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There is another aspect to this, and that is that the "Shareholder Value" manifests itself in the form of the bank-created IOU's/"Claims over Value" we use as our Money.

Such "Deficit-based" Money is one form of what Marx called "Fictitious Capital" and the other was - wait for it - Shares in Joint Stock Limited Liability Corporations.

ie Fictitious Capital essentially consists of two different legal claims over Value - "Debt" and "Equity".

Deficit-based Money is exponentially hungry - since the loans which gave rise to it have to be repaid PLUS INTEREST. The Black Hole of deficit-money sucks "Shareholder Value" out of all of the productive stakeholders (aka externalities) through the finely evolved structure of the Corporation, which, like a Submarine, is a beautiful piece of engineering, but with a malign purpose.

I simply advocate a simple new "Open" form of Corporation which may operate and thrive without Rentier monkeys on its shoulder.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Fri Dec 22nd, 2006 at 05:11:59 PM EST
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