Bourgeois right catches up with finance
capitalism:-
>>>
Being above it all is no longer a viable defence
The corporate world felt a seismic shift when a New York jury found
Bernie Ebbers guilty
<<<
from Guardian (UK)
http://www.guardian.co.uk/worldcom/story/0,12167,1441446,00.html
It is not clear how this is all going to pan out,
but it seems to me they are up against the fact that financial control to be
done properly is almost irreducibly complex. Modern stock companies can no
longer be left to buccaneer CEO's who act as if they are the embodiment of
individual capitalists. The pressure to maintain the share price of their
company safely on stock exchanges dominated by financial capitalist institutions
is now too great.
This implies that companies will have to be run by
an increasingly complex system of elite intelligentsia and technical feedback
systems. The CEO and board of directors will remain disgustingly highly paid but
they will in effect by gilded intelligentsia employed by capital, rather than
tantamount to capitalists in their own right as if they are the direct owners of
the means of production, who have just borrowed a bit of money on the stock
exchange. They now have to be the elite employees of finance capital
itself.
It seems to me this clash between legal bourgeois
right and the modern conditions of finance capitalism, if the author is correct
that this is a seismic shift, is another step towards finance capitalism being
so highly socialised in form, that it just needs political struggle to start
tipping it over into socialism.
A bit of class struggle might help the political
battle too.
IMHO
Chris Burford
London
