4 ms·
By supporting people who play the game and play it with vigor, we're not only supporting but strengthening the mechanisms on which the game is based. Every sin
by malandrew 13y ago
By supporting people who play the game and play it with vigor, we're not only supporting but strengthening the mechanisms on which the game is based.
Every single one of the organizations which helped in the lobbying effort all have an incentive to preserve the problem to which they themselves are the solution (credit: Clay Shirky). Lobbyists and every organization described in this story are all trying to preserve all the problems with our current system. Without those problems, they'd all be out of a job tomorrow.
The fact that there is tons of money made playing this game gives all the big players incentive to hire the services of every institution and individual that makes a living off this game.
I'm all for Ackman doing something noble, but the profit motive is only serving to strengthen all the institutions that we should be trying to dismantle in favor of a more informed populace with better means to participate directly.
If I had to choose better the existence of a scummy enterprise like Herbalife and a totally screwed up lobbying system, I would definitely choose keeping around Herbalife as the lesser of two evils.
If only Ackman had some way to hold a short position on the power institutions running Washington D.C.
- mcv 13y agoIf Herbalife is scum (I have no personal opinion on that subject), then honest protests, lobbying and information should be enough. Making it a profit-oriented thing discredits the entire endeavor. Besides, if you can profit from destroying a company for noble reasons, what's to stop hedge funds from destroying innocent companies in a similar way? Although maybe that already happens a lot.
- wpietri 13y agoHaving argued in favor of the article, let me give some props to Ackman: honest protests here aren't enough. Scams of all sorts and this one in particular work by taking advantage of the vulnerable. Part of what makes people vulnerable is a lack of political power. Given that our government is a pay-to-play enterprise, I'm glad that somebody is paying to go after Herbalife. If people are going to destroy something for profit, I'd rather it were an exploitative company like Herbalife. Rather than, say, a perfectly good mattress manufacturer: http://www.nytimes.com/2009/10/05/business/economy/05simmons.html?pagewanted=all&_r=0 http://www.nytimes.com/2009/10/05/business/economy/05simmons...