Works Good
Here Comes the Capital Strike (Truthdig)
From his seat in Congress, House Speaker John Boehner announced in mid-
September that American business owners would continue to hold the nation’s
wealth (and thus the public welfare) hostage until government granted them the
“low-tax, deregulated world they wanted,” writes journalist and author Thomas
Frank in Harper’s online. Yes, in response to the murmurings of an ungrateful
working class, our brave captains of industry have gone on strike. The whims
of prevailing economic power, not a concern for the common good, should
determine the amount of comfort, security and protection allotted to common
Americans. In reviewing the ruling class’ attempts to wage “capital strikes”
during the New Deal era, Frank makes it clear—as Truthdig’s own Chris Hedges
so often has—that the current imbalance of wealth in America makes political
blackmail possible again. For the time being, there is no way to vote against
the interests of the 1 percent. —ARK Thomas Frank at Harper’s: There were two
distinct “capital strikes” during the administration of Franklin Roosevelt.
The first, which is still referenced on the website of the Securities and
Exchange Commission’s historical society, consisted of a decline in new stock
and bond issues in the …
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