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UVM PA 395 - The Limits of Privatization

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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 3.01. Maximize return to capital2. Distribute property on a per share basis3. The price of nature = 0Starting Condition: Top 5% own more ppty shares than the remaining 95%What about…Socially Responsible CorporationsEnlightened 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 rightsGiving 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 PrivatizeTurn 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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