Yet rather than demanding that costs be fully internalized, the corporate libertarians are active advocates of eliminating government regulation, pointing to potential cost savings for consumers and ignoring the social and environmental consequences. Similarly they advise localities in need of employment that they must become more internationally competitive in attracting investors by offering them more favorable conditions, i.e., more opportunities to externalize their costs through various subsidies, low cost labor, lax environmental regulations, and tax breaks.
[…] The corporate rationalists fail to mention that one way firms increase their „efficiency“ is to externalize more of their costs. […] When corporate libertarians promote practices that allow corporations and wealthy investors to socialize their costs and privatize their gains, they reveal their fidelity to a political interest rather than to economic principles.
What we now have is not a market economy. It is increasingly a command economy centrally planned and managed by the world’s largest corporations to maximize financial returns to top managers and the wealthiest shareholders at the expense of the rest of society.
Quelle: The Betrayal Of Adam Smith
