Robert Wright delivered part 3 (here) on the “business” of editorial photography and we both agree that corporate greed is the source of the problems we face in photography and generally in business today. It always seems like I randomly run into information that further clarifies what we’re discussing and this time is no exception:
From New York Magazine, American Roulette: In our winner-take-all casino economy, the middle class is getting royally screwed. A call to arms for populism, before it’s too late (here). Via the writers strike blog (here).
We’ve had a bracing, invigorating run of pedal-to-the-metal hypercapitalism, but now it’s time to ease up and share the wealth some. We can afford to make life a little more fair and a lot less scary for most people.
From a book review by Roger Lownstein in Portfolio Magazine (here).
By Robert B. Reich
Knopf, 272 pages, $25
[…]As Reich admits, this unfettered capitalism is very good at what it tries to do: mainly, earn profits for shareholders and offer a wide array of affordable products to consumers. It is lousy at everything else, which, according to Reich, includes providing health care and ample pensions for employees or a living wage for those on the bottom or protecting small retailers and the environment.
[…]Free markets have been great for the kingpins of private equity—not so for the working stiff.
[…]Reich spends a lot of time contrasting the present era with what he calls the Not Quite Golden Age of the 1950s and ’60s, when unions and government promoted stability for workers and communities at the cost of a far less innovative economy. It’s startling to be reminded of just how controlled the U.S. economy used to be.
[…] Anyway, technology ended it. Ma Bell lost its monopoly to new long-distance-transmission technology, and truckers to Federal Express. Down came the regulatory walls, companies were forced to compete, and Wall Street demanded profits and profits alone. Communities be damned.
[…]Corporations cannot be expected to divide their loyalties between social interests and capitalist ones because they have no means of weighing one against the other. Only a democratic institution can decide whether, in order to preserve community values, it is worth throwing a little sand into the gears of capitalism—say, by keeping a big-box retailer out of downtown. But those institutions, namely Congress and state legislatures, are failing.
Don’t let the greedheads win.