I could not disagree more with your assessment that this is a positive thing for the economy or that this will unburden capitalism. Capitalism will not last long if the smallest stakeholders effectively have no property rights. This is a victory for corporatism, not capitalism.
The unionists were not wrong to organize against what they perceived to be corrupt power. Collective action (as in the refusal of UAL workers to accept compromises with the corporation) can be self-defeating. But there are legitimate and positive uses of this form of power.
I also do not agree that American homeowners will simply forget about this. For one, I certainly won't be making any more urban real estate investments. The sight of bulldozers bearing down on the homeowner in New Londo (and what I assume will be a huge crowd) may in fact be a Tiananmen Square moment, a moment in which capitalism is defended from corporatism and plutocracy.
Point well taken. Thank you.
"I could not disagree more with your assessment that this is a positive thing for the economy or that this will unburden capitalism. Capitalism will not last long if the smallest stakeholders effectively have no property rights. This is a victory for corporatism, not capitalism."
I did not mean that this is a positive thing for the economy in general. It is good for my niche in it.
I agree: it is a victory for corporatism.
"The unionists were not wrong to organize against what they perceived to be corrupt power. Collective action (as in the refusal of UAL workers to accept compromises with the corporation) can be self-defeating. But there are legitimate and positive uses of this form of power."
I agree.
"I also do not agree that American homeowners will simply forget about this. For one, I certainly won't be making any more urban real estate investments. The sight of bulldozers bearing down on the homeowner in New Londo (and what I assume will be a huge crowd) may in fact be a Tiananmen Square moment, a moment in which capitalism is defended from corporatism and plutocracy."
It won't happen.
Americans reflexively obey the law.
They do not strike against the government.
There will be no Tiananmen square moment.
Americans will be mad, they will vent their spleen for awhile, nothing will happen to most of them personally, and they will fall back to sleep.
When there is some terrible news story about something related, they will get angry a time or two.
Then they will not read those articles anymore, nor listen to the reports. They will turn away, much as people do from pictures of the starving in Africa or aborted children. Some things are too painful to see when you feel powerless to do anything about them.
This will be one of those things.
All things in America except, curiously, slavery were each one of those things.
The victory is for corporatism, it won't be reversed, and while psychologically regretting that it is as it is, the prudent man will be sure to place his own investments in corporations.