Tuesday, September 30, 2003

Adam Smith & Corporate Globalism

I though it was time for a fresh perspective on Adam Smith, and corporate globalism. If your looking for the best perspective on corporate globalism, this is it. David Korten is one of the most intelligent, interesting men in the world, at present. He has a massive following of diverse groups, all over the world. He presents the complex in plain language with an interesting style. I recommend his view to everyone.

This is economics with a social conscience at its highest level:

David C. Korten Ph.D.

Excerpt from
When Corporations Rule the World
2nd Edition
by David C. Korten
It is ironic that corporate libertarians regularly pay homage to Adam Smith as their intellectual patron saint, since it is obvious to even the most casual reader of his epic work The Wealth of Nations that Smith would have vigorously opposed most of their claims and policy positions. For example, corporate libertarians fervently oppose any restraint on corporate size or power. Smith, on the other hand, opposed any form of economic concentration on the ground that it distorts the market's natural ability to establish a price that provides a fair return on land, labor, and capital; to produce a satisfactory outcome for both buyers and sellers; and to optimally allocate society's resources.

Through trade agreements, corporate libertarians press governments to provide absolute protection for the intellectual property rights of corporations. Smith was strongly opposed to trade secrets as contrary to market principles and would have vigorously opposed governments enforcing a person or corporation's claim to the right to monopolize a lifesaving drug or device and to charge whatever the market would bear. ...{article link continued}

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