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By leveraging their freedom from the bonds of location, corporations could now dictate the economic policy of governments.
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Chapter 1, The Corporation's Rise To Dominance, p. 22

 

Joel Bakan

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Corporations now govern society, perhaps more than governments themselves do; yet ironically, it is their very power, much of which they have gained through economic globalization, that makes them vulnerable.

 

Joel Bakan

 

On the whole what we see is a giant Shakti who awakening into a new world, a new and alien environment, finds herself shackled in all her limbs by a multitude of gross or minute bonds, bonds self-woven by her past, bonds recently imposed from outside, and is struggling to be free from them, to arise and proclaim herself, to cast abroad her spirit and set her seal on the world. We hear on every side a sound of the slow fraying of bonds, here and there a sharp tearing and snapping; but freedom of movement has not yet been attained. The eyes are not yet clear, the bud of the soul has only partly opened. The Titaness has not yet arisen.

 

Sri Aurobindo

 

We had to dispel the notion that the way to economic success lies through a sort of fiscal levitation. That was the abiding post-war delusion—that governments could spend and borrow their way to prosperity, and fine-tune the performance of the economy through something known pretentiously as demand management...It used to be an establishment nostrum that you need a budget deficit to get economic growth. That was the belief which lay behind the notorious letter by 364 economists in March 1981. We have given the lie to that, decisively. There can no longer be any argument about it. Everyone—or almost everyone—now accepts that the proper role of macro-economic policy is to keep downward pressure on inflation and to maintain a stable framework in which the private sector can expand.

 

Nigel Lawson

 

Corporations are going, we are told, to destroy the country. But what would this country be but for corporations? Who have developed it? Corporations. Who transact the most marvelous business the world has ever seen? Corporations.

 

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Corporations are necessary to the effective use of the forces of production and commerce under modern conditions. We cannot effectively prohibit all combinations without doing far-reaching economic harm; and it is mere folly to do as we have done in the past—to try to combine incompatible systems—that is, to try both to prohibit and regulate combinations. Combinations in industry are the result of an imperative economic law which cannot be repealed by political legislation. The effort at prohibiting all combination has substantially failed. The only course left is active corporate regulation – that is, the control of corporations for the common good—the suppression of the evils that they work, and the retention, as far as maybe, of that business efficiency in their use which has placed us in the forefront of industrial peoples.

 

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