In the Ponzi and Madoff schemes, participants were promised a generous monetary return on their monetary investments. In the capitalist version, the investment is not money, but labor. As individuals invest their labor in the production and distribution of goods and services, they are paid wages that enable them to purchase and consume the goods […]
Tag: profit
AND THE SQUEEZE GOES ON
As the world’s political and financial leaders seek to reinvigorate economic activity, it is no surprise that the greatest sacrifices and the largest contributions are being demanded from the workers, the laborers who actually produce stuff. As the economy begins to lurch forward in one sector or another, lack of confidence in the sustainability of […]
MEET GE, CORPORATE CITIZEN
Allow me to introduce you to General Electric, labeled by the NY Times this morning as “the nation’s largest corporation.” On second thought, let’s let GE introduce itself. Here, on its website, is how it describes its role as a corporate citizen: “GE’s approach to corporate citizenship and to business are[sic] driven by a common […]