Arena Books (Publishers)

being Volume III of Social Capitalism in Theory and Practice

ISBN-13 978-0-9556055-5-0
Retail price: £18.99 US$ 32.99 €27.20

In this third volume of Robert Corfe’s major work on Social Capitalism, he describes the business enterprise of the future and how prosperity will be ensured in a stable world. Part I homes in on the international situation, particularly in the Third world, and how internal capitalisation and intermediate technology will assist in raising the living standards of the poor. Parts II and III describe strategies for national prosperity on the macro-economic level in the advanced industrialised countries, and Part IV considers many aspects in the reform of the business enterprise. Part V is an exposé of 43 rentier capitalists and leaders of major corporations; and the final Part concludes the work with a summary and analytical declaration of Social Capitalist values and aims. As with the earlier volumes, the book will be of interest to all those seeking to resolve the most difficult socio-economic and environmental questions of our time, as well as those concerned with the future of the world of work.

More about this book –

The reform of the financial-industrial infrastructure cannot be undertaken without considering fully the political culture in which it exists. But such reforms can only best be initiated from within the capitalist system itself by those most technically competent to effect necessary change, and hence this book calls upon the business community to take such an initiative.
Whilst the first volume of this work traced the development of the new majority and its potential readiness to promote desired change; and whilst the second volume laid out the theoretical basis for Social Capitalism and a new political consciousness; the third and final volume is concerned with the policies and practicalities of a Social Capitalist world. Part I of the present volume is concerned with the international dimension, and especially the Third world, and the need for its internal capitalisation and redefining the benefits of free trade, and the priority of environmental questions. Parts II and III are concerned with strategies for national prosperity on the macro-economic level in advanced industrial economies, and Part IV considers the reforms of the business enterprise in successfully integrating the common aims of employers and employed.
Part V is an exercise in the critique of Rentier capitalism, comprising an exposé of 43 leaders of major corporations, and Part VI concludes the work with a summary and analytical declaration of Social Capitalist values and aims. As this book clearly demonstrates, a free and democratic world cannot be achieved or maintained without the successful establishment of a Social Capitalist society which seeks to maximise the individual ownership and control of the means of production, distribution and exchange.
Under different pseudonyms, Robert Corfe is also the author of 3 autobiographical works: Death In Riyadh (Geoff Carter) describing his life as a businessman in the Middle East in the 80s; My Conflict With A Soviet Spy (Eddie Miller) relating his adventures in Finland in the mid-60s; and, The Girl From East Berlin (James Furner) an epic novel relating his love affair in the old German capital at the end of the 50s.

CONTENTS

Preface page - iv

PART I
Introduction to Part I:-
REDEFINING THE BENEFITS OF FREE TRADE

CHAPTER 1

Why The Business Community Should Be Committed To Social Capitalism

1 - Business people and Social Capitalism 2 - Intervention rather than laissez-faire is the road to freedom 3 - The modern state promotes business 4 - Laissez-faire is today only relevant to giant corporations 5 - Industrial issues broaden to embrace human issues 6 - The perspective of an export manager 7 - Towards the politicisation of industry 8 - Bifurcation of capitalism first identified as a political issue 9 - Foundation of the CFI 10 - The secret opposition 11 - Why the organisation failed 12 - Why industry should be linked to Social Capitalism 13 - The need to identify benign and malign capitalism

CHAPTER 2

The Political Threat of Global Capitalism

1 - Global capitalism and the impotence of Productive business 2 - Rentier capitalism is without responsibility or controls 3 - All are subordinated to its unpredictability 4 - Injustice of the threat to living standards 5 - Onslaught on the idea of the nation state

CHAPTER 3

How The Nation State Defines The Democratic Community

1 - Comparison between economic power blocs, devolved states, and emerging nations 2 - Nation state a more successful political community than the devolved province or the greater federation 3 - Why this is so 4 - Governmental supra-national democracy has hitherto been unworkable 5 - Organised nation states alone capable of confronting global capitalism

CHAPTER 4

Creating Free Trade For The Majority

1 - Need for national economic autonomy but risks to be avoided 2 - Need for self-sufficiency and less world trade 3 - Democratising the structure of world trade 4 - Creating free trade for majority interests

CHAPTER 5

Internal Capitalisation In The Third World

1 - In avoiding exploitation Third World countries should raise their own capital internally 2 - Dead capital of the poor in the Third World 3 - Vulnerability of the affluent in such societies 4 - Legal structures necessary for releasing dead capital 5 - Integrating the legal and extra-legal economies for prosperity

CHAPTER 6

Competition and Protection

1 - Globalisation has intensified labour competition 2 - And undermined conditions of employment 3 - Work should be a pleasurable activity 4 - The problem of price competition can only be resolved through new trading relationships 5 - Internal pressures bring instability to capitalist societies 6 - Price competition will bankrupt the advanced economies

CHAPTER 7

How Environmental Issues Will Change Industrial Policy

1 - How workaholism leads to philistinism 2 - Balancing work with the other needs of life 3 - Competition necessary but needs to be moderated 4 - Environmental politics will eventually sideline global capitalism 5 - Towards a Federation of Equal Autonomous States 6 - Meeting the challenge of environmental change

PART II
Introduction to Part II:-
STRATEGIES FOR NATIONAL PROSPERITY

CHAPTER 8

Productivity Defined

1 - Wealth creation a priority over distribution 2 - Need for qualifying employment policies 3 - Misuse of the term “Productivity” 4 - End of the Keynesian era 5 - Limitations of the service sector 6 - Productivity for the future

CHAPTER 9

The Bane of Rentier Capitalism

1 - Toryism and the City 2 - No capital for productivity 3 - Money for land and property 4 - Automation and fuller employment 5 - Where jobs will be found in the future

CHAPTER 10

The Meaning of Wealth Creation

1 - Capital resources no criterion of national prosperity 2 - Labour + Capital = National Wealth 3 - Illusion of the leisure society 4 - Rentier capitalism defined 5 - The City versus productive wealth 6 – Personalisation policies

CHAPTER 11

The Pursuit of Business For Its Own Sake

1 - The industrial sector as a place of conflict 2 - Need for a unifying idea 3 - An objective approach to business 4 - Vested interests of employees 5 - Vested interests of employers 6 - Triumph of rentier over productive interests

CHAPTER 12

Identifying The Right Objectives

1 - Definition of business for its own sake 2 - The need for maximising market share 3 - How British industry surrendered market share for higher profits and lost both 4 - Laissez-faire versus national interests 5 - Profitability: Real and Illusive 6 - How British business chose the road to self-delusion

CHAPTER 13

Ownership As A Stewardship

1 - A higher purpose than vested interests 2 - As a contribution towards a happier environment 3 - Building a bridge of trust between employers and workers 4 - Inefficiency of the hire and fire management approach 5 - Injustice of subjective malice 6 - The question of Masonic privilege 7 - Futility of Whizzkiddery

CHAPTER 14

Industrial Democracy And Worker Investment

1 - Need for more open management 2 - Co-determination 3 - Repudiating the representation of vested interests 4 - Prime argument for democracy: To achieve industrial effectiveness 5 - A united front against rentier interests 6 - Enhancing the quality of senior management 7 - Cynicism of contemporary industrial attitudes 8 - How divide and rule serves the interests of rentier capitalism 9 - The one danger to industrial democracy 10 - Part-ownership as the seal for employee commitment 11 - Profits and earnings: An open book for all 12 - Two circumstances justified in circumscribing open management

CHAPTER 15

Government Policies For Industry

1 - Ensuring that industry serves the community 2 - The imperative for intervention 3 - Repudiating selectivity in the manufacturing sector 4 - How selectivity would reduce manufacturing to zero

CHAPTER 16

A New Investment Source For Productivity

1 - Utilising the high street banks 2 - Need for a Young Turk revolution to achieve this 3 - Difference between bank and accountancy financial direction in the management of business 4 - Total inadequacy of the British banks 5 - Comparison between rentier and productive capitalist economies in practice

CHAPTER 17

Creative Intervention And The Business Adviser

1 - Failure of contemporary capitalism 2 - Limited effectiveness of the DTI 3 - Need for a liaising function between the DTI and Industry 4 - Scope of the Business Advisers 5 - Why British industry needs external assistance

CHAPTER 18

Monopoly Versus Efficiency

1 - Monopoly is intrinsic to Britain 2 - How it sacrifices productive to rentier interests 3 - Why the foreign productive enterprise is forced to meet marketing realities 4 - American business methods and American failure 5 - The question of international conglomerates 6 - An international currency: A bane or benefit? 7 - The hidden imperialism 8 - Our place in a wider world

PART III
Introduction to Part III:-
JOB CREATION FOR SOCIAL WEALTH

CHAPTER 19

Social And Unsocial Wealth Creation

1 - The new economic divide in society 2 - The scourge of unemployment is no respecter of class 3 - Unemployment today stems from profounder causes than those of the 1930s 4 - The employed classes share a common identity 5 - To whom these chapters are addressed 6 - The first and subsidiary economic functions of employment 7 - Socially wealth creating labour defined 8 - Unsocial wealth creation defined 9 - Conditions favourable to socially wealth creative activity 10 - Unsocial wealth creation a product of rentier capitalism

CHAPTER 20

How Industry And Jobs Are Undermined

1 - How the rentier economy undermines productivity 2 - Seductive attractions of the City of London 3 - But the City is not concerned with domestic productivity 4 - Complacency of financiers in the face of this 5 - All industry’s problems traceable to under-investment 6 - Productive capitalism is socially desirable 7 - And job-creating 8 - Rentier capitalism is the single factor undermining the British economy

CHAPTER 21

How Rentier Business Practices Destroy Productivity

1 - The destructive logic of rentier business management 2 - Rentier principles of conglomerates 3 - How a manufacturing enterprise may be ruined by “streamlining” 4 - Pure financial profit the sole criterion of rentier capitalism 5 - The two systems of capitalism generate contrasting mental attitudes 6 - The employed classes must fight for a productive economy

CHAPTER 22

Political Alignments Fail To Reflect Economic Realities

1 - Unemployment is no respecter of occupational status 2 - Old political myths mask the new economic realities 3 - Bankruptcy of Tory ideals 4 - Bankruptcy of Old Socialist ideals 5 - Ideals of the old parties no longer match new social conditions 6 - Those supporting the productive economy versus the rentier economy could form the basis for a new political divide 7 - Those promoting the rentier economy 8 - Careful discrimination needed in defining the rentier economy 9 - Government in desperation puts its trust in rentier activity 10 - The need to professionalise and licence financial services 11 - Myopia of those promoting the rentier economy 12 - Distinction between Socialism and productive capitalism 13 - The evils of traditional capitalism may be eschewed through abolishing rentier activity

CHAPTER 23

Scale of The Damaging Rentier Economy

1 - The pragmatic Socialist and the pragmatic Tory may support our doctrine 2 - Rentier capitalism has been more destructive than Hitler’s bombs 3 - The need to apportion blame 4 - The Treasury and the Bank of England are tools of a greater power

CHAPTER 24

The Monster That Turned On Productivity

1 - Impotence of politicians 2 - How the productive economy was felled by the City 3 - Origin of our decline 4 - Achilles heel of the British economy 5 - The Frankenstein monster which turned against productivity

CHAPTER 25

Where Blame Must Lie

1 - Problems of the rentier economy compounded by monopoly 2 - Vulnerability of the merged firm 3 - Little hope of persuading corporate industrial leaders to effect necessary reforms 4 - All blame must come down to individuals 5 - Blame must be put on the rentier class for our declining economy 6 - Myths of Socialism convenient in hiding rentier activity 7 - How British Socialism is forcing productive capitalists into the rentier camp 8 - How governments of both parties have unwittingly promoted the rentier economy 9 - How they both supported the job-destroying activities of the 1960s.

CHAPTER 26

Rentier Versus Productive Capitalism

1 - Oppression of the productive classes 2 - Evils of class retrenchment exacerbated by economic pressures 3 - Why industrialists and others live in fear of proclaiming the truth 4 - Why private and public views of academics may differ 5 - Those most likely to support the productive economy 6 - How rentier capitalism has given rise to low-wealth creating forms of employment 7 - Required conditions for a modernised industrial infrastructure

CHAPTER 27

Occupational Priorities According To Productivity

1 - Need for a priority listing of occupations according to their productive profitability 2 - This needed in countering the rentier economy 3 - Priority listing of occupations: I Productively profitable employment 4 - II Essential services employment 5 - III Administrative and non-profitable employment

CHAPTER 28

Money-Power In Britain Greater Than Elsewhere

1 - Need to pursue national policies benefiting the majority 2 - British governments have never achieved this in peace time 3 - Rentier interests of the merchant banks 4 - Their influence through other City institutions 5 - Why money-power has been greater in Britain than elsewhere 6 - Britain’s undefinable constitution a fertile soil for the ulterior machinations of rentier activity 7 - The guilt of the Treasury

CHAPTER 29

Our Competitors Put Productivity First

1 - How our financial institutions have unwittingly undermined the economy 2 - The beneficiaries of the rentier economy 3 - But not all are blameworthy 4 - The guilty and the question of politico-economic criminality 5 - Values of the productive economy alone are pre-eminent amongst our competitors 6 - Their pragmatism in pursuing commercial interests 7 - Naivety of British authorities on questions of international commerce 8 - Job-creation at home should be the prime aim in all policies of our commercial officials 9 - Britain loses exports through clumsy diplomacy

CHAPTER 30

Invisible Barriers Against British Trade

1 - Invisible barriers against British trade: 16 categories listed 2 - We must adopt a mature attitude and strategy in the face of ruthless competition 3 - As a nation we have no monopoly of virtue 4 - The amorality of international business

CHAPTER 31

Proposals For Promoting Job-Creating Productivity

1 - The millstone of laissez-faire 2 - Proposal for licensing imports 3 - Need for a 200-mile fishing limit 4 - Britain’s uniquely disadvantaged position is her justification for new Navigation laws 5 - 14 general aims for industrial regeneration

CHAPTER 32

A Message For The World

1 - Internationalism and national aspirations 2 - States are not altruistic to the outside world 3 - External pressures alone ensure the self-centredness of states 4 - But there is a doctrine with a world message 5 - Mutual benefits of productive capitalism internationally 6 - Rentier capitalism responsible for the worst poverty and social conditions worldwide 7 - Socially desirable wealth creation a universal principle

PART IV
Introduction to Part IV:-
REFORMING THE BUSINESS ENTERPRISE

CHAPTER 33

The Company: Identifying Its Intrinsic Purpose

1 - The company must be viewed in its totality 2 - Since its purpose transcends the views of different groups 3 - Discussion of the company can only begin realistically with success and failure comparisons 4 - Reality is only found through objectivity 5 - A company must be a profit-making centre 6 - Old Socialism failed to appreciate the need for the business dynamic 7 - The only purpose of the company is to fulfil marketing needs 8 - This is achieved most efficiently by a company pursuing its own best interests 9 - Every company has an innate rational purpose 10 - This places a special obligation on those committed to the company 11 - Subjective management undermines a company’s purpose 12 - Examples of subjectivity 13 - The purpose of a company is higher than the vested interests of its constituent parts 14 - This is an argument for shared responsibility and ownership 15 - Why the cash nexus as a sole link between employer and employee is pernicious 16 - How objective management leads to greater efficiency 17 - The need for openness 18 - British dilettantism versus Continental rationalism 19 - Necessary topics for discussion

CHAPTER 34

“Usury” - Is It Relevant Today?

1 - Ambiguity of the term 2 - Irrelevance of religious interpretations of usury 3 - Modern and medieval definitions 4 - Some false notions of usury 5 - Creation of interest vital to industrial development 6 - Difficulty in judging a desirable interest rate 7 - Need to reject tinkering in favour of a more pragmatic approach 8 - Whilst rentier capitalism increases interest rates, a productive economy may diminish them 9 - In Britain’s rentier economy, money creation is made in lieu of wealth creation 10 - Evils of contemporary usury 11 - To counter this, we must create a productive economy 12 - False economics of the rentier apologists 13 - Absurdity of their magic wand approach 14 - Productivity is security against unforeseen international eventualities 15 - Need for the term Rentier Capitalism 16 - How rentier economists sell themselves to the expediency of the politicians 17 - All wealth creation is traceable to the physical assets of production 18 - Even Socialists support our discredited financial system when their noses are up against it 19 - A modern interpretation of Physiocracy 20 - Interest rates and inflation must be controlled 21 - A productive society is based on wealth accumulation through work 2 - Limited importance of the Stock Exchange 23 - Hopes for its transformation 24 - Futility of setting interest rates 25 - Even our medieval ancestors failed miserably in their attempts

CHAPTER 35

The Company: Fairness And Efficiency As One

1 - Separate groups in the company only take on reality through their inter-relationships 2 - Hence through objectivity alone can the company be properly considered 3 - Mere subjective opinion-making is not reasoning 4 - A scientific or sociological approach is called for 5 - Efficiency and fairness cannot be separated in discussing the best interests of the company 6 - Examining the company from a confrontational perspective is sterile 7 - It must first be examined in the light of its dynamic purpose 8 - Success is derived from a company’s inner dynamism 9 - The bureaucratisation of a company only castrates it 10 - Distinction between the Old Socialist concept of Worker Ownership and Employee Ownership 11 - Why turning employees into capitalist Owners would benefit employers 12 - Why consumers should not have a say in company management 13 - The pursuit of business for its own sake does not equal “simple profit” 14 - What long-term profitability means

CHAPTER 36

A General Purposes Clause For The Company

1 - Merger activity has only benefited rentier interests 2 - Legal rights in the success of a company should be extended to employees 3 - But withheld from those not committed to its day-to-day functioning 4 - Need to distinguish between what is Internal and External to a company’s interests 5 - Internal interests of the company 6 - Interests external to the company 7 - How failure to maintain these distinctions may undermine a company’s dynamic purpose 8 - Why consumer interests or public complaints are better handled by specialised external bodies 9 - It is doubtful if larger companies express a “social obligation” out of altruism 10 - They have more concern for their public image 11 - And to pre-empt justified criticism 12 - Vested interests hinder development of renewable energy sources 13 - The giant retail chains have trampled on the unfortunate and dictate the upward trend in prices 14 - No attempt should be made to transform the company into something it is not 15 - The EDT clause is undesirable since it allows a company to opt out of its productive purpose 16 - Diversification is often a symptom of degeneracy 17 - The provision of secure employment is only secondary to the company’s purpose 18 - And so also are “quality goods” at “reasonable prices” 19 - Free time to attend “public duties” is not part of a company’s purpose 20 - Co-determination and employee share-ownership should legally form part of a company’s function 21 - Vague gestures of altruism should not be introduced into the company’s Memorandum 22 - A company should concentrate on its productive purpose 23 - And then seek to maximise its market share 24 - A company should fully develop the potential of its employees 25 - Including, if necessary, a change in career direction 26 - Ideally, the company should seek to fulfil the spiritual needs of its employees 27 - Pursuit for the collective good is ultimately of greatest benefit to all committed to the company

PART V
Introduction to Part V:-
FORTY-THREE FAILING BRITAIN: AN EXERCISE IN THE CRITIQUE OF
RENTIER CAPITALISM

CHAPTER 37

Industrialists Against Industry

1 - A monstrous letter 2 - What is an “industrialist”? 3 - The oligopolists alienated from industry 4 - The 43 signatories and their concerns 5 - Their political might 6 - An endorsement of continuing de-industrialisation 7 - An indication of their earnings 8 - They and their concerns unaffected by change of government 9 - Political responsibility not complemented by the reality of power 10 - Real power is held by the industrialists 11 - Success of the phony economy 12 - It is a cancer feeding off productivity 13 - Transforming the business criteria of an acquired company 14 - Rentier capitalism is the real British disease 15 - Industrial power is absolute economic power 16 - How industrialists toy with party politics 17 - Tacit understanding on the separation of business and political interests 18 - Industrialists are giants in a land of dwarfs 19 - Their greater political accountability follows from this 20 - They alone have the power to effect change 21 - Their cowardice in failing to meet the challenge

CHAPTER 38

The Ideology of Industrial Decline

1 - Hypocrisy of their letter 2 - How the 1979 exchange rate devastated our exports 3 - Pursuit of the short-term 4 - Devastation of our manufacturing base 5 - “Enterprise” as a propaganda term 6 - Foolishness of the small business borrowers 7 - How big business has exploited small business 8 - Our 43 are no friends of competition policies 9 - Nor of productive business 10 - They exploit threadbare political illusions for an ulterior purpose 11 - Their false perception of reality 12 - It even contradicts government policy 13 - “Inward investment” a qualified benefit 14 - “Quality and design” not exploited for British industry 15 - Little sign of “encouraging trend” within our universities 16 - Unrealism of new “career options” 17 - British recession not comparable with world recession 18 - Our 43 have no answer to the “over-heating” of the economy

CHAPTER 39

Counterblast To The Forty-Three

1 - Public response to the monstrous letter 2 - Labour party industrialists 3 - Liberal democrat industrialists 4 - Little to distinguish industrialists according to political allegiance 5 - The Labour party response 6 - The Liberal Democrat response 7 - The question of public utilities and their funding 8 - Why industrialists are disillusioned by the centre ground 9 - Industrialists’ discontent with the political status quo 10 - Industrial management at odds with corporate power 11 - Graduates not prepared to be the “Yes men” of yesteryear 12 - The scientific community versus our 43 13 - How our 43 have financed the Tory party 14 - On the unwise decision-making of our industrialists 15 - And this is because rentier profiteering is more attractive 16 - The illusive vision of a rentier capitalist 17 - What Lord Hanson really means 18 - Lord Gregson’s timely percipience 19 – Social Capitalism promotes the definitive intellectual argument

CHAPTER 40

The Purpose of Industry

1 - Need to define the raison d’être of industry 2 - What is the meaning of “British interests”? 3 - What is the meaning of “economic power”? 4 - What Social Capitalism means by British interests 5 - The purpose of industry 6 - A society managed on disinterested principles 7 - Maximising democratic power: the ethical argument 8 - Utilitarian grounds for extending democracy 9 - Manners to protect the privileged a burden on democracy 10 - Demand on brainpower requires a classless society 11 - An egalitarian society only attainable through displacing old values 12 - Social justice is dependent on creating a rational society 13 - Final outcome of the economic class struggle 14 - The political ideals of our 43 industrialists 15 - The consequences for a rentier Britain 50 years hence 16 - Complacency of our 43 industrialists 17 - they are cocooned within a fantasy world 18 - Their inexperience

CHAPTER 41

The Bifurcation of Capitalism

1 - Distinguishing Rentier from Productive capitalism 2 - First revealed through experience 3 - The author’s second experience of rentier capitalism 4 - Evils of rentier capitalism revealed through objective research 5 - Suppression of literature on the rentier economy 6 - The distinction between the 2 economies is the only economic reality 7 - The “free enterprise” economy is not what it purports 8 - Conflict of interest between the manufacturing unit and its corporate office 9 - But an enterprise is most quickly ruined by the Whiz-kid 10 - Historical explanation of the Rentier economy 11 - Continental and Far East industrialism achieved in different circumstances 12 - New concepts developed for funding industry 13 - The bifurcation of capitalism: Rentier and Productive 14 - Social consequences of productive capitalism 15 - And of rentier capitalism 16 - Deluded optimism of the British proletariat 17 - Foundations of the classless society in Germany 18 - How hereditary privilege in Britain retained its power 19 - Our contemporary situation and decline 20 - Rentier economy solely responsible for this 21 - Establishment economists and the monistic explanation 22 - British industry and the easy years 23 - The post-War consequences

CHAPTER 42

Identifying Productive Profitability

1 - Our 43 not the most culpable sector in the business community 2 - But the financial class are 3 - But only because of their mode of operation 4 - Top bankers appreciate our industrial philosophy 5 - Ambiguity of available information 6 - The problem of interpretation 7 - New criteria needed for company information 8 - To measure Productive profitability against Rentier profitability 9 - Diversification is a sign of weakness 10 - Information required on foreign and international concerns 11 - Need for reconstituting stocks and shares according to home-based productivity 12 - Benefits accruing from this 13 - The esoteric power of the City holds our politicians in thrall 14 - Why the Tories are the party of de-industrialising rentier capitalism 15 - Irrelevance of party politics 16 - Time for turning to the industrialists 17 - Big business is now inextricably political 18 - Representative power has been eroded by big business 19 - Political appeal to our 43 industrialists 20 - Why they should respond 21 - Stupidity of pretentious optimism 22 - Responsibility for our country’s future 23 - Posterity is within their reach

PART VI
DECLARATION OF SOCIAL CAPITALIST VALUES

FIRST PART

The Principles of Socially Responsible Capitalism

SECTION I

The Social Purpose of Industry

Aims: 1 Primary social purpose: 2 Social and Unsocial Wealth creation: 3-5 Greater wealth distribution = more taxation: 6-8 Achieving job creation: 9 Core economic activities: 10-11

SECTION II

Safeguarding Community Interests

Economies must be democratically accountable to their own communities: 1-3 The threat of international capitalism: 4-5 How to confront it: 6 Need for special agreements: 7 Free market essential for both business and community: 8 But the free market in utilities should be limited: 9-11 Other examples when privatisation may be disadvantageous: 12-14 Confronting harmful or undesirable market demands: 15 Problems of the arms industry: 16-17 Avoiding waste and pollution: 18 Higher priorities than work and productivity: 19

SECTION III

The Proper Rationale of Business

Productivity for the longer term: 1-3 Is socially more beneficial: 4 Conglomerate business productively inefficient and source of Unsocial Wealth creation: 5-11 Is internally divided by opposing vested interests: 12-13 Why independent UK companies are also managed for the shorter term: 14

SECTION IV

How To Fund Industry

Equity mode of funding UK business: 1 Resultant pressures on independents dictates short-termism: 2 Deficit funding, on the contrary, leads to greater productivity, greater spread of business enterprise, and more equal distribution of wealth: 3-8 Equity funding often leads to intentional suppression of productivity: 9 Rationally and irrationally funded economies: 10 Why deficit funding is more efficient: 11 Mode of funding influences business behaviour: 12 Social benefits of deficit funding: 13-14 Social ills arising from equity funding: 15-16

SECTION V

Politicising Business Activity

Importance of effective taxation: 1 Big business has esoteric knowledge: 2 Business repels and confuses those not in-the-know: 3-4 Psychological motives of business: 5 Industrial problem solving is not so much a question of management as vested interests: 6-7 Business suspicious of government: 8 Government has limited understanding of business: 9-11 But mutual patronage and sinecures have sealed their good relations: 12 Need for industrial reform but intelligent discussion only facilitated through a new vocabulary for identifying the new reality: 13-16 Purpose of this declaration is to unlock the secrets of our financial-industrial establishment: 17 Productive or socially benign capitalism: 18-19 Rentier or socially malign capitalism: 20-21 Productive Profitability the dialectic for all good business: 22-23 Rentier Profitability the bane of good business: 24-25 Macro-economic outcome of contrasting types of profitability: 26-27 Other terms: 28

SECOND PART

Achieving The Practicality of Change

SECTION VI

First Steps Towards Prosperity

The supporting functions of government: 1-2 Corporate subsidiaries and some independents should not be eligible for assistance: 3-7 A commission to investigate the financial management of conglomerates: 8-11 More smaller privately owned businesses in Continental Europe: 12 Monopoly-type categories of business to be discouraged: 13

SECTION VII

Reforming The Financial Institutions

Establishing long-term low-cost lending institutions: 1 Conglomerate banks: 2 Reforming the clearing banks: 3-4 Releasing subsidiaries from corporate control: 5-6 Need for Productively benign stock exchanges: 7-10 London Stock Exchange reserved for international trading: 11-13 Helping investors promote UK-based productivity: 14-16

SECTION VIII

Towards Creative Intervention

Industrial Planning Associations: 1-3 Inequity of Britain’s trading situation: 4-8 Her negative imbalance of trade: 9-10 Import Substitution Board: 11-12 Policy of Creative Intervention: 13-15 DTI Business Advisers: 16-17 Their function: 22-25 Revitalising commercial posts: 26-27

SECTION IX

Overcoming The Imbalance of Trade

Obligations of the state: 1 Strengthening our ties with the EU: 2 The fishing industry: 3-6 The merchant fleet: 7-9 Levy on foreign juggernauts: 10-12 Improving rail efficiency: 13 Other levies on finished goods: 14 Dividing land ownership in Scotland for afforestation and other productive use: 15-17 Need for a land survey in England and Wales: 18 Promoting wider land ownership and greater productivity: 19 Increasing home-based food production: 20

SECTION X

Extended Role of The Trade Unions

Changing role of the unions: 1 Their new functions: 2-3 Dictated by the changing sociology of work: 4 Changed attitudes of working people: 5 Of the middle classes: 6 How old-style trade unionism often served the vested interests of employers: 7-8 New-style trade unionism must fight for Productivity and Social Wealth Creation: 9-10 Re-defining its prospective supporters and future battle lines: 11 Extending shared company ownership to employees: 12-13 Compensation and guarantees to the chief executives of independent firms: 14 Preventing nepotism: 15 Encouraging other ownership arrangements: 16

SECTION XI

Collective Responsibility For Industrial Success

Implementing Co-determination: 1 Employee share ownership: 2 Training trade unionists to read accounts: 3 Need for full unionisation: 4 Including senior management and chief executives: 5 The right of employees to inspect accounts: 6 Safeguarding confidential information: 7 Top salary levels: 8 Maximising employee ownership and control: 9 Special exemptions for entrepreneurs: 10-12 Wage agreements should be statutorily applied in all work places: 13 Tensions and rivalry inevitable in all organisations: 14-16 Changing the pattern of formalised conflict from a self-defeating to a constructive purpose: 17-18 Purpose of Advanced Industrial Action: 19 Its function: 20 Countering the threats of globalisation and the role of the Industrial Efficiency Tribunal: 21 Ensuring the legal responsibility of directors for industrial success: 22-25 Conclusions: 26-27

Appendices

Appendix A: Some vital Discussion Topics

Appendix B: The Accused: The Forty-Three Failing Britain

Appendix C: The Groups & Their Profitability over a 2-year period

Appendix D: The Groups & Their Activities

Appendix E: Handicaps To Competition

Appendix F: The Groups & Their Financial Structures

Appendix G: The Groups: Their Growth or Contraction
Listed in order of Turnover

Appendix H: A Summation of The Financial Power of All Forty-One
Groups in Their Different Aspects

Appendix I: Signatories With Their Groups & Companies Listed in
Dantesque Descending Order of Culpability As Types of Enterprises of Lesser Value,
Based on The Criterion of Desirable Productive Profitability
As Contrasted With Rentier Profitability

Appendix J: Analysis By Type of Industry, Its Size & Profitability

Appendix K: List of Social Capitalist Technical Terms

Appendix L: SELECT BIBLIOGRAPHY & QUOTED SOURCES

Appendix M: INDEX TO THE DECLRATION OF SOCIAL CAPITALIST VALUES

INDEX TO THE MAIN TEXT