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Re: corruption - the reason and a simple solution



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Charu datt wrote:

  > this has been discussed in the past. if you were to read through
  > the archived debates, you would discover that everyone agrees
  > with this premise. the question then becomes one of defining
  > 'power' and 'absolute power'. as i see it, the people in this   > group
  > fall into two broad groups. the majority sees corrupting 'power'
  > exculsively as the power held by those who control government
  > machinery in the name of  'the people', a minority [of which i
  > am a member] includes in the definition, the power of the huge
  > aggregations of capital represented by large corporations. the
  > former group argues that 'free markets' defined as lack of
  > public [i.e. government] control of commercial activity is a
  > divine ideal, an 'invisible hand', [or as Adam Smith put it: god   > 
reveals
  > himself in the market]
  >

Only a system of checks and balances can rectify this paradox.  Under the 
capitalist/free-market model corporate power is checked through competition. 
While the "humble" minority offer no such logical solutions, they are too 
quick to rely on the Government to check the power of corporations without 
rationalizing that the Government itself is an institution, and like a 
corporation, if left alone, will abuse its powers.

You are right, we have discussed this many times before!  And as I have 
asked you many times before: do you have a system of checks and balances for 
the Government much like that which I propose for Corporations which is 
competition and free-market?

Simply put: I trust a corporation more in a free/competitive market because 
its power is clearly checked rather than a monopolistic Government whose 
power remains unchecked.

Lastly, free-market ideals are not in the majority in India - they have been 
and continue to be a dwindling minority.  This is cause for great concern 
and something must be done before we all succumb to oppressive 
institutions!!

Sincerely,
Vamsi M.

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