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Monkeypanic

An entirely adequate book which did not excite me.

The Value of Nothing: How to Reshape Market Society and Redefine Democracy - Raj Patel

If you haven't heard it all before, I guess this is worthwhile. Basically the standard complaints about capitalism- which is failing in present day precisely because it is no longer free market capitalism, but rather an increasingly regulated (by international "managed trade" agreements like NAFTA and the now-defunct TTP) crony capitalism. Discussion about Adam Smith and Ayn Rand, the history of "commons" and the Enclosure Acts. The British East India Company. Negative and positive rights. Useful value of an object vs. Transactional value of an object. (i.e. water is useful and necessary for life but also extremely plentiful so has a high useful value and a low transactional value; gemstones are pretty and rich customers may pay top dollar for them, but don't fulfill any dire need so they have a low useful value but a high transactional value.)  The nature of corporations (i.e. as "legal fictions" endowed with rights akin to human beings, but immortal, unsleeping, and dedicated to a single purpose: acquisition of more.)

 

The title refers to corporate cost-avoidance strategies which allow companies to push unseen expenses on to third parties (usually the public), which reaping profits. An example would be taxpayer-funded subsidies for corn, which knocks $500,000/year off the cost of raising cattle to maturity, resulting in lower cost of beef, which allows McDonald's to get beef cheaper than they used to, while keeping the price of their sandwiches the same. End result: McDonald's realizes a large profit selling hamburgers to taxpayers who subsidized the end-product, but do not profit from the subsidy... in fact, they are effectively paying twice for each burger they buy.

 

If you've been interested in these things for more than 5 years, I doubt there is anything new in here to stimulate you.