Political Element In Economics

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Political Element In Economics

Economics cannot digest the political operations of the corporation in such a refined way that these things are ignored in the text-books. Not many economists live so far out of the world that they would deny the political power of the modern corporation, its importance in real life. But there is no elegant theory of corporate thimble-rigging and political subornation which lends itself to university instruction. So it has to be ignored. We must, as you see, come to the defence of our professional friends whenever possible.

Is the military-industrial complex another aspect of that power? This, of course, is the closest relationship between the corporation and the state in 2015. A symbiosis. The United States Air Force lets the big weapons firms know of the weapons systems - planes, missiles, guidance apparatus - it would like to have. With equal pleasure, the weapons firms design and produce the things the Air Force wants. A perfect relationship and a model for any marriage.

There is also an extensive exchange of people between the Pentagon and the management of these weapons firms. Executives of the big weapons manufacturers often move into senior procurement posts in the Pentagon for a tour of duty. When admirals or generals retire, they frequently become vice-presidents of one or another of the big weapons firms. This interchange gives an intimacy to the relationship between the corporation and the government, and this also is available only to the large enterprise. Once, some years ago, a Marine general who was a friend of mine opened a small hotel in Vermont He went broke very soon afterward. No one ever went broke as a vice-president of General Dynamics.

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Foreign Policy

Finally, a large corporation can conduct its own foreign policy.

The big multinational oil companies have their own policy in dealing with the Middle Eastern governments in 2015.

Sometimes it differs from that of the State Department.

If it is the same, it is partly because these firms have a good deal of influence on the State Department. The Lockheed Corporation, in conducting its foreign policy in Japan, Holland, Italy and elsewhere, has had more success in destabilizing governments than has the CIA, with the difference that Lockheed operated only against friendly governments. Japanese... see: Foreign Policy

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