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

[Brandybuck]

The 1929 crash was caused by a variety of factors. But the depression that followed was prolonged through the distrous policies of Hoover and Roosevelt. Hoover's policy of wage controls kept it going long enough for Roosevelt to come into to office. His subsequent "let's try random policies to see what works" New Deal kept the depression going.

We didn't get out of the depression until AFTER world war II. The myth is that the war got us out, but that's nothing more than lying through statistics. Unemployment certainly disappeared, but that's ONLY because the unemployed got drafted!

I hate to be the one to break the news to you, but your high school history teacher lied to you.