The Corporate State

By Kleinheider Posted on January 6, 2009 at 12:03 pm

A small business owner comments on the deference shown to large corporations by the federal government:

Only the big corporations are lining up for bailouts. No surprise. I have little respect for them anyway, about as much as I do for unions. With few exceptions, big corporations are PC. They’re monopolistic not entrepreneurial. They adopt unwise labor practices that inhibit their competitiveness, like paying health benefits for homosexual partners of their employees and pushing the Family Leave Act, and then endorse them as law so they can compete against smaller, more efficient private companies. And I’ve noticed they do not seem to answer to their shareholders any more, or else the golden parachute phenomenon would not exist. I presume that’s because most stock ownership these days is via retirement accounts where the stock purchases are really made by cartels, not individuals.

(FT: Silence)

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