In the 1700s canals were the big thing. A nearly bankrupt Brit baron built a canal to deliver his coal to a harbor and became fantastically rich. Then there was this canal building boom. Eminent domain to take land and give to canal companies, tax incentives, tax abatements. Lots of speeches about how canals are going to create jobs and development would pass the city by, unless the poor, the unwashed and the indigent chip in to pay taxes. Canals were built. Early canals really created prosperity. But almost all the late canal extensions were boondoggles.
Then the railroads came in. The canal companies hated the railroad companies. Canal towns created stumbling block for the railroads. Local ordnances, zoning rules, misinformation campaigns. Rail roads passed the canal towns by. You can still see quaint little abandoned villages and hamlets all along the Erie canal untouched by progress. Rail road barons, who were canal barons earlier, ran the same damned schemes all over again. They got so egregious their exploits are more remembered than their fore runners in the canal era.
What is history if it does not repeat itself. When Eisenhower kicked off the interstate highway construction boom, the railroad towns fought the highways tooth and nail. But high ways also had powerful cronies based on the illegal cartel of Firestone, Ford Motor Company and Standard Oil. So railroads towns did not win completely. But there are hundreds of railroad towns like Altoona PA that made sure no high ways come close to them. Altoona with its location on strategic location in the Appalachia is still holding on to rail roads because almost all the East-West rail road traffic must go through that town. But it made sure I-76 came nowhere near it. Till data all auto traffic between Harrisburg and Pittsburgh curve sixty miles south to avoid Altoona. https://www.google.com/maps/@4... (The mountains in between are not the issue. All the railroads go through Altoona. The passage has been graded ages ago, with bridges too. Would have been cheaper to build the new highway through Altoona. But the resurrected the old turn pike)
America has always been afflicted by this crony capitalism. But our Democracy was bringing sanity and regression to the mean, till about 1980s. Then Reagan came, and they perfected the art, nay science, of persuading folks like our friend roman_mir to vote against their own self interest. No wonder we are going down the drain now.
We have known this since the days of Adam Smith, but till about 1960s, the private sector preferred to invest in the developed world, and the third world figured only as a source of raw materials, not competition. Then Japan modernized, then Korea and Taiwan, then came other countries in the Pacific rim. By 1980s the interests of private sector and interests of the general population started diverging. We are still trying deal with the multinational private sector corporations using the lessons learned between 1780 and 1960, without giving due credit for the role of government regulation played in it.
But private sector efficiency of maximizing return on investment would also include, undermining competition by buying them out, collusion, cartel formation, lobbying the legislators, media misinformation campaigns, bribing the media personalities, intimidating critics and many other tactics. Some of it legal, some questionable, and some outright illegal.
If we confuse the private sectors definition of "maximize return on investment", even after they have openly admitted "it is the fiduciary responsibility of the directors of corporations to maximize profit", with lofty goals like job creation, low prices, wide choices, improvement in living conditions, we are the fools, shame on us, not them.
On the other hand the media consultants employed by the billionaire owners of coal, oil, petroleum companies and investments in forestry products have absolutely no conflict of interest and they speak the original unvarnished truth.
I mean, who would you trust? Some one who is smart enough to make millions of dollars working for billionaires? Or the fools who spend so much of time studying and ending up working for a pittance? If these so called scientists are so smart why aren't they billionaires and millionaires? Shows who is smart and who you should listen to.
>And I'm not even a fucking programmer by trade.
Yup. I can tell.
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