Another capitalist criminal has been found out, and is presently a fugitive from the law. Massachusetts businessman Jay Echouafni paid for distributed denial-of-service attacks (DDOS) against his competitors. The attacks took down his competitors’ web sites and caused millions of dollars in losses.
David McReynolds shared an excerpt from The Economics of Innocent Fraud: Truth for Our Time by J.K. Galbraith, who argues that corporate power is the driving force behind US foreign policy.
In 2003, close to half the total US government discretionary expenditure was used for military purposes. A large part was for weapons procurement or development. Nuclear-powered submarines run to billions of dollars, individual planes to tens of millions each.Such expenditure is not the result of detached analysis. From the relevant industrial firms come proposed designs for new weapons, and to them are awarded production and profit. In an impressive flow of influence and command, the weapons industry accords valued employment, management pay and profit in its political constituency, and indirectly it is a treasured source of political funds. The gratitude and the promise of political help go to Washington and to the defence budget. And to foreign policy or, as in Vietnam and Iraq, to war. That the private sector moves to a dominant public-sector role is apparent.
