Is 'Corporate Citizen' an Oxymoron?

theodp writes "Citing expert testimony from a recent House Science Subcommittee hearing on Globalizing Jobs and Technology, The Economic Populist challenges the conventional wisdom that maximizing profits should be a corporation's only responsibility, suggesting it's time for the US to align its corporations to the interests of the nation instead of vice versa. Harvard's Bruce Scott warns that today's global economy is much like the US in the later 19th century, when states competed for funds generated by corporations and thus raced to the bottom as they granted generous terms to unregulated firms. Sound familiar, Pennsylvania? How about you, Michigan?"

Comments

Re:This is what happens without communism

[Anonymous Coward]

This is such a load of crap. Lets reduce it to the simplest terms. If you saddle corporations with high taxes, and high regulations...they will leave. And that is what they did. They went to a country that has a more free economy that the USA - China. CEOs are smart. Why stick around in a country that punishes them for success?

Just remember companies *never* pay taxes - people do.

Put a huge windfall profits tax on the oil companies - guess who will pay for it - you do.

Think about why Hong Kong was such an economic power house? At one time it was a tax free zone for corporations.

I am sick and damn tired of Marxists in this country telling us how corporations are evil. They are not evil. A powerful government that tells us what to do is evil.

Re:So, basically

[clang_jangle]

Though an astute observer might argue that aligning the interests of the nation to that of its corporations is what is going on now, and that that is what make our current system fascist.

There, fixed that for you. :)

Re:So, basically

[Qzukk]

this is advocating a form of fascism, right?

Yes, in order to put down a form of socialism that's been bogging down America for years.

The question is, when will we swallow the horse?