Currency speculation-over a trillion dollars a day-is a tax-free activity. The notion of a tax on "day trades" or other speculative swaps was revived in recent years, but has been studiously ignored by all our purveyors of conventional economic wisdom. That is because we have been persuaded, against logic, and moral sense, that the institution that most needs our support these days is not society, nor the human community, but the global corporation.

Capital, never concerned with distribution, is now less and less concerned with production. Capital is driving for power, for the control over markets, lands, resources. Capital, in corporate hands, can move anywhere and thus demand and get the utmost in concessions and privileges as well as the freedom to operate in the interest of ever-increasing wealth and assets.

The corporation is the dominant and dominating institution of our time. Governments identify growth and development with commercial corporations and shower them with subsidies, tax privileges, and appropriate labour legislation and market support to attract a commitment and investment.

Capital in money form has no citizenship. It is fungible, an asset capable of moving from place to place in a nanosecond.

Corporations have nothing to do with values, and they know it, and sometimes say it.

This is the standard procedure for corporate growth these days; one company buys up another on loans that are floated on the basis of future earnings, and the monopoly or oligopoly created in this way produces the necessary funds by squeezing out competition, and passing the costs along to the consumer. The bucket that holds the new wealth is called a corporation.

The Liberal Party abandoned the principles of reform and social liberalism and has become, instead, just another piece of political machinery in the service of corporatism.