samedi 26 janvier 2019


Stock Exchange and Workers’ Participation


By Daniel Paquet                                                 dpaquet1871@gmail.com                                         

MONTRÉAL - « Stock market analysts (in People’s Republic of China, -Ed.) are no less upbeat.  They have assigned virtually unanimous ‘buy’ recommendations to investors on all companies in the Shanghai Composite Index.  A Bloomberg scale shows an average rating of 4.4. where 5 represents unanimous buy calls from analysts.

The wall-to-wall optimism robs Chine lenders of their antenna. (…)
Nevertheless, Beijing does not appear ready to let ‘a hundred schools of thought contend’. (…)
The state-run media has been instructed [sic] to sow harmony wherever it can, prompting the People’s Daily, mouthpiece of the Communist Party, to crow in its 2015 ‘public opinion’ in support about a ‘major increase in consensus online’ in support of the party.” (Kynge, James, The chronic spin that blights China’s economy, Financial Times, New York, Friday 15th, 2016, page 7).

“The projected stability of the non-energy commodity price Index masks divergent pressures on component prices (in Canada, Ed.).  Lumber prices are expected to be a source of strength, benefiting from stronger housing markets in the United States and China.  In contrast, there is the potential for downward pressure on base metals prices as several new mining projects come on line globally.”  (Bank of Canada, Global Economy, Monetary Policy Report, Ottawa, July 2016, page 5).

As for the leading role of the working class in the process of production of the wealth and its distribution, the British TUC (Trade Unions) General Secretary, France O’Grady, says on the participation of working people: ‘Countries that allow workers to play a stronger role in companies have benefitted from greater investment in research and development, and lower rates of poverty and inequality.’  The union leader adds: ‘allowing workers to sit on company boards is a commonsense move that would do much to improve the reputation and performance of corporate Britain.’”  (O’Grady, Frances, Stronger role for workers is a sensible move, Financial Times, Letters, Friday 15, July 2016, page 6).

‘Comrade O’Grady’, gives us – brilliantly! - the proof that participation of workers in capitalist structures, like mass media here, (ex. Financial Times that allows him to publish ‘his’ opinion) do not change the structure and objectives of imperialism (now decaying capitalism).  It will at the end of the day supplies capitalism with a new show-case, proper to feed working-people with new illusions.  This is the crux of the matter with social-democracy.


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