The Dictatorship of Corporations by Thilo Bode

The Dictatorship of Corporations
by Thilo Bode, 2018, a reading summary of his new book

Why do the majority of politicians so often make decisions against the public interest and in favor of industry? A new quality of lobbyism arose on account of the dramatically stronger market- and financial power of companies.

I sound the alarm. The power relations in our society are shifting endangering democracy, the market economy, our self-determination, and our freedom. “A great setback…
Wall Street won; normal persons are losers” admitted the head of the CFBB.

Translator’s Note:

The world isn’t running after CocaCola, rock-n-roll and financial products as in the pre-2008 days. The unipolar days have given way to the multi-polar days. Where is the discussion of Plan B? Are we headed back to the 11th century and to corporate feudalism?

Myriad full-time and part-time jobs are possible with digital or Internat capitalism. Civil society must be enlivened to reverse the trend to plutocracy and disempowerment.

Reduced working hours lead to better long-term health and more time sovereignty. Shriveling the financial sector and expanding the public sector should be lessons from the 2008 meltdown. Redistribution and regulation are vital in a world where infinite growth is impossible and the state must represent the public interest!

$18 trillion was infused in “too-big-to-fail” banks in the 2008 financial meltdown. In the first eight months of 2018, corporations spent more than $460 billion buying back their own stock (cf. The Real World Economic Review). The lack of affordable housing represents a market failure. A non-profit housing sector would be an alternative to market failure and state complicity. Owners of capital are not the only ones with enforceable rights.

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