Capitalism 3.0 Ch. 4: The Limits of PrivatizationSlave to the Algorithm of Capitalism 3.0What about…Slide 4An Alternative…A Better Alternative…Capitalism 3.0 Ch. 4: The Limits of PrivatizationJanuary 2008Susan SkalkaSlave to the Algorithm of Capitalism 3.01. Maximize return to capital2. Distribute property on a per share basis3. The price of nature = 0Starting Condition: Top 5% own more ppty shares than the remaining 95%What about…Socially Responsible CorporationsEnlightened Managers?Socially Responsible Shareholders?Mandatory Responsibility?While nice thoughts, none of these would really work, Barnes argues, since we are still slave to the algorithm under each of these.An Alternative…Change price of nature to > 0 Managers immediately try to cut what now costs money, polluting, being wasteful, etc.Free Market Environmentalism:Assign private ppty rights, e.g. right not to be polluted No rationale for assigning these rightsGiving rights for free to corporations is not good, is like giving out free leases to a building that go on forever and allow corp to earn rent.A bunch of individuals aren’t well organized to fight corps.A Better Alternative…‘Propertize’ but don’t PrivatizeTurn pieces of the Commons into c ommon ppty, not corporate ppty. Allows us to charge corporations higher price for using commons Allows us share benefits of higher prices broadly Allows us to ensure quantity of usage rights sold is set with interest of future generations in
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