California government: implications for capitalism

January 11, 2011

Business would feel the sting of Brown’s budget proposals

The governor wants to close a $25-billion gap in California’s spending plan partly by eliminating redevelopment agencies and enterprise zones and ending a new corporate tax break.

This hints at the fact that capital does not think it can operate without state support. Revealing position for capitalists to be in.

The reason why this is important is because we are likely to see more, not less, demand for privilege for capital, with excuses like “get the economy moving” but where owners of wealth are the real beneficiaries, not the general welfare.

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