Posted at Hartmann Report on Feb. 27, 2024
Have We Reached the Point Where Corporatism is Triumphing Over Democracy?
Economic crises represent social and political transition points, times of great difficulty but also times of great opportunity: We now stand at the edge of one those rare windows in time...
America is recovering from an economic crisis and Russia and China seem hell-bent on pushing us into what may become a world war. We've been here three times before in the history of our country, and each one has heralded major changes in the nature and structure of our government.
As we watch corporations pour increasingly large amounts of money into politics, it's a good time to reevaluate their role in governance and society. At the top of that list is the doctrine created out of whole cloth by the US Supreme Court in the late 19th century called "Corporate Personhood." It has become one of the most destructive forces in American politics.
In 1776, Adam Smith's Wealth of Nations was published and the U.S. Declaration of Independence was signed. This was no coincidence: both were broadly embraced reactions, in part, to a widespread economic depression that had begun in the previous decade.