Layers of Exploitation

cookie jar photo Karl Marx saw exploitation as the core behavioral process in any class society. Overclasses always rule (and indulge themselves) by means of regimes for taking advantage of those who lack alternatives to being taken advantage of.

For rather obvious reasons, this remains a big and vastly under-researched topic. How exactly do rulers deploy threats and tricks to keep paying themselves from the sacrifices of others?

In the corporate capitalist epoch, one thing they do is big business marketing, which, as TCT readers know, is a form of class-struggle-from-above.

I mention all this because The New York Times today is running a letter from Lawrence D. Fink, CEO of BlackRock, to his firm’s shareholders. In the letter, Fink acknowledges that one of the foundational features of modern corporations is their ability to operate without direct accountability to the public that grants their charters:

Society increasingly is turning to the private sector and asking that companies respond to broader societal challenges. Indeed, the public expectations of your company have never been greater. Society is demanding that companies, both public and private,serve a social purpose. To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society. Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate.

Behind closed doors, this is how CEOs understand their basic situation, though, as soon as the public inquires directly into this confidential fact, the CEOs of course flip over into insisting that even the largest corporations are merely enlarged mom-and-pop shops and thus nobody’s business but their shareholders’.

But, off the record, they know: Under present arrangements, one of the exploited parties is definitely the public in general.