14 December 2011

AlGore Wants To Protect You

Former vice-president and almost president Al Gore, chairman of Generation Investment Management, and one of his cronies, David Blood, co-creator of the partnership, write an op-ed in today's Wall Street Journal. Actually, they call it a Manifesto, which is quite a bit more grand than 'op-ed.' The whole thing is entitled 'A Manifesto For Sustainable Capitalism.' Of course, parts of it sound eerily like Marx and Engels' Communist Manifesto of the mid-19th century, but these things evolve and therefore much of it comes down to a somewhat obscure version of the early 20th century Fascism of Benito Mussolini. The obscurity comes from the frequent use of economic jargon, e.g. ESG which stands for environmental, social, and governance metrics; sustainability, stranded assets, resource allocation, value creation and a host of other terms calculated to send a shiver up the pants leg of all us wannabe economists and businesspeople. What this boils down to is a form of Tennessee 'protection.'

G-Man: A nice company you have their Mr Capitalist, you wouldn't want anything to happen to its sustainability, would you?
Mr. C: Right, to whom do I write the check?

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