From the Socialist Courier blog
Michael Moore, American TV programme and movie maker, is a compassionate guy who hates what capitalism does to people and strives to right what he sees as wrongs. Sadly, he hasn't a clue about how capitalism works and is a prime example of the idealist who fights effects but leaves causes untouched.
He thinks that corporations and the filthy-rich should be content with less wealth and should share profits with their workers. What a hope, but here in Scotland we have our own version of Michael Moore the showbiz personality of Elaine C. Smith.
In her column in the Sunday Mail (December 31st) Elaine, having applauded "the risk-takers" and endorsed the capital-labour relationship, lambasts business fat cats who pocket huge sums of money and asks, "Do they really need all that money? Couldn't they have just put a couple of hundred quid in the pay packets of their workers?"
What Elaine doesn't realise that those fat cats get their wealth by trying to ensure that their business maximise their profits and keep shareholders happy. What investors want is not smaller but bigger profits and dividends.
It's not just fat cats and shareholders who want more: everybody does, even working class savers with, say, building societies look for the highest rate of interest. That's what capitalism is all about.
Michael Moore and Elaine C. Smith want a caring, sharing capitalism and although they mean well they should remember that the road to hell is paved with good intentions.
Michael Moore, American TV programme and movie maker, is a compassionate guy who hates what capitalism does to people and strives to right what he sees as wrongs. Sadly, he hasn't a clue about how capitalism works and is a prime example of the idealist who fights effects but leaves causes untouched.
He thinks that corporations and the filthy-rich should be content with less wealth and should share profits with their workers. What a hope, but here in Scotland we have our own version of Michael Moore the showbiz personality of Elaine C. Smith.
In her column in the Sunday Mail (December 31st) Elaine, having applauded "the risk-takers" and endorsed the capital-labour relationship, lambasts business fat cats who pocket huge sums of money and asks, "Do they really need all that money? Couldn't they have just put a couple of hundred quid in the pay packets of their workers?"
What Elaine doesn't realise that those fat cats get their wealth by trying to ensure that their business maximise their profits and keep shareholders happy. What investors want is not smaller but bigger profits and dividends.
It's not just fat cats and shareholders who want more: everybody does, even working class savers with, say, building societies look for the highest rate of interest. That's what capitalism is all about.
Michael Moore and Elaine C. Smith want a caring, sharing capitalism and although they mean well they should remember that the road to hell is paved with good intentions.
Vic Vanni
