Thursday, October 22, 2009

MM Book 1 Chapter 4-15

The SAGE, the Self-Appointed Guardian Elite:
(the modern variant of an ancient term derived from the following)

... the conviction has grown that the corporation has become a system of private government, structured along hierarchical lines very much like a totalitarian state - lacking constitutional guidelines, many threatened to become lawless - their economic power and strength, and the strength of the nation, rested in the hands of a few thousand men in control of the corporate bureaucracy ... in recent years a relatively small oligarchy from the same milieu, whose members deal almost exclusively with each other and possess no ownership relation of any sort, have come to represent the power center of the corporation ... large corporations had come to control a significant part of the economy and of society - indeed as society became increasingly dependent on the corporation, the latter's independence was correspondingly increased - corporate directives and decisions acquired the force of law, as accommodation to that law became the quintessence of adaptability - "self-appointed corporate guardians" emerged, responsible only to themselves - whatever motion they generated in their capacity as corporate managers became the way of validating their own exercise of power. [Ben B. Seligman, essay THE SEVENTIES: Problems and Proposals, 1972]

... Keynes was one of the founding fathers of the Bretton Woods institutions - the World Bank and the IMF - he, I believe, was driven by the very best of interests - he was very concerned by what had happened during the depression and he was concerned about poverty, but he had no faith in people, in individuals to run their affairs and run the affairs of state - he believed in the need to have a "Guardian Elite" that would do the economic management and design industrial strategies, and so on, that would guide the economies of countries - and this is precisely what the World Bank turned out to be ... [CBC IDEAS, March 14, 1992, Business World, discussion; Economist Patricia Adams, author Third World "Odious Debt"]

Mammon or Messiah Book 1 (complete) or MM 04 (individual chapter)


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