One of the professors at my law school, Joel Bakan, wrote a
documentary called "The Corporation.
It is about, you guessed it--corporations! And their impact on the resources of the earth.
In the 1800's in America, right after the 14th Amendment freed African Americans from slavery, corporate lawyers used the 14th Amendment to successfully argue that the status of personhood should be awarded to corporations. In fact, out of the few hundred instances where the 14th Amendment has been invoked in court, it has been argued in conjunction with an Afrian American complainant a handful of times, the rest of the time, the complainant (or applicant) has been a corporation looking to profit.
Practically speaking, this means that corporations are awarded all the rights of personhood but only one legal obligation: to make as much money as they can for their shareholders. Bakan's film goes through the ramifications of corporate personhood and compares a corporation to a psychotic--a corporations "personality traits" match up exactly to that of a
psycho. psycho>, including extreme selfishness, an emphasis on short term rewards over long term benefits and a disregard to the welfare of others.
The thing about corporations is that they become so large & monolithic that they are unstoppable. Because of the current laws in the U.S., corporations are allowed to spend millions of dollars to send lobbyist to Washington, D.C. and influence the public policies of that nation. With disaterous results for average Americans. And nothing is done in the U.S. without their approval, as seen by the recent appointment of Goldman Sachs management leeching into the highest
public office.
I took a corporations law class last year, coincidentially at the same time as the financial meltdown in the U.S. In Canada, we have corporate regulation. But what amazed me was how little regulation we have and how easy it is for corporations to opt out if it. It basically amounts to a few default positions and the ability of courts to step in should a shareholder with standing be able to convince them the situation is grossly unfair. That's it. So little, and yet, enough to keep Canada from having a similar meltdown to the States.
What struck me when I took this class was how greedy corporations are and how they get away with their nutty, nutty greed. They lobbied congress in the States to take away even these few small restrictions against short term profits. The requirements in Canada on corporations are not onerous, and yet America removed even those few safeguards. And then, when the unsustainable growth of corporate profits showed themselves to be unsustainable, instead of fixing the issues that brought American finance down to its knees, nothing was done. Nothing except forcing every taxpayer in America to become unwilling shareholders to these giant corporations through the bailouts.
I have been reading some pretty accurate commentary as of late on the problem of corporate greed, such as this article
discussing last year's corporate takeover. and this amazing article by
Matt Taibbi.. In his article, Taibbi explains the phenomenon we see so often in the US now, where its all left v right and blue state v red state. There is so much anger and hatred directed at Americans from other Americans. They blame each other as the cause of their problems but refuse to get angry at the corporations that are the real cause of the decline of wages, the polluting of the atmosphere, the denying of basic health care coverage and the growth of the national debt. It is why tea parties gathered to protest health care but not the bailouts, why ACORN gets more media coverage than Goldman Sacks.
Finally, we have
this movie. I haven't seen it yet but was
struck by something Matt Taibbi said about the film:
"The reaction to Michael Moore’s new movie, Capitalism: A Love Story, reinforces a suspicion I started having a few years back: that most of us Americans are much better at being movie and TV critics than we are at being political organizers. When we come out of a film like this, we find ourselves focusing on the flaws in Moore’s moviemaking and not on the film’s content, which just happens to be the reality of our own day-to-day political existences.
We’re not thinking about how to fix our lives, in other words, but how to fix the movie about our lives."
I don't know if watching Moore's movie will make Americans (or the world) more wary of the extreme negative effect corporations have on something so basic as our very continued existence on this earth. It could be that corporations have just grown to large and powerful to be stopped. But become aware of their influence on our lives is a good start to crawling back our dependence on them.
Anyway, it's a start.