Welcome to our community

Be apart of something great, join today!

Epstein Files | Patel: Trust us

  • Thread starter Thread starter nycfan
  • Start date Start date
  • Replies: 315
  • Views: 6K
  • Politics 
The irony here is that this criticism was largely concocted by Martin Lipton, one of the greatest corporate lawyers ever. Wachtell Lipton famously only represented (and this is not 100% true these days but close) the executives who run companies. In the annals of corporate law, there are a lot of cases with captions of the form [union name] v. [corporate name], because labor union pension funds would often sue executives. Martin Lipton was never once on the side of the unions.

I'm not saying this view is wrong. Far from it. There's evidence going both ways. Most of the research on both sides is polemical, and there is still a current of old 1980s personal grievances involved in these disputes. It's hard to sort wheat from chaff there.

It's just ironic that you're citing a critique of financialization that was invented by the ruling class (Martin Lipton being absolutely 100% an unrepentant and occasionally unethical member of the ruling class). Note: I didn't say invented. This particular criticism has been around for a long time, but Marty mainstreamed it and financed a lot of the research justifying it.
If you're trying to undermine my point by pointing out that Martin Lipton mainstreamed the critique of shareholder primacy, you’re actually reinforcing it. That even a figure like Lipton, deeply embedded in elite corporate law and no friend to labor, felt compelled to challenge the corrosive effects of financialization on long-term corporate health only underscores how far the problem had gone.

Lipton didn’t invent the critique, as you admit. He amplified it within elite circles because the short-term, extractive incentives of shareholder capitalism were undermining the very institutions he was hired to protect. That he wasn't doing it out of solidarity with workers or unions is exactly the point: even defenders of the system began to see that the model was eating itself.

So no, it's not "ironic" to cite this criticism; it's revealing. When people at the top start ringing alarm bells about the system they helped build, you should pay attention. If anything, the fact that Lipton financed some of the research suggests the scale of the problem, not that critiques of financialization are discredited by association.

So if you want to point out that elites themselves started to worry about the system they profited from, then thanks. That’s just more evidence for my case.
 
I've read deeply in leftist philosophy, probably to an extent you don't realize (I do have a masters degree in intellectual history). Moreover, I still agree with some of it. I think Marcuse is more relevant than ever. Same with Adorno. I always liked Adorno and I defended him back in the 90s when the idea of the "authoritarian personality" became widely mocked. Tables have turned now.
Honestly, leaning on Adorno and Marcuse as your main touchstones just shows how out of date your framework is. Leftist thought has evolved a lot since your 1990s masters degree. Many of us have rejected large parts of the Frankfurt School and poststructuralist stuff because it doesn’t fit today’s world (and actively contributed to many issues leftists within my camp talk about today). You’re basically arguing from an outdated playbook and acting like that means you “get” the left now.
 
All this political theory is fine but 99% of the American public, including me, need to see a working growing full scale model. Suggestions? I know I'm being a bit flip but you've got to have some steak with the sizzle to sell it. I'm not saying you're wrong nearly so much as I'm saying I don't see how you get people to try it. I'm not seeing a whole lot of room for give and take or compromise.
 
1. If the gates have fallen, it's because the people who were supposed to be standing at them failed so spectacularly that the public stopped listening. You can sneer at “catturd” all you want, but that doesn’t explain why decades of elite gatekeeping gave us Iraq, the financial crisis, mass incarceration, and historic inequality. The “flooding of the zone with shit” didn’t happen in a vacuum, it happened after a generation of gatekeepers used their position to protect a broken status quo. People lost faith not in expertise itself, but in the institutions that dressed up self-interest and ideology as neutral expertise. You want a better informed public? Start by rebuilding trust through accountability, not censorship.

2. You say democratizing corporations is “bullshit,” but this just reflects how narrow your framework is. Nobody is suggesting that a Fortune 500 company becomes a town hall overnight. But there are concrete proposals and historical models, from worker co-ops to codetermination to public ownership, that challenge the current dogma of shareholder supremacy. And yes, India experimented with forms of industrial democracy and faced challenges, but that doesn’t discredit the concept any more than the 2008 crash discredits capitalism. You’re arguing from a place of professional habituation: corporate law, as it stands, is your map, so anything outside of it looks like fantasy. But the point of politics is to redraw the map.

3. You're misunderstanding what a materialist analysis is actually saying. It’s not that genuine disagreement doesn’t exist. It’s that our ideas, values, and political positions don’t emerge in a vacuum. They are shaped, in part, by our material conditions: our class position, economic interests, and relationship to power. That doesn’t erase sincerity or intellect, it contextualizes them. People often sincerely believe things that happen to align with their position in a hierarchy. That’s not a moral judgment, it’s how ideology operates. What’s baffling is how someone trained in law, a field that constantly grapples with motive, power, and incentive, acts like this is some alien concept. Material interests aren’t a reduction of all disagreement, but they are a key lens for understanding why some ideas flourish and others are pushed to the margins. That’s not conspiracy.

4. your ire is still directed at the one guy who dared to criticize the corporate capture of both parties. Nader didn’t steal your vote. If anything, he revealed that the center-left had no plan for a post-industrial economy except “trust us.”

5. You're treating IMF-style restructuring as if it’s gravity: inevitable, neutral, and universal. It’s not. It’s a political project that reflects a specific vision of development and global order. Countries in crisis often have few choices precisely because institutions like the IMF only offer one model: open up markets, cut public spending, attract capital.
So many assumptions here.

1. I understand that concept of materialist analysis. But you offered it as a theory of disagreement, which it's not and your post more or less admits as much. Ideas and political positions are shaped, in part, by . . . ok, what's the other part? Of course our views are shaped by our environment. Of course people talk their own book, as they say on Wall Street.

But if Ralph Nader and I were coming from roughly the same place (his bio is not unlike mine), why did we reach such different conclusions? Why do I think Nader's economics are ridiculous, whereas he thinks they are wonderful? This is what a theory of disagreement has to explain. I'd recommend Jurgen Habermas if you'd like a fuller, more detailed treatment. But for a message board, maybe I can point out that your analysis that Nader was "criticizing the corporate capture of both parties" replicates what I've been saying. It's always virtue against decadence. I'm a big fan of speaking truth to power, but I think it's important to get the truth part right and that's where the left fails so miserably. They are too often focused on the "to power" part.

2. "You’re arguing from a place of professional habituation: corporate law, as it stands, is your map, so anything outside of it looks like fantasy" is a perfect example of the perverse dynamic here. You don't know shit about corporations. Nothing. I know that as surely as I know that ZenMode knows jackshit about anything he prattles on about. The idea that my view is too narrow holds about the same water as any of ZenMode's nonsense.

Apparently that doesn't stop you from a preposterous accusation that somehow I'm just a slave to my map. You have no idea what I've written about corporate law. You don't know why I went into corporate law -- it was, actually, to bring a liberal perspective to a field that was too often dominated by conservatives. I have plenty to say about the ways corporate law can distort public debate: for example, any time you hear a CEO go on TV and talk about how he has to do some horrible thing because fiduciary duties to shareholder, he's lying. That's not the way fiduciary duties work.

But it is simply the truth that worker co-ops cannot build semiconductor plants. Public ownership has a long track record of abject failure. It's also true that the shareholder supremacy you talk about is not the law. Delaware corporate law is quite the opposite: it's board of directors supremacy. You probably see those two things as the same, which is why you shouldn't be talking about corporate law. When you don't know the terms of debate, probably you should read or listen more.

3. Elite gatekeeping of media gave us the financial crisis? Really? REALLY? Do you know what caused the financial crisis? You don't. It wasn't fucking gatekeeping media. In fact, people like Paul Krugman saw right through the bullshit and if we had all listened to Paul, we'd have nipped it in the bud. Alas. The Iraq War was boosted primarily by Fox News. In other words, it was caused by the barbarians, not the gatekeepers. You weren't alive back then, so you probably don't remember how much pushback the claims of WMDs etc got questioned in the gatekeeping media. Yes, there was Judith Miller from the Times, but that's a single example. Fox News, though, allowed for demagoguing.

Catturd was not created by a breakdown of legacy media. It was created by a decades long propaganda effort that has created an alternative reality for so many people. They weren't disillusioned with legacy media because they didn't trust it. They were disillusioned because the gatekeepers were saying things that the catturds of the world didn't like. In particular, gay rights. And the refusal of the mainstream media to indulge the racism of the right.

4. Why do you think countries turn to the IMF? Not because it's fun for the government -- actually, it's usually quite the opposite. They turn to the IMF because their own economies have been run into the ground. Usually it's terrible policy, although sometimes countries get battered by natural catastrophes like extended droughts that deplete capital.

The IMF is the last resort. They get called when everything else fails.
 
1. If the gates have fallen, it's because the people who were supposed to be standing at them failed so spectacularly that the public stopped listening. You can sneer at “catturd” all you want, but that doesn’t explain why decades of elite gatekeeping gave us Iraq, the financial crisis, mass incarceration, and historic inequality. The “flooding of the zone with shit” didn’t happen in a vacuum, it happened after a generation of gatekeepers used their position to protect a broken status quo. People lost faith not in expertise itself, but in the institutions that dressed up self-interest and ideology as neutral expertise. You want a better informed public? Start by rebuilding trust through accountability, not censorship.

2. You say democratizing corporations is “bullshit,” but this just reflects how narrow your framework is. Nobody is suggesting that a Fortune 500 company becomes a town hall overnight. But there are concrete proposals and historical models, from worker co-ops to codetermination to public ownership, that challenge the current dogma of shareholder supremacy. And yes, India experimented with forms of industrial democracy and faced challenges, but that doesn’t discredit the concept any more than the 2008 crash discredits capitalism. You’re arguing from a place of professional habituation: corporate law, as it stands, is your map, so anything outside of it looks like fantasy. But the point of politics is to redraw the map.

3. You're misunderstanding what a materialist analysis is actually saying. It’s not that genuine disagreement doesn’t exist. It’s that our ideas, values, and political positions don’t emerge in a vacuum. They are shaped, in part, by our material conditions: our class position, economic interests, and relationship to power. That doesn’t erase sincerity or intellect, it contextualizes them. People often sincerely believe things that happen to align with their position in a hierarchy. That’s not a moral judgment, it’s how ideology operates. What’s baffling is how someone trained in law, a field that constantly grapples with motive, power, and incentive, acts like this is some alien concept. Material interests aren’t a reduction of all disagreement, but they are a key lens for understanding why some ideas flourish and others are pushed to the margins. That’s not conspiracy.

4. You’re still mad at Ralph Nader? Twenty-five years later? In 2024, the Democrats ran one of the weakest campaigns in modern history, and your ire is still directed at the one guy who dared to criticize the corporate capture of both parties. Nader didn’t steal your vote. If anything, he revealed that the center-left had no plan for a post-industrial economy except “trust us.” If the system is so fragile that a third-party candidate pulling single digits can bring it down, the problem is the system, not the guy pointing at it.

5. You're treating IMF-style restructuring as if it’s gravity: inevitable, neutral, and universal. It’s not. It’s a political project that reflects a specific vision of development and global order. Countries in crisis often have few choices precisely because institutions like the IMF only offer one model: open up markets, cut public spending, attract capital. That isn’t neutral policy, it’s coercion dressed up as expertise. Yes, Chile became an export powerhouse, but at what cost? Labor rights were crushed, inequality soared, and democracy was suspended for nearly two decades. The idea that other countries “just haven’t come to terms” with export-led growth ignores the political resistance such models generate when people refuse to be sacrificed on the altar of investor confidence. There is nothing apolitical about how foreign capital moves. It moves toward exploitation, deregulation, and regimes willing to discipline labor.
4 ) My beef is not with Ralph Nader; it's the naive voters that wasted their votes on Nader. He won 1.6% of the vote, enough to prevent the Iraq war. And to add a cherry to this election debacle, another 5000 voters thinking they were voting for Gore actually cast those votes for Pat Buchanan because of the infamous butterfly ballot.

Those naive Nader voters led to the election of GWB, the Iraq war, and the Great Recession. That is on them full stop.

My hope is that liberal youngsters will mature politically and recognize that supporting liberal incremental change has moved us further down to becoming a more perfect union. Hard left flame throwing burn down the house strategies will not further the cause.

I applaud the protests in LA but hope violence from protesters does not become the story
 
All this political theory is fine but 99% of the American public, including me, need to see a working growing full scale model. Suggestions? I know I'm being a bit flip but you've got to have some steak with the sizzle to sell it. I'm not saying you're wrong nearly so much as I'm saying I don't see how you get people to try it. I'm not seeing a whole lot of room for give and take or compromise.
I don’t think you're being flip at all. You're actually getting at the central challenge: how do we turn left-wing critique into something real that people can see, touch, and benefit from?

Most people aren't going to read political theory, and they shouldn't have to. They already feel the effects of a broken system in their daily lives. They know their wages aren't keeping up. They know their rent is eating half their paycheck. They know they can't afford to get sick. That’s the real starting point—not theory, but lived experience.

When people say “what’s the alternative?” I hear that as a challenge to show, not just tell. And I agree with that. We need working, growing, full-scale examples of what a fairer, freer, more democratic economy looks like. And while we don’t have a nationwide model yet, there are real-world examples out there right now: worker co-ops, tenant unions, community land trusts, public power, municipal broadband, and some of the most successful union campaigns we’ve seen in a generation. The problem is not that people won’t try these things, it’s that the political and economic system keeps them small, underfunded, or buried.

You also mentioned compromise. I’m not against give and take. But real compromise requires a balance of power. Right now, working people have very little leverage in that equation. The goal of this project is to build that power up again, so that compromise doesn’t just mean “take what you're given and be grateful.”

In the end, it’s not about convincing people with abstract arguments. It’s about organizing around what they already know in their gut: that this isn’t working, and it doesn’t have to be this way.
 
If you're trying to undermine my point by pointing out that Martin Lipton mainstreamed the critique of shareholder primacy, you’re actually reinforcing it. That even a figure like Lipton, deeply embedded in elite corporate law and no friend to labor, felt compelled to challenge the corrosive effects of financialization on long-term corporate health only underscores how far the problem had gone.
LOL. You have no idea what you're talking about. Why are you arguing with me about this? I FUCKING WORKED AT LIPTON'S LAW FIRM.

He didn't feel "compelled to challenge the corrosive effects of financialization." It was bullshit all along. You see, this is how the merger world worked in the 1970s:

A. Bidder makes an offer to buy a company. Board rejects it. So then bidder launches a tender offer to acquire a controlling share on the market, and uses it to take control of the company on the cheap.

B. Board of directors could try various defense strategies, including antitrust. But they weren't very effective -- hence the huge corporate raiding wave of the early 1980s.


Here's how the merger world worked in the 1980s.

A. Bidder makes an offer to buy a company. Board rejects it and calls Marty Lipton. They put in place something called a poison pill, which prevents the bidder from acquiring the company without board approval.

B. Marty Lipton & co. would then negotiate with the bidder to do the deal as a friendly transaction. Usually this involved payoffs to the corporate executives (it was how the golden parachute was invented). It also involved big payments to the law firm, which is how WLRK became by far the most profitable law firm in the country, with partners taking home double what they did at other big firms.


Marty's financialization critique was always about justifying the poison pill. Why should investors not be free to take the offer or leave it? Well, part of it was that they weren't informed about all the great things the board was doing for the long-term health of the company. That was the argument. It was bullshit. Everyone sort of knew it was bullshit, but they adopted it. In reality, what was driving the whole thing was part B: the ability to complete deals on a friendly posture, which was more lucrative for everyone involved. Eventually Marty gave up on the financialization piece, using shorthand to argue about long-term investment but really the main consideration was that the poison pill delivered better deals for shareholders.
 
Most people aren't going to read political theory, and they shouldn't have to. They already feel the effects of a broken system in their daily lives. They know their wages aren't keeping up. They know their rent is eating half their paycheck. They know they can't afford to get sick. That’s the real starting point—not theory, but lived experience.

And while we don’t have a nationwide model yet, there are real-world examples out there right now: worker co-ops, tenant unions, community land trusts, public power, municipal broadband, and some of the most successful union campaigns we’ve seen in a generation. The problem is not that people won’t try these things, it’s that the political and economic system keeps them small, underfunded, or buried.
1. Criticizing the abundance agenda, and then citing the problems the abundance agenda tries to challenge as the basis for your own argument, is a take I suppose. Why is rent eating half their paycheck? Why is it way more expensive to build in California than in Texas? That's a fact. Texas' way is not necessarily better for many, many reasons, but if housing is a major problem, build more housing!

2. Why does the political and economic system keep those efforts small or underfunded? Is it because of neoliberalism? Or because every time a Dem president expands labor rights, the subsequent GOP administration undoes that progress or more.

3. You want to know why I'm frustrated by Nader and the Naderites? Well, here's an anecdote. A while back, the Supreme Court issued one of the most anti-union decisions since the 1890s when the Sherman Act was interpreted to be a union-busting tool. It was authored by Alito. Alito was the driving force behind it -- having complained about unions endlessly until he finally got a majority to take them down.

If Ralph Nader had not run for president in 2000; if he hadn't been out there talking about a uniparty and blurring the distinctions between the two parties, Samuel Alito would not have been a Supreme Court justice. In all likelihood, Justice Tatel would have been writing opinions upholding union rights. Oh, and campaign finance reform -- another issue where Roberts and Alito did so much damage even before Citizens United.

The reason that unions are underfunded is not Bill Clinton or Barack Obama or Joe Biden. It's GWB and Trump and Ralph Nader. It isn't neoliberalism. As applied to labor rights, that term is even more bullshit than usual. If you knew anything about labor law, you'd know that there are more volumes of NLRB adjudications than all federal court cases. Well, I don't know if that's technically accurate, but the density is much higher. That's because the NLRB is always changing its stripes. Dems come in and expand union rights through adjudications. Then the GOPers come in and retract those rights in subsequent adjudications.
 
LOL. You have no idea what you're talking about. Why are you arguing with me about this? I FUCKING WORKED AT LIPTON'S LAW FIRM.

He didn't feel "compelled to challenge the corrosive effects of financialization." It was bullshit all along. You see, this is how the merger world worked in the 1970s:

A. Bidder makes an offer to buy a company. Board rejects it. So then bidder launches a tender offer to acquire a controlling share on the market, and uses it to take control of the company on the cheap.

B. Board of directors could try various defense strategies, including antitrust. But they weren't very effective -- hence the huge corporate raiding wave of the early 1980s.


Here's how the merger world worked in the 1980s.

A. Bidder makes an offer to buy a company. Board rejects it and calls Marty Lipton. They put in place something called a poison pill, which prevents the bidder from acquiring the company without board approval.

B. Marty Lipton & co. would then negotiate with the bidder to do the deal as a friendly transaction. Usually this involved payoffs to the corporate executives (it was how the golden parachute was invented). It also involved big payments to the law firm, which is how WLRK became by far the most profitable law firm in the country, with partners taking home double what they did at other big firms.


Marty's financialization critique was always about justifying the poison pill. Why should investors not be free to take the offer or leave it? Well, part of it was that they weren't informed about all the great things the board was doing for the long-term health of the company. That was the argument. It was bullshit. Everyone sort of knew it was bullshit, but they adopted it. In reality, what was driving the whole thing was part B: the ability to complete deals on a friendly posture, which was more lucrative for everyone involved. Eventually Marty gave up on the financialization piece, using shorthand to argue about long-term investment but really the main consideration was that the poison pill delivered better deals for shareholders.
So if Lipton’s critique of shareholder primacy was a cover story for consolidating boardroom power and enriching executives and lawyers, then that’s an even starker example of how elite rhetoric about long-termism or stakeholder value is used instrumentally. Not as a real challenge to financialization but as a way to reassert control within its logic. You seem to be saying: “don’t trust the financialization critique because I saw how cynically it was used.” I’m saying: the fact that it was so easily co-opted by cynical actors confirms how hollow and brittle our current model is.
 
Honestly, leaning on Adorno and Marcuse as your main touchstones just shows how out of date your framework is. Leftist thought has evolved a lot since your 1990s masters degree. Many of us have rejected large parts of the Frankfurt School and poststructuralist stuff because it doesn’t fit today’s world (and actively contributed to many issues leftists within my camp talk about today). You’re basically arguing from an outdated playbook and acting like that means you “get” the left now.
Dude, you're both digging deeper and showing your limitations. You might have rejected the Frankfurt School -- indeed, it wasn't popular in the 90s -- but Adorno has never been so relevant. The authoritarian personality is the best empirical explanation for Trumpism and the global rise of fascism. Basically, fascists are fascists not because of class interests but because they are bad people. Look up Dark Triad and right-wing orientation.
 
So if Lipton’s critique of shareholder primacy was a cover story for consolidating boardroom power and enriching executives and lawyers, then that’s an even starker example of how elite rhetoric about long-termism or stakeholder value is used instrumentally. Not as a real challenge to financialization but as a way to reassert control within its logic. You seem to be saying: “don’t trust the financialization critique because I saw how cynically it was used.” I’m saying: the fact that it was so easily co-opted by cynical actors confirms how hollow and brittle our current model is.
Try again, this time without claiming that being wrong makes your point even more true.
 
So many assumptions here.

1. I understand that concept of materialist analysis. But you offered it as a theory of disagreement, which it's not and your post more or less admits as much. Ideas and political positions are shaped, in part, by . . . ok, what's the other part? Of course our views are shaped by our environment. Of course people talk their own book, as they say on Wall Street.

But if Ralph Nader and I were coming from roughly the same place (his bio is not unlike mine), why did we reach such different conclusions? Why do I think Nader's economics are ridiculous, whereas he thinks they are wonderful? This is what a theory of disagreement has to explain. I'd recommend Jurgen Habermas if you'd like a fuller, more detailed treatment. But for a message board, maybe I can point out that your analysis that Nader was "criticizing the corporate capture of both parties" replicates what I've been saying. It's always virtue against decadence. I'm a big fan of speaking truth to power, but I think it's important to get the truth part right and that's where the left fails so miserably. They are too often focused on the "to power" part.

2. "You’re arguing from a place of professional habituation: corporate law, as it stands, is your map, so anything outside of it looks like fantasy" is a perfect example of the perverse dynamic here. You don't know shit about corporations. Nothing. I know that as surely as I know that ZenMode knows jackshit about anything he prattles on about. The idea that my view is too narrow holds about the same water as any of ZenMode's nonsense.

Apparently that doesn't stop you from a preposterous accusation that somehow I'm just a slave to my map. You have no idea what I've written about corporate law. You don't know why I went into corporate law -- it was, actually, to bring a liberal perspective to a field that was too often dominated by conservatives. I have plenty to say about the ways corporate law can distort public debate: for example, any time you hear a CEO go on TV and talk about how he has to do some horrible thing because fiduciary duties to shareholder, he's lying. That's not the way fiduciary duties work.

But it is simply the truth that worker co-ops cannot build semiconductor plants. Public ownership has a long track record of abject failure. It's also true that the shareholder supremacy you talk about is not the law. Delaware corporate law is quite the opposite: it's board of directors supremacy. You probably see those two things as the same, which is why you shouldn't be talking about corporate law. When you don't know the terms of debate, probably you should read or listen more.

3. Elite gatekeeping of media gave us the financial crisis? Really? REALLY? Do you know what caused the financial crisis? You don't. It wasn't fucking gatekeeping media. In fact, people like Paul Krugman saw right through the bullshit and if we had all listened to Paul, we'd have nipped it in the bud. Alas. The Iraq War was boosted primarily by Fox News. In other words, it was caused by the barbarians, not the gatekeepers. You weren't alive back then, so you probably don't remember how much pushback the claims of WMDs etc got questioned in the gatekeeping media. Yes, there was Judith Miller from the Times, but that's a single example. Fox News, though, allowed for demagoguing.

Catturd was not created by a breakdown of legacy media. It was created by a decades long propaganda effort that has created an alternative reality for so many people. They weren't disillusioned with legacy media because they didn't trust it. They were disillusioned because the gatekeepers were saying things that the catturds of the world didn't like. In particular, gay rights. And the refusal of the mainstream media to indulge the racism of the right.

4. Why do you think countries turn to the IMF? Not because it's fun for the government -- actually, it's usually quite the opposite. They turn to the IMF because their own economies have been run into the ground. Usually it's terrible policy, although sometimes countries get battered by natural catastrophes like extended droughts that deplete capital.

The IMF is the last resort. They get called when everything else fails.
1. You're setting up a false binary. Of course people with similar backgrounds can come to different conclusions. That doesn’t invalidate material analysis any more than two siblings choosing different religions invalidates the role of upbringing. A materialist lens doesn’t pretend to explain everything, but it does offer a framework for understanding why certain worldviews dominate and others get marginalized. That’s not a replacement for other kinds of analysis; it’s a corrective to the idea that ideas float freely, unshaped by power or interests.

2. I don’t pretend to be a corporate lawyer. My point wasn’t about your legal credentials, it was about worldview. You’re describing the boundaries of what is legally permissible under current corporate structures, while I’m trying to talk about what might be politically possible if we shift the framework. I’m not surprised that Delaware law doesn’t enshrine shareholder supremacy in literal terms. But I don’t think you’d deny that, in practice, maximizing shareholder value is still the north star of most major corporations. That’s the issue I’m raising: how economic norms, not just legal texts, shape behavior.

Also, no one said worker co-ops are going to build semiconductor plants overnight. That’s a straw man. The real question is whether we can diversify ownership models and democratize economic decision-making in some sectors, especially where there’s already a public role, like energy, healthcare, or housing.

3. The point isn’t that media gatekeeping caused the financial crisis. It’s that elite institutions, media included, lost legitimacy after a series of historic failures, from Iraq to Wall Street deregulation to growing inequality. People don’t turn to figures like catturd because they’re just anti-gay or racist. Many turn to them because they believe (rightly or wrongly) that official channels stopped telling the truth or representing their interests.

4. Of course countries don’t call the IMF for fun. But that doesn’t mean the medicine they’re given is neutral. It reflects a certain ideology: austerity, liberalization, and market primacy. You say they’re called when everything else fails, but what’s been ruled out before that? Land reform? Capital controls? Public investment? The IMF prescribes a very specific treatment plan, and it has a long track record of worsening conditions in the name of “stability.”
 
Last edited:
Dude, you're both digging deeper and showing your limitations. You might have rejected the Frankfurt School -- indeed, it wasn't popular in the 90s -- but Adorno has never been so relevant. The authoritarian personality is the best empirical explanation for Trumpism and the global rise of fascism. Basically, fascists are fascists not because of class interests but because they are bad people. Look up Dark Triad and right-wing orientation.
Saying “fascists are fascists because they’re bad people” is the essence of a moral-psychological diagnosis that abandons any structural analysis. That’s exactly the problem with leaning too hard on Adorno in 2025.

I’m not denying that personality traits can play some role, but reducing mass politics to individual pathologies is a dead end. It pathologizes voters instead of analyzing the political and economic conditions that produce reactionary movements. You might be comfortable writing off 30–40% of the population as psychologically broken, but that’s not a strategy for organizing or winning anything. The authoritarian personality framework also makes it too easy for technocratic liberals to act like their own worldview is neutral and healthy, when in fact it’s been complicit in the very crises that have helped fuel right-wing backlash.

So yeah, Adorno might be trendy in left-wing academic circles, but for many of us on the contemporary socialist or populist left, that revival just signals a further retreat into abstraction and moralism.
 
Sorry by all means keep going — I was just spiking a reference to the OP as a (failed) joke, not to dissuade the debate.

Besides, I have no say in the matter, just out here posting with no Mod powers.
 
Back
Top