The Rise of Corporate Dominance and the Rise of Income Inequality (Part VI)
22 August 2017 | Pago Pago, American Samoa
X. Too few understand these matters, so CEOs are beyond the reach of the law
Few understand how big and powerful many corporations are. Some already have security forces that rival small armies, although such efforts are often contracted out, but they are small armies, nonetheless. They are giants in terms of size and resources, very often bigger in those regards than many countries.
And yet few understand that, set up as they are, corporations are island dictatorships under the fascistic control of one man, the CEO, whose word is law and not to be challenged. Worse than the captain of a ship. Boards are stuffed with CEO buddies and cronies and there is then no check on a CEO. Shareholders are usually too far removed and there are ways of buying them off too. Rising share prices usually does the trick and that too encourages share back programs. We have hugely powerful CEO dictators largely unchecked and out of control, looting and plundering in every direction including legislatures and monopoly market positions. Government is overwhelmed.
Few also understand the income inequality problem created by these CEOs. They think there is too few of them to matter. But that is not true. The 0.1% is basically CEOs, big bank owners (I have explained why they are rich) and inventors/venture capitalists who, when not engaged in fraud or mere coat tailing, actually do seriously contribute. It is a small group but has huge incomes. People don't get this well either.
Few understand that these CEOs are directly responsible for not only plundering their own companies for personal gain, but also plundering the public by the monopoly positions their companies acquire by hook or crook, to the point now where the issue is recognized by foreign nationals as being a major national US problem and we reluctantly agree and say something should be done. But we are overwhelmed and corporate money speaks loudly. We live in stall mode.
Too few understand too little to matter and the abuses grind on.