problems. The Rasmussen poll that found 2 out of 3 Americans believe that big business and the government often work in ways that hurts consumers is a case in point.

I think there&#039;s widespread belief that corporations and governments put their own interests ahead of the general population. The problem is that the democratic system is not responding to those feelings which is why there is a great deal of cynicism and apathy.

Most people are desperate for solutions and answers as the wave of expectation that brought Obama to power proved. Maybe in the end people will find that the answer doesn&#039;t lie within the current political system as it stands and a new model needs to be found.]]></description>
		<content:encoded><![CDATA[<p>I agree that we don&#8217;t live in a functioning democracy but there is still a direct form of accountability in the form of government which is a good starting point for reform. Corporations may only be accountable to shareholders but unfortunately for them, governments are still accountable to those that they govern no matter how imperfect the democracy. As you say though, the democratic process has been severely derailed by the close relationship of governments with corporations and is in desperate need of reform.</p>
<p>You say that it&#8217;s not clear who is &#8220;accountable for social evils&#8221; nowadays but I think most people are pretty clear on who is accountable for many social problems. The Rasmussen poll that found 2 out of 3 Americans believe that big business and the government often work in ways that hurts consumers is a case in point.</p>
<p>I think there&#8217;s widespread belief that corporations and governments put their own interests ahead of the general population. The problem is that the democratic system is not responding to those feelings which is why there is a great deal of cynicism and apathy.</p>
<p>Most people are desperate for solutions and answers as the wave of expectation that brought Obama to power proved. Maybe in the end people will find that the answer doesn&#8217;t lie within the current political system as it stands and a new model needs to be found.</p>
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		<title>By: Brett Hetherington</title>
		<link>http://nicholasmead.com/2009/04/11/the-bailout-wake-up-to-real-world-capitalism/#comment-3659</link>
		<dc:creator><![CDATA[Brett Hetherington]]></dc:creator>
		<pubDate>Fri, 17 Apr 2009 08:31:59 +0000</pubDate>
		<guid isPermaLink="false">http://nicholasmead.com/?p=698#comment-3659</guid>
		<description><![CDATA[Well, I&#039;m enjoying this exchange of ideas, the debate. I fully agree with you when you say:

&quot;If throughout history slaves, workers and other oppressed groups had decided that there was nothing that could be done, then nothing would have changed for the better.&quot;

The big difference between that time and now is that there was a kind of direct accountability for this kind of social evil. It was clear where the blame had to lie and the law was able to be changed in a way that genuinely affected the slave business. Of course now we have international corporations who have mastered the art of image and spin and keeping secrets well hidden. We also have investors and bankers who are shadows: untouchable and out of the reach of the law.

I never suggested that &quot;nothing can be done&quot; but surely we have to realise that the big &#039;democracies&#039; such as the UK and the US are virtual non-democracies, despite a relatively free media which most citizens (at least in those two countries) take little notice of when it comes to social and political issues.

We chatter amongst ourselves and write things for each other that the average person is completely uninterested in. We have to realise that writers and journalists are nowadays largely writing for themselves.]]></description>
		<content:encoded><![CDATA[<p>Well, I&#8217;m enjoying this exchange of ideas, the debate. I fully agree with you when you say:</p>
<p>&#8220;If throughout history slaves, workers and other oppressed groups had decided that there was nothing that could be done, then nothing would have changed for the better.&#8221;</p>
<p>The big difference between that time and now is that there was a kind of direct accountability for this kind of social evil. It was clear where the blame had to lie and the law was able to be changed in a way that genuinely affected the slave business. Of course now we have international corporations who have mastered the art of image and spin and keeping secrets well hidden. We also have investors and bankers who are shadows: untouchable and out of the reach of the law.</p>
<p>I never suggested that &#8220;nothing can be done&#8221; but surely we have to realise that the big &#8216;democracies&#8217; such as the UK and the US are virtual non-democracies, despite a relatively free media which most citizens (at least in those two countries) take little notice of when it comes to social and political issues.</p>
<p>We chatter amongst ourselves and write things for each other that the average person is completely uninterested in. We have to realise that writers and journalists are nowadays largely writing for themselves.</p>
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	<item>
		<title>By: admin</title>
		<link>http://nicholasmead.com/2009/04/11/the-bailout-wake-up-to-real-world-capitalism/#comment-3658</link>
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Wed, 15 Apr 2009 11:15:44 +0000</pubDate>
		<guid isPermaLink="false">http://nicholasmead.com/?p=698#comment-3658</guid>
		<description><![CDATA[If people are to take the attitude that nothing can be done though, that makes the whole concept of democracy redundant. While most Western democracies aren&#039;t functioning as well as they could be, that doesn&#039;t mean it can&#039;t be reformed. We don&#039;t live in a dictatorship after all.

Oppressed groups in the past have suffered far greater problems that are currently faced today. If throughout history slaves, workers and other oppressed groups had decided that there was nothing that could be done, then nothing would have changed for the better. 

You&#039;re right that corporate financing dictates election campaigns to a large extent but if it was the deciding factor, then I&#039;m not sure Obama would have been elected. His campaign received a huge amount of public donations and financial support via the internet proving that another model is possible.]]></description>
		<content:encoded><![CDATA[<p>If people are to take the attitude that nothing can be done though, that makes the whole concept of democracy redundant. While most Western democracies aren&#8217;t functioning as well as they could be, that doesn&#8217;t mean it can&#8217;t be reformed. We don&#8217;t live in a dictatorship after all.</p>
<p>Oppressed groups in the past have suffered far greater problems that are currently faced today. If throughout history slaves, workers and other oppressed groups had decided that there was nothing that could be done, then nothing would have changed for the better. </p>
<p>You&#8217;re right that corporate financing dictates election campaigns to a large extent but if it was the deciding factor, then I&#8217;m not sure Obama would have been elected. His campaign received a huge amount of public donations and financial support via the internet proving that another model is possible.</p>
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	<item>
		<title>By: Brett Hetherington</title>
		<link>http://nicholasmead.com/2009/04/11/the-bailout-wake-up-to-real-world-capitalism/#comment-3657</link>
		<dc:creator><![CDATA[Brett Hetherington]]></dc:creator>
		<pubDate>Wed, 15 Apr 2009 09:49:59 +0000</pubDate>
		<guid isPermaLink="false">http://nicholasmead.com/?p=698#comment-3657</guid>
		<description><![CDATA[I tend to think that is now only in theory that governments have the power to significantly affect the running of the world economy. The events in the UK and the USA have shown that these nations &quot;leadership&quot; has actually been following the dictates of the money markets (such as huge &#039;bailouts&#039;) rather than giving them orders to comply with, or else face legal consequences. 

Of course with a genuine will perhaps they can influence some aspects of capitalism,  through taxation and public spending but this barely affects the most rich and powerful. So few prosecutions against white-collar criminals have been launched, though the authorities are clever enough to make it look like they are going after the worst offenders (Madoff, is a rare case.)

Pressure from interest groups will be at the margin because there is always an election just a few years away and US candidates all need corporate finance to get elected: Obama included.]]></description>
		<content:encoded><![CDATA[<p>I tend to think that is now only in theory that governments have the power to significantly affect the running of the world economy. The events in the UK and the USA have shown that these nations &#8220;leadership&#8221; has actually been following the dictates of the money markets (such as huge &#8216;bailouts&#8217;) rather than giving them orders to comply with, or else face legal consequences. </p>
<p>Of course with a genuine will perhaps they can influence some aspects of capitalism,  through taxation and public spending but this barely affects the most rich and powerful. So few prosecutions against white-collar criminals have been launched, though the authorities are clever enough to make it look like they are going after the worst offenders (Madoff, is a rare case.)</p>
<p>Pressure from interest groups will be at the margin because there is always an election just a few years away and US candidates all need corporate finance to get elected: Obama included.</p>
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	<item>
		<title>By: admin</title>
		<link>http://nicholasmead.com/2009/04/11/the-bailout-wake-up-to-real-world-capitalism/#comment-3656</link>
		<dc:creator><![CDATA[admin]]></dc:creator>
		<pubDate>Mon, 13 Apr 2009 22:37:39 +0000</pubDate>
		<guid isPermaLink="false">http://nicholasmead.com/?p=698#comment-3656</guid>
		<description><![CDATA[I think the government does have the power to do something but the will will have to come from the general population. What Obama needs right now is the same popular movements and groups that help elect him to keep applying pressure on the issues that matter. Without this public support and pressure, Obama will have neither the will or the confidence to push through the kind of reforms that may upset a lot of powerful interests.]]></description>
		<content:encoded><![CDATA[<p>I think the government does have the power to do something but the will will have to come from the general population. What Obama needs right now is the same popular movements and groups that help elect him to keep applying pressure on the issues that matter. Without this public support and pressure, Obama will have neither the will or the confidence to push through the kind of reforms that may upset a lot of powerful interests.</p>
]]></content:encoded>
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	<item>
		<title>By: Brett Hetherington</title>
		<link>http://nicholasmead.com/2009/04/11/the-bailout-wake-up-to-real-world-capitalism/#comment-3655</link>
		<dc:creator><![CDATA[Brett Hetherington]]></dc:creator>
		<pubDate>Mon, 13 Apr 2009 12:09:56 +0000</pubDate>
		<guid isPermaLink="false">http://nicholasmead.com/?p=698#comment-3655</guid>
		<description><![CDATA[My thinking on the Rasmussen poll is that plenty of those surveyed would think a &quot;free market economy&quot; is better than capitalism probably just because it has the word &quot;free&quot; in it. It&#039;s easy to associate freedom as being naturally a good thing, forgetting that there is &quot;freedom from...(eg.hunger or fear of poverty from unemployment) just as there is &quot;freedom to...(eg. make money.)

There&#039;s certainly more realism in two out of three of the US public realising that &quot;big government and big business often work together in ways that hurt consumers and investors.&quot; Maybe some are finally waking up to Chomsky&#039;s and others warnings over the past few decades. The question is whether government has either the will or the power to do anything to genuinely change the situation. In my opinion they don&#039;t.]]></description>
		<content:encoded><![CDATA[<p>My thinking on the Rasmussen poll is that plenty of those surveyed would think a &#8220;free market economy&#8221; is better than capitalism probably just because it has the word &#8220;free&#8221; in it. It&#8217;s easy to associate freedom as being naturally a good thing, forgetting that there is &#8220;freedom from&#8230;(eg.hunger or fear of poverty from unemployment) just as there is &#8220;freedom to&#8230;(eg. make money.)</p>
<p>There&#8217;s certainly more realism in two out of three of the US public realising that &#8220;big government and big business often work together in ways that hurt consumers and investors.&#8221; Maybe some are finally waking up to Chomsky&#8217;s and others warnings over the past few decades. The question is whether government has either the will or the power to do anything to genuinely change the situation. In my opinion they don&#8217;t.</p>
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