Re: corruption - the reason and a simple solution

[Vamsi Musunuru <vamsi@siliconcorp.com>]

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Charu datt wrote:

> this has been discussed in the past. if you were to read through
> the archived debates, you would discover that everyone agrees
> with this premise. the question then becomes one of defining
> 'power' and 'absolute power'. as i see it, the people in this group
> fall into two broad groups. the majority sees corrupting 'power'
> exculsively as the power held by those who control government
> machinery in the name of  'the people', a minority [of which i
> am a member] includes in the definition, the power of the huge
> aggregations of capital represented by large corporations. the
> former group argues that 'free markets' defined as lack of
> public [i.e. government] control of commercial activity is a
> divine ideal, an 'invisible hand', [or as Adam Smith put it: god reveals
> himself in the market]
>

Only a system of checks and balances can rectify this paradox.  Under the
capitalist/free-market model corporate power is checked through competition.
While the "humble" minority offer no such logical solutions, they are too
quick
to rely on the Government to check the power of corporations without
rationalizing that the Government itself is an institution, and like a
corporation, if left alone, will abuse its powers.

You are right, we have discussed this many times before!  And as I have asked
you many times before: do you have a system of checks and balances for the
Government much like that which I propose for Corporations which is
competition
and free-market?

Simply put: I trust a corporation more in a free/competitive market because
its
power is clearly checked rather than a monopolistic Government whose power
remains unchecked.

Lastly, free-market ideals are not in the majority in India - they have
been and
continue to be a dwindling minority.  This is cause for great concern and
something must be done before we all succumb to oppressive institutions!!

Sincerely,
Vamsi M.


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