Wednesday, 22 September 2010

Cable on Capitalism

From the BBC:-

The business secretary will tell his party's conference that "murky" corporate practices threaten UK firms and "capitalism kills competition".

He will announce a consultation into issues such as executive pay and the role of directors in takeover battles.

OK, assuming that Cable means "capitalism" in it's correct term, using Britannica's definition of an Economic system in which most of the means of production are privately owned, and production is guided and income distributed largely through the operation of markets, then:-
  1. Every player in the system would like to wipe out the competition but...
  2. It's still the best system around for delivering competition
As for all this boardroom stuff, you have a very simple choice: don't own shares in companies that you don't like. I ended up with a philosophy that derives from Gordon Gekko - I only buy shares where the people in charge have a large stake in the company. Steve Jobs gives a shit about Apple in a way that most executives don't. 

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